Compilations & Reviews: Financial Assurance Services - Jacksonville, FL
Creditors, private investors and stockholders often need assurance that the financial statements you provide truly represent the financial position of your company. They’re sometimes required by banks, or for compliance, or due to certain contractual obligations. Although generally conducted to satisfy an external entity for legal reasons, these detailed financial examinations can also be extremely valuable internally to provide information that may have otherwise overlooked or neglected. Brock CPA can provide timely, accurate, efficient financial statements that meet the level of assurance you need.
Our assurance services include two levels of financial statement preparation for your business:
• Presented as a representation of management and does not provide any level of assurance
• Compilations do not require an inquiry of management or evaluation of analytical procedures
• A compilation relies on our general understanding of your business and knowledge ofknowledge of accounting to create the financial statement.
• Reviews provide limited assurance that no material modifications are required to be in
conformity with U.S. Generally Accepted Accounting Principles (US GAAP)
• A reviewed financial statement must include all required footnotes and other disclosures
• Both reviews and compilations may suit your needs depending upon your lender, investor or
stockholder’s requirements. Understanding the strengths and weaknesses of both kinds of
financial reports can help you decide which you need. As always, Brock CPA is here to assist.