assurance and attest
At Albertson & Jones, our assurance and attest services provide you with the necessary tools to satisfy financial reporting requirements and keep up with the increasing demand for transparency. Below is a list of the assurance and attest services we offer:
Audit
Audited financial statements provide the user with the auditor's opinion on whether or not the financial statements are presented fairly, in all material respects, in conformity with the applicable financial reporting framework. In an audit, the CPA obtains an understanding of the entity's internal controls and assesses fraud risk. The CPA verifies amounts and disclosures by obtaining evidence through inquiry, physical inspection, observation, third-party confirmations, examination, and analytical procedures.
Review
A review is less in scope than an audit. In a review engagement, the CPA primarily utilizes analytical procedures and inquiry to provide a basis for obtaining limited assurance that there are no material modifications that should be made to the financial statements for them to be in conformity with the applicable financial reporting framework. In a review engagement, the CPA typically does not obtain an understanding of the entity's internal controls, assess fraud risk, or test accounting records.
Compilation
In a compilation engagement, the CPA works with management to present financial information in the form of financial statements. The CPA does not perform any inquiry or analytical procedures, and does not express an opinion or provide any assurance that financial statements are in accordance with the applicable financial reporting framework.
Audit
Audited financial statements provide the user with the auditor's opinion on whether or not the financial statements are presented fairly, in all material respects, in conformity with the applicable financial reporting framework. In an audit, the CPA obtains an understanding of the entity's internal controls and assesses fraud risk. The CPA verifies amounts and disclosures by obtaining evidence through inquiry, physical inspection, observation, third-party confirmations, examination, and analytical procedures.
Review
A review is less in scope than an audit. In a review engagement, the CPA primarily utilizes analytical procedures and inquiry to provide a basis for obtaining limited assurance that there are no material modifications that should be made to the financial statements for them to be in conformity with the applicable financial reporting framework. In a review engagement, the CPA typically does not obtain an understanding of the entity's internal controls, assess fraud risk, or test accounting records.
Compilation
In a compilation engagement, the CPA works with management to present financial information in the form of financial statements. The CPA does not perform any inquiry or analytical procedures, and does not express an opinion or provide any assurance that financial statements are in accordance with the applicable financial reporting framework.
