An audit is a process for testing the fairness, accuracy and completeness of information presented in a company’s financial statements.

This testing process enables an independent CPA to issue an opinion on how fairly and accurately the organization’s financial statements represent its financial position. Typically, annual financial statements are subject to audit while interim statements are not.

Our audit work is in accordance with Generally Accepted Accounting Principles (GAAP). We perform a test of your financial data, analyze the information, and gather an understanding of your company’s internal control process and how it impacts your financial reporting process. Professional standards also require that we obtain a sufficient understanding of a company’s internal control in order to plan the audit. However, an audit does not automatically provide any assurance concerning internal control.

A compilation involves obtaining information from management to prepare a financial statement (without expressing an opinion).

A compilation is an internal report on the financial condition of a company.