Audit Services: Financial Reporting

Perhaps you need reviewed or audited financial statements for financing requirements or for licensing requirements. Perhaps you only need financial reports for your own information. Our firm offers financial reporting services tailored to your needs. At Patricia Salman & Associates, our accountants are members of the American Institute of Certified Public Accountants (AICPA). Our financial reporting services adhere to the high standards set forward by the AICPA, including participation in the Peer Review Program.

Our services fall into three basic areas:

Compilation- You bring in the information, and we organize it into meaningful financial statements. There is no review or auditing of your data. A compilation is used mainly for internal purposes and is a useful financial management tool.

Review- This is a sort of "middle ground" when it comes to financial statement assurance. The accountant does some analytical review of the information underlying the financial statements and provides some limited assurance as to their accuracy as a reflection of the financial state of the business.

Audit- An audit consists of an intensive review of the company's records and operations and requests confirmation from independent third parties verifying the accuracy of certain information. It provides the highest level of assurance on the reliability of the resulting financial statements.

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