Our Firm is a recognized leader in performing quality and timely audits for a wide variety of industries. An audit provides the highest level of assurance and is often required by lenders, funding agencies and other stakeholders. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.
Our staffing of audit engagements involves careful selection so individuals assigned have the appropriate knowledge and industry expertise. We strive to provide staffing that best fits your individual needs. Our professional audit staff receives extensive training in audit methodology that rivals larger regional and national firms. Our partners take a hands-on approach by being actively involved with each audit engagement and staff workpapers are reviewed in a timely manner so matters of audit significance are identified and resolved in a timely manner. Our approach to audits is based on our assessment of risk in accordance with generally accepted auditing standards and we carefully evaluate each entity. Our methodology, while standardized in a manner to achieve audit efficiency, is not based on a “cookie-cutter” approach for all clients which results in greater quality and effectiveness.
We utilize the latest state of the art technology and all workpapers are electronic and maintained and transferrable in a secure and confidential manner. In addition, we use the same technical research software as an International “Big 4” Firm that provides us with the latest technical for-profit, nonprofit, governmental and benefit plan guidance.
Agreed-Upon Procedures
In addition to audits, we also perform agreed-upon procedures engagements in accordance with attestation standards which include specified financial statement elements and management’s assertion on internal controls. We also perform MAS Court audits for various judicial courts located in the state of Arizona.
Reviews and Compilations
We currently perform review engagements for several privately held companies and nonprofit organizations. Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures. Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA's technical expertise without the work and expense of an audit.
In addition to reviews, we also perform compilation engagements. In compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations do not require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Due diligence
The services of independent CPAs are critical in assessing business acquisition and merger possibilities. Using our audit and accounting skills, we provide a critical function to assist with such decisions.
