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In order to make impactful business decisions, you need a clear picture of your financial footing. The best way to assess your performance and earn the trust of potential partners is through an independent evaluation of your financial statements. William Vaughan Company will work with you side-by-side to determine the best level of service to fit your individual needs. Whether you require an audit, review or compilation, our audit and accounting team will personally guide you through the process and provide solid insight to identify areas of risk or opportunity.
We offer three different levels of financial statement assurance:
An audit is the highest level of financial assurance an accounting firm can provide a client. An audit includes an in-depth examination and confirmation from outside parties with regard to the validity of the data presented in a financial statement.
A review, while limited in assurance, provides a reliable view of a company's performance. It serves as a middle ground, providing the advantage of a CPA's technical expertise without the extent of an audit engagement. Often times, a review is adequate for entities required to report their financial standing to third parties, such as lenders or investors. A review consists primarily of analytical procedures to confirm financial statement data.
A compilation is the most basic level of assurance service. It involves preparing financial statements based on knowledge of generally accepted accounting principles (GAAP) — the set of rules regarding financial accounting and reporting. Compilations do not require inquiries of management or analytical procedures. A compilation is useful to small, privately held business which needs assistance gathering and presenting financial information.
We also provide: