Audits, Reviews, Compilations
Gladstone, Strum & Company Certified Public Accountants offers three distinct levels of service designed to cater to the diverse requirements of our clients, including board members, residents, lending institutions, and those complying with federal and state laws. Experience Excellence in Professional and Advisory Services with
Audit
For the highest level of assurance, our audit services involve an impartial and objective examination of your company’s financial statements. Our procedures are in line with Generally Accepted Auditing Standards (GAAS) and are tailored to provide:
An Audit Provides:
- An independent opinion on the content and consistent application of accounting principles within financial statements.
- Compliance verification with federal and state laws and regulations.
- Assurance of compliance with loan covenants and financing requirements.
- A comprehensive review of internal controls and processes.
- Testing and inquiry into selected transactions, including revenues, cash receipts, expenses, and cash disbursements.
- Evaluation of the reasonableness of significant accounting estimates made by management.
Review
While less extensive than an audit, our review engagement offers more depth than a compilation. It includes analytical procedures applied to financial statements and inquiries of management and the Board of Directors.
The review provides:
- Limited assurance on the content and consistent application of accounting principles within the financial statement.
- Compliance verification with federal and state laws and regulations.
- Assurance of compliance with loan covenants and financing requirements.
- Inquiries about your company’s management and the Board of Directors.
- Analytical procedures performed on a selection of accounts within your financial statements.
- Limited testing of transactions that appear inconsistent or otherwise questionable.
Compilation
For a streamlined presentation of financial information without assurance, our compilation services assist management in presenting financial statements.
This service includes:
- Presentation of management’s financial statements without expressed opinion or assurance.
- Compliance verification with federal and state laws and regulations.
- Assurance of compliance with loan covenants and financing requirements.
- No testing, inquiries of management, or analytical procedures are performed.