Audit and Review Services
Are you looking for solutions to help maximize your company’s profitability and efficiency? Maybe you want to add credibility to your financial statements for the purposes of applying for a loan or grant. Or, perhaps it’s important to you to remain transparent for your stakeholders and investors. Whatever the case, you can find confidence in HBE’s assurance services.
When it comes to providing you with clarity and peace of mind, HBE will help you determine the level of assurance needed:
- Audit: An audit provides the highest level of assurance that your organization’s financial statements are fairly stated in all material respects in accordance with your financial reporting framework. This service involves an extensive examination of your systems and records. Our auditors must obtain an understanding of your organization’s internal controls, determine major risk areas, collect audit evidence to support the financial information provided by your organization, and prepare the appropriate financial statements. The overarching goal of an audit is to enhance the degree of confidence in the accuracy and reliability of your organization’s financial statements.
- Review: A review provides limited assurance that no material modifications are necessary for your organization’s financial statements to be fairly stated in accordance with your financial reporting framework. This service may bring attention to significant matters affecting financial statements; however, unlike an audit, it does not provide assurance that all significant matters will be identified. When providing review services, our reviewers are not required to obtain an understanding of your organization’s internal controls.
- Compilation: Compilation services involve the assembly of your organization’s financial information into appropriate financial statement format. These services are not designed to provide any assurance that your financial statements fairly state the financial position of your organization. When providing compilation services, our professionals do not perform inquiries, analytical procedures, or review audit procedures, nor do they obtain an understanding of your organization’s internal controls.
- Agreed Upon Procedures: An agreed upon procedure engagement allows our accountants to provide specific procedures for your organization, based upon your organization’s needs. These services provide no assurance that financial statements are free from material misstatements. When providing agreed upon procedure services, we will report on the procedures performed and the related results, but will issue no formal opinions or conclusions from those results.
For further information on our assurance services, please contact us today at 402.423.4343.