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When people think of financial statements, they automatically think of business only.  In some instances, banks may require financial statements from individuals instead of their tax return, typically for lending or investment purposes.  Our office offers the following types of financial statements and assurance services:



An audit is when our office would obtain reasonable basis for expressing an opinion whether a business's financial statements, taken as a whole, are presented fairly and in conformity with the client's basis of accounting.  This type of an engagement is typically associated with large commercial loans, bonds, and larger alternative financing (ex. crowd funding).  Procedures for an audit include obtaining an understanding of internal controls, assessing risk, testing accounting records and management's response to inquiries by obtaining corroborating evidence through inspection, observation or confirmation.


A review is when our office would determine whether a business is applying financial reporting and accounting standards correctly.  Typically, this type of report may be necessary for bank when a business is going for a loan, bonding companies or utilizing smaller alternative financing (ex. crowd funding).  Our office would inquire management and apply analytical procedures to validate the presented financial statements.  With this type of an engagement, our office would express limited assurance on the financial statements of a business. 


A compilation is when our office would prepare and assemble a business's financial statements using the business's books and records.  Typically, this type of report may be necessary for bonding companies, or banks when a business is going for a loan but can also be useful for a business's management to determine how their business performed in the prior quarter(s) or annually.  Compiled financial statements provide no assurance. 


Report of Personal Financial Statements

Our office can compile your personal financial statements, should you need them.  Typically, these types of financial statements could be requested by a bank for a loan or for an investment to verify you are an "accredited investor".   This type of an engagement is not an assurance service.