Audit, Review, Compilation & Preparation

Regardless of the level of assurance service provided, one fundamental concept remains the same—our understanding of your unique needs. By coupling our insight into your business with the level of assurance needed, we can more efficiently and effectively plan and perform the work.


We provide the following financial statement services:

Audit

An audit is the highest level of financial statement service that a CPA firm provides. Audit opinions are intended to provide reasonable assurance that the financial statements are presented accurately and in accordance with generally accepted accounting principles (GAAP). The CPA will issue a formal report that expresses an opinion on whether the financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting.

Review

A review engagement is conducted to provide limited assurance, primarily through the performance of inquiry and analytical procedures, that the accountant is aware of any material modifications that should be made to the financial statements for them to be in accordance with the applicable reporting framework.

Compilation

The objective of a compilation is to assist management in presenting information in the form of financial statements without obtaining or providing assurance on that information. The compilation report is the first page before the actual financial statements and is written by the CPA on the firm’s letterhead.

Preparation

For preparation services, the firm is engaged to prepare financial statements but not to perform an audit, review or compilation on those financial statements. The accountant is required to state that no assurance is being provided. No formal report issued on the financial statements.

A review engagement is conducted to provide limited assurance, primarily through the performance of inquiry and analytical procedures, that the accountant is aware of an material modifications that should be made to the financial statements  for them tobe in accordance with the applicable reporting framework.
The objective of a compilation is to assist management in presenting information in the form of financial statements without obtaining or providing assurance on that information.
For preparation services, the firm is engaged to prepare financial statements but not to perform an audit, review or compilation on those financial statements. The accountant is required to state that no assurance is being provided.

Contact our audit team

Gary Iskra, CPA

Managing Partner

Paul Nielson, CPA, CFE

Partner

Patty Boynton, CPA

Senior Manager

Ying Li, CPA

Senior Manager


What our clients say about us

“Your approach to analyzing, researching and explaining my tax situation was refreshing and very much appreciated.”

- Kellie F.
Junction City, Client for business tax services