We understand our responsibilities as auditors and have established a stringent quality control policy. We hold each audit we conduct to a high standard of ethics and never compromise our principles. In fact, during our most recent peer review, we received the honor of a “pass” which indicates a high level of internal control and demonstrates our commitment to audit quality.
We provide financial reporting on all 3 levels of assurance:
- Audit: An intensive examination with the highest level of assurance
- Review: Some analytical procedures conducted with limited assurance
- Compilation: Assembling information provided by the client and primarily for internal use
Ageed-Upon Procedures
Today’s fast-paced business environment can often cause some organizations to cut corners while trying to save time and reduce costs. Agreed-upon Procedures (AUP) engagements are available to these organizations who are not required to have a costly audit, but who still want to be aware of any issues affecting the entity. An AUP engagement is one in which a practitioner issues a report of findings based on specific procedures performed on subject matter that is derived by the client. The report is not distributed publicly – it is restricted to those parties that have agreed to the procedures to be performed.
When is an AUP Right for an Organization?
An audit is very thorough but not always necessary, and it can be costly. A review is simpler but does not always communicate issues encountered. The most cost-efficient way to address the functioning of internal controls at your entity is through an AUP. An AUP may be beneficial if you fall under any of these instances: meet any of these criteria:
- Entities that don’t require an audit
- Small to medium sized entities with budgets of less than $1 million
- Entities with small staff size
- Entities with an interest in targeting specific areas, both financial and non-financial
- Entities going through a significant business transaction
- Entities with concerns of internal control processes
