We do not do official “audits” of financial statements. Audits normally run in the thousands of dollars and being a smaller accounting office it is not worth it for us to maintain the “peer review” necessary to perform full-scale audits.
However, we do offer “Reviews of Financial Statements” as well as “Agreed-Upon Procedures.” Reviews are less in scope than an audit. In the case of a review, we look at financial ratios, compare to prior years information, and talk to key personnel. We may have to do more procedures when questions arise. While it is less in scope than an audit, some governing bodies will accept a financial statement review in lieu of a full-scale audit.
Agreed Upon Procedures are exactly what they sound like. They are procedures we are hired to do that are agreed upon between us and the business or non-profit. Instead of providing limited assurance on the overall financial statements, we agree with clients on specific procedures that fit their needs. In turn, we will simply report our findings based upon the procedures that the client and us agreed upon.
Again, if you think you want your books “audited,” but might not need a full scale audit, then feel free to give us a call to see what we can do for you.