Financial Audits, Reviews & Compilations
To attest is to witness, to formally certify that something is true with clear evidence. Apart from any tax issues, creditors, shareholders and potential partners to your business need objective third-party assurance that your business is viable and, hopefully, profitable. Just as you need good records to manage your personal affairs without failure, your business needs organization of its finances and control of its financial procedures and records. Dunham Associates CPAs have the experience and credentials to certify a company’s finances in audits.
Dunham Associates CPAs provides Audits, Reviews and Compilations that meet AICPA standards. GAAP methods must be used and there are industry-specific formula (e.g. percentage completion methods in construction) and disclosure requirements which follow the latest SSARS guidelines. The AICPA has explicitly developed standards of attestation about financial statements that protect all stakeholders in your business from fraud and waste by making attestation a legally-protected function of CPA’s operating within CPA firms using explicitly required standards (SSAE’s):
- “adequate technical training and proficiency.”
- “adequate knowledge of subject matter.”
- “…subject matter evaluated according to suitable criteria of objectivity, measurability, completeness and relevance.
- “…independence…—intellectual honesty and impartiality necessary to reach an unbiased conclusion.
- “due professional care in the planning and performance of the engagement…”
Speak to our partners about the level of assurance you need for your business. Provided there are no legal or professional prohibitions, we can combine the thorough overview of your business with helpful business and tax advice that enables you to prosper.
Audits
Public Corporations with SEC registration require comprehensive audits meeting the highest standards, and CPAs or executives can risk jail time for failing to protect the public from financial abuse. The auditor(s) independently verify by personal experience, analytical procedures, confirmation by sampling or statistics and assessment of internal controls that a company’s financial reports are substantially accurate. Relatively costly and extensive, audits provide the highest level of assurance of honesty and accuracy of statements and footnotes.