Insurance Companies, Sureties, Stockholders, creditors, and private investors often need assurance that come from your CPA.
Your stockholders, creditors, or private investors have different levels of risk tolerance, so at Wesley R. Howell, CPA provide three levels of assurance to meet your needs.
There are 3 levels of Assurance that a CPA can create for your business:
1) Audit – The highest Level of Assurance.
2) Review – Second Highest Level of Assurance.
3) Compilation – Provides no Assurance.
Compilation – Lowest Level of Assurance
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 don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Banks often require compilations from an independent CPA as part of their lending covenants.
Which Report Should You Use?
Each type of financial statement report may suit specific circumstances, depending on requirements from your client’s bank or other parties, as well as meet budgetary needs.
Understanding each report’s unique strengths and weaknesses can help you choose the most appropriate one. Please call Wesley R. Howell, CPA if you have questions about which type of report is right for you.
In order to give you an accurate price for our Business Start-Up services we need to know a little more about your business and what services interest you. Our prices are very affordable.