Financial Statements: Audits, Reviews and Compilations

We prepare financial statements in an accurate and timely fashion using Accounting Standard for Private Enterprises (ASPE). Here at our firm we understand very well the importance of completing your financial statements in time so that you can pay your taxes in time.

If you are facing any of the challenges listed below:

  • Delays in receiving your financials in a timely fashion.
  • An in depth discussion at the time of finalizing your project.
  • Ensure that nothing is missed on the financials.

Please contact us, we will eliminate all those issues and challenges.

We prepare Notice to Reader, Reviewed statements, in a timely fashion.

Notice to Reader: Many of our clients require Notice to Reader level of reporting. Typically owner managed businesses where the companies do not require very big loans. The users of financial statement in this category are mainly owners who require their taxes be filed and they need to calculate their profits.

Reviewed Statements – Limited Assurance: The businesses who require bigger loans, and the banks and other financial institutions are the users of these financial statements. The statements could be required in more timely fashion, as banks require those for continuous financing and compliance purposes. Review engagements are less extensive than an audit, but more involved than a compilation. More extensive and analytical procedures are required for Review Engagements.

Audits: Audits engagements require an accountant to provide highest level of assurance. It requires more extensive and objective analysis of the financial statements. Audits help to satisfy:

  • Investors,
  • Pressure groups,
  • Customers and suppliers,
  • Comply with bank covenants,
  • Help detect any material fraud and prevent the same.