At Teipen, Selanders, Poynter & Ayres, P.C. we are experienced in financial statement preparation and consulting. We provide audit, review and compilation services for businesses, non profit organizations and individuals. We also provide agreed upon procedures where you tell us what needs to be reported on.
There are three levels of financial statement reporting. The highest level of reporting is an audit and they are generally required by lenders or governmental agencies. Reviews are a popular request from lenders for all types of businesses and provide limited assurance that there are no material adjustments needed. The compilation is the lowest level of financial statement service available and are usually used internally by management.
Projections and forecasts are prospective financial statements which indicate future results based upon certain assumptions or how things might look should certain activities occur. Agreed upon procedures are usually at the request of the client and are performed to test certain specific areas of concentration.