Financial Statement Preparation
Your company's financial statements tell more about your business than anything else. Accuracy is vital. An EHTC compilation, review, or audit will give you the information you need to assist in making your business more successful.
Compiled & Reviewed Statements
You may choose to have us prepare compiled or reviewed financial statements. For many situations, a compilation provides business owners and managers with the relevant financial information they need to make well-informed decisions. Reviewed statements are often all that is needed for meeting:
- Bank loan requirements
- Bonding requirements
- Buy/sell agreements
These two statement preparation levels are offered as an accounting service, and we do not express an audit opinion on compiled statements. Reviewed statements require enough procedures to enable us to express we are not aware of any material modifications that need to be made.
The most comprehensive level of financial statement preparation is the audit. When preparing audited statements, we conduct an examination of your company's financial reports in accordance with generally accepted auditing standards. This enables us to express our opinion on the fairness of the presentation of your financial position and operational reports.
Audited statements are helpful in:
- Negotiating bank loans and other credit
- Reporting to regulatory authorities
- Assuring credibility of financial statements for use by partners, stockholders, or bankers
- Developing stock buy/sell agreements
- Meeting bonding requirements
- Safeguarding business assets
- Assuring investors
As part of the audit, we frequently provide suggestions for improvements in internal controls, streamlining of operational processes and minimization of income taxes.