Three Levels of Financial Assurance
Your stakeholders, creditors, or private investors often need assurance that the financial statements accurately represent the true financial position of a company.
Audit
Highest level of assurance. A methodical review and objective examination of financial statements, including verification of specific information.
- • Review of internal controls
- • Testing of selected transactions
- • Third-party communication
- • Physical inspections and observations
Review
Limited assurance. Less extensive than an audit but more involved than a compilation.
- • Analytical procedures
- • Limited assurance scope
- • No study of internal control
- • Good middle-ground option
Compilation
Lowest level of assurance. We present information that is the representation of management.
- • No opinion or assurance
- • Based on management info
- • Often required by banks
- • Cost-effective solution
What An Audit Allows You To Do
Our comprehensive audit services provide multiple advantages for your business operations and stakeholder relations.
Satisfy stakeholders such as employees, customers, suppliers and pressure groups
Facilitate the payment of corporate tax, goods and services tax, and other taxes
Comply with banking covenants
Help deter and detect material fraud and error
Facilitate the purchase and sale of business