and GAAP Financial Services
Avoid a full audit with our Attestation and GAAP Financial Services.
We work on behalf of our clients to get stakeholders (banks, bonding companies, etc.) to accept reviewed financial statements vs. fully audited financial statements. Reviews are usually a lower cost than a full audit as well, allowing you to save your money for what matters more to you.
Our attestation services provide an independent, objective service without compromising the integrity of the audit process. We will issue a formal report expressing an opinion, conclusion, or findings regarding your tax information that is being questioned. Our professional standards provide guidance on safeguards and procedures that need to be followed while providing these services to our clients. We value the importance of understanding the regulatory framework and maintaining independence and objectivity.
Common types of Attestation Services include:
Financial Statement Audit: The most common attestation service. We will examine the company’s financial statements to determine if they are prepared in accordance with applicable accounting standards and provide an opinion on fairness and accuracy.
Review Engagement: In a review engagement, the objective is to express a conclusion as to whether the statements are plausible and free from material misstatements.
Agreed-Upon Procedures: This includes an agreed-upon testing of internal controls, verifying specific transactions, or examining compliance with regulatory requirements. The results are reported without providing an opinion or conclusion.
Compliance Engagements: The examination of relevant documents, records, and processes to express an opinion or conclusion on the level of compliance with specific laws, regulations, or contractual obligations.
GAAP Financial Services
GAAP financials are financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP). These are a set of accounting standards, principles, and procedures that provide a framework for how financial statements should be prepared and presented to ensure consistency, comparability, and transparency.
We typically need the following financial statements when providing GAAP financial services:
Balance Sheet: A snapshot of the company’s financial position at a specific point in time, showing its assets, liabilities, and shareholders’ equity.
Income Statement: Presents a company’s revenues, expenses, gains, and losses over a specific period of time, determining the net value.
Statement of Cash Flows: Tracks the inflows and outflows of cash from a company’s operating activities during a particular timeframe.
Statement of Shareholders’ Equity: Shows changes in a company’s equity accounts, including share capital, retained earnings, and other comprehensive income, over a given period.
GAAP financials may also include disclosure requirements that provide additional information on accounting policies. As each jurisdiction has its own set of accounting principles and standards, it’s important to consult with a professional who is familiar with the ins and outs of the entire process.