If you own or manage a business, you know that audited or reviewed financial statements enable you to monitor and fine tune the performance of your enterprise, quickly identify and solve problem areas and satisfy the requirements of lenders, sureties and investors.
However, which is best for your business, an audited or reviewed financial statement? And, what is the difference between the two? One key difference is the cost and we believe it is our responsibility to help you to assess which type best suits your needs.
An audit is required if there is a potential for the financial statements to be used by non-owners for purposes of evaluating whether or not to extend credit, invest capital, or security bonds. And, those contemplating sales, going public (IPO) or merger may be required to provide at least three years of audited financial statements prior to the transaction date. By contrast, a review is generally prepared for the assurance of management and as a minimum requirement of most financial institutions, major suppliers and sureties for the purpose of extending credit.
Whether you choose audited or reviewed financial statements, Delucchi Hawn offers the highest level of service. We also employ a number of cost saving methods in planning and executing audits and reviews including use of the latest in computer technology which minimizes field work, compilation and assembly of financial data.
We orchestrate our on-site visit to result in minimal disruption of your business. Our staff is experienced and well qualified. All audited and reviewed financial statements undergo a “cold review” by an experienced partner who, until the review, has not been involved in the assembly of pertinent data. This quality assurance procedure results in the highest degree of accuracy.
We are proud to have been rated at the highest standard of excellence by a panel of peers affiliated with the Private Companies Practice Section of the American Institute of Certified Public Accountants.
Just as we believe it is our responsibility to help you determine which type of financial reports you need, we also believe it is our duty to help you interpret them. Your financial statements will include graphs and charts which we will review together to help you identify key strengths and weaknesses in your business. Together, we will develop effective strategies for dealing with these areas, thus helping you realize a valuable return on your investment in our services.
Let Delucchi Hawn provide your financial tools for success.