Reviews & Compilations
Whereby your Bergen County NJ company’s financial statements indicate the actual fiscal position of your company to your stockholders, creditors and private investors, all of whom have dissimilar risk tolerances, we can offer you two different levels of assurance to accommodate your specific requirements.
A review engagement, while less comprehensive than an audit, but more complicated than a Compilation, compromises a series of investigative measures we carry out by evaluating your financial statements, making inquiries, and other measures as dictated by the situation. If we were to discover any inconsistencies in any of our preliminary findings, we may then decide to implement further measures.
A review neither governs that we scrutinize your company’s accounting and auditing for its effectiveness, financial reporting and overall compliance. Nor does it impose us to confirm information with third parties or review assets. Instead, a review report merely conveys limited assurance stating that a company’s financial statements are deemed plausible, free of any misstatements, have not been materially modified, and are thought to be inconformity with the GAAP (Generally Accepted Accounting Principles).
Review engagements offer a company another form of assurance and expertise without expending the time, effort and undue expense of a full audit.
Relying solely on our ideologies and knowledge of your business without having to evaluate your financial statements, make inquiries or other investigative measures, we can present a compilation as information that factually represents your company without expressing opinion or assurance regarding your financial statements.
Depending on your specific circumstances, requirements or budget, a review or compilation may be appropriately suited. Knowing the difference between the two different reports by understanding their attributes will assist you in selecting the most suitable one for your needs.
Call us today to learn more about our reviews and compilation services in Bergen County, NJ
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