Audit, Review and Compilation Engagements
Financial Statements have never been more scrutinized and difficult to prepare then they are in today's world. Third party users of the financial statements expect complete and accurate financial statements. This can be a challenge with accounting standards changing constantly. Baratz & Associates has the knowledge and experience to ensure our clients have financial statements that are complete, accurate, and meet the needs of owners and third party users.
Baratz & Associates is committed to the highest standards when performing audits, reviews and compilations. We are a voluntary member of the AICPA Employee Benefit Plan Audit Quality Center and participate in the AICPA Peer Review Program with our latest inspection resulting in an unmodified opinion.
Audit Engagement
We perform our audit engagement services in accordance with Generally Accepted Auditing Standards. Our audit engagement approach tries to serve as a benefit to the owners and not just to fulfill a third party requirement. The external audit engagement process requires a qualified professional with knowledge of accounting and a broad understanding of business and finance to investigate and determine whether all assets and liabilities shown are actual, and that they are properly incurred, valued, and recorded.
We have extensive experience providing auditing services to both private and public companies and employee benefit plans. Acting as our client's independent auditor our audit engagement team will examine financial statements and accounting records in order to express an opinion as to the truth, fairness and adherence to Generally Accepted Accounting Principles.
Review and Compilation Engagements
We perform review and compilation engagement services in accordance with the Statement on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.
Our compilation engagement services consist of presenting in the form of financial statement information that is the representation of management.
A review engagement goes more in depth than a compilation in that we perform inquiries of company personnel and owners as well as perform analytical procedures to certain financial data.
Reviews and compilations are substantially less in scope than an audit but are very beneficial to our clients.