For many people, running their own business is a dream come true. However, operating a business can also mean providing regular reports about the company’s financial condition and operating results to lenders, investors and other stakeholders. That’s why more and more entrepreneurs are engaging Soren McAdam as a trusted resource for financial statement audits, reviews or compilations.
As a general rule, audits are required when third-parties require high confidence that financial statements fairly represent your company’s financial condition and operating results. In an audit, our team will assess internal controls, evaluate your company’s fraud risk, review physical and electronic records, conduct inquiries and test specific transactions. Meanwhile, a review is a more limited engagement where our team conducts analytical procedures and inquires of management to provide limited assurance regarding the material accuracy of financial statements. Finally, a compilation is the most basic option, where we help management present financial statements without specific assurances about any need for material modifications.
If you’re ready to work with an accounting partner who knows your name as well as your industry, contact Roger Wadell at 909-798-2222. Our CPAs will help you choose the right level of financial statement services for your company’s specific needs.