AUDIT & ASSURANCE
Remember the “trust game”? The one where you blindly fall backward and trust that your partner will catch you?
What if the “trust game” applied to your financial information? Do you have the confidence to share your financial information based solely on internal reports?
Thousands of business professionals rely on financial reports to make decisions every day. And as the saying goes, the decision is only as good as the information provided.
In today’s business environment, creditors, shareholders and business partners require an objective look at both the financial condition and operations of a business so they can make more informed and accurate decisions.
At Kernutt Stokes, we’ve built a reputation in Oregon and beyond for helping clients of every size implement reporting processes that allow them to run more profitable operations. We provide a wide range of expert business assurance services to meet the needs of large, publicly traded organizations, small start-ups, and everything in between.
Determining the Level of Service You Need
The American Institute of Certified Public Accountants (AICPA) has standards that allow CPAs to offer three traditional levels of assurance on financial statements. Those three levels include audits, reviews, and compilations. We can help you determine which level of service best meets your needs.
Audits – An audit entails understanding internal controls, outside verification of selected items and many other detailed procedures that allow us to render an opinion on the financial statements.
Reviews – During a review, we make certain inquiries and perform analytical procedures that allow us to express limited assurance on the financial statements.
Compilations – A compilation entails obtaining information from your staff and placing it in the form of financial statements, without expressing an opinion or assurance on them.
In certain situations, instead of one of the traditional assurance services listed above, it may be advantageous for us to provide agreed-upon procedures or customized consulting services to achieve your objectives. We will help you evaluate the alternatives to determine the best way to meet your needs.