AUDIT & ASSURANCE SERVICES
Provide by Summers, Spencer, Callison, CPAs, Chartered  

Audits
A financial audit, or more accurately, an audit of financial statements, is the examination by a Certified Public Accountant of the financial statements of a entity, resulting in the independent opinion on whether or not those financial statements are fairly presented in all material respects.  An audit is the highest level of assurance a CPA can express. 

If your company is a regulated entity because of incorporation or because of securities trading, you are required to submit audited financial statements.  Audits can also be instrumental in formulating management decisions, and can uncover systemic risks to a company.  

Reviews
A financial review is substantially less in scope than an audit.  A financial review involves inquiries and analytical procedures to provide limited assurance that the financial statements are free of material misstatements.

Compilations
A financial compilation is gathering, collecting, and presenting the financial information for an entity in the form of a financial statement.  There is no assurance expressed on the financial statements.

Agreed-Upon Procedures 
In an agreed-upon procedure engagement, a CPA firm is retained to issue a report of findings based on specific procedures performed on predetermined subject matter.  Agreed-upon procedures differ from audits because in an audit, the auditors issue an opinion based on their findings. No opinion is issued in an Agreed Upon Procedure engagement.

Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals.