Audit & Assurance

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Timely Service with a Targeted Approach

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Financial data is just one element of making sound business decisions.

Audits, reviews and compilations are the financial reporting tools you need to form a complete financial picture of your business. With greater accountability at stake, the accuracy and completeness of your financial reporting is essential. Depending on your situation, LSL provides a full range of financial reporting services for your business.

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Audits

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

Audits

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.

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Reviews

A review involves analytical procedures that provide limited assurance that financial statements are fairly presented.
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Compilations

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

Make sure your audit is in the right hands

LSL provides a full range of audit and financial reporting services including:

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Audits, Reviews and Compilations of Financial Statements

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Employee Benefit Plan Audits

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Internal Control, Accounting System Reviews & Fraud Detection

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Budget Preparation & Analysis

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Cash Flow Forecasts & Projections

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Bank Covenants

Outsourced bookkeeping, controller & CFO services