Putting YOUR needs first!
√ Relaxed client atmosphere
√ Affordable pricing
√ Easy, convenient access
√ Solutions for all businesses
√ Expedited services are available
Financial Statement Review
Ernest Tomkiewicz, CPA, specializes in review, compilation and audit services. We walk you through each step of the review process, so even if you have no knowledge of what’s involved, we can help. Contact us for a free no pressure quote on your next service or to get a financial statement review checklist so you know to prepare the documents you need prior to financial statement services.
Financial statement work can take several forms, from financial statement preparation, to compilation, to financial review services and audit services. Knowing which you need, or are being required to have produced, is the beginning of the process.
Here are explanations of the areas of financial statement work from the American Institute of Certified Public Accountants (AICPA).
What is Financial Statement Review & Compilation
As part of a review service the CPA performs analytical procedures and other methods to obtain “limited assurance” on the financial statements. This is intended to provide users with a level of comfort on their accuracy.
A review is the minimum level of CPA assurance services. With reviewed financial statements, if the CPA determines there is lack of independence, they cannot perform the review engagement. The other two levels of assurance include compiled financial statements and audits.
Industry
Understanding the industry in which you operate is a requirement placed upon the CPA. This includes knowledge of the accounting principles and practices generally used in the industry.
In addition, the CPA is required to have a knowledge of you which includes the accounting practices and principles that you follow. They must have knowledge to sufficiently identify areas in the financial statements where it is likely that a material misstatement may occur.
Scope
A review is substantially less involved than an audit in that the CPA does not contemplate obtaining an understanding of your internal control.
There is no assessing of fraud risk, testing of accounting records either through inspection, observation, outside confirmation or examination of source documents. These procedures are generally used in an audit.
Report
With reviewed financial statements, the presiding CPA issues a formal report which includes a conclusion as to whether based on the review, the CPA is aware of any material modifications that should be made to the financial statements in order for them to be in accordance with the applicable reporting framework.
A review is used as a business evolves and grows sufficiently to seek higher levels of financing. As well, it is used by the business owner for evaluation and key decision making due to the greater level of information integrity.
[testimonial_view id=”1″]
Remote & Local Financial CPA Reviewed Financial Statements
If you are looking for certified financial statements or financial statement review services in the Concord, NH area, we can help. Ernest L. Tomkiewicz CPA serves Concord, New Hampshire and the surrounding area.
Contingent to CPE reciprocity, our firm can provide you with financial statement services including CPA compiled financial statements and reviewed financial statements in most contingent U.S. states. We also have a Certified Fraud Examiner on staff.
More Information About CPA Prepared Financial Statements
Some of our favored accounting apps include QuickBooks, Xero and Zoho.
Helpful resources when looking for financial statement review services are:
You can also check your federal tax refund, research New Hampshire state tax information or access financial calculators here.
Feel free to explore these resources and tools and contact us when you’re ready to attain the best local financial statement review in Concord, New Hampshire or remote financial statement review.
