Audits, Reviews, and Compilation
You work hard to grow your business and we will ensure you preserve as much of your money as legally possible. Ronald A. Muscarella, CPA, and the Tax Relief CPA team provide business owners with a full spectrum of accounting and tax services so that you can maintain a clear picture of your financial status to make informed decisions about your business’s growth.
In advance of a merger or acquisition, the sale of the business, to increase your profitability or provide projections for loans or investment services, we will prepare your company’s financial statements with the highest accounting standards through three general levels of financial statement services: audits, reviews, and compilations.
Audits are usually intended to provide creditors, investors and other outside parties with the utmost level of comfort on the accuracy of the financial statements. They are frequently required when organizations are seeking financing, outside investors or are selling a business. While audit procedures are not required for compilations or reviews, they provide the maximum level of assurance that an organization’s financial statements are free of misstatements and are equitably presented.
Reviews require all of the procedures necessary for a compilation with additional requirements that enable Ronald A. Muscarella, CPA and the Tax Relief CPA team to provide limited assurance that there are no material modifications that should be made to the financial statements.
A review is narrower in scope than an audit and is typically appropriate as a business grows and seeks larger or more complex levels of financing and credit. In a review, our team will issue a formal report that includes our conclusions as to whether we are aware of any material modification that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework.
During a compilation, Ronald A. Muscarella, CPA, and the Tax Relief CPA team apply our accounting and financial reporting expertise to assist business owners and managers in the presentation of their financial statements. A compilation is a simpler level of service and typically requires fewer procedures and less time than reviews and audits.
Led by Ronald A. Muscarella, CPA, our team will compile and review your business’ financial data and will issue a financial statement that complies with the uppermost level of professional accounting standards.
- Includes a review of compiled financial statements
- Is typically intended for use by lenders and other outside parties
- Is appropriate when seeking initial or lower levels of credit or financing or significant collateral is in place
- Includes a compilation report
Contact Ronald A. Muscarella, CPA and the Tax Relief CPA team at (954) 746-7801 for a free, no-obligation consultation to see if an audit, review or compilation is right for you.