Financial Statement preparation for proprietorships, partnerships and corporations and non-profit entities
Compilation Engagement (Notice to Readers)
Preparation of financial statements on this basis does not provide any assurance that the statements are produced from records prepared in accordance with generally accepted accounting principles. In fact, the report accompanying these statements states that they may not meet the needs of the reader. These financial statements are normally prepared for small businesses that use the statements only for internal use and in filing income tax returns. The fees for this type of engagement generally range from $1,200.00 to $5,000.00, depending on the size and complexity of the business.
Financial statements prepared on this basis require a more detailed retailed review of the business records and provide assurance that the review procedures did not uncover any reason for us to state that the statements are not in accordance with generally accepted accounting principles. Many financial institutions require their borrowers to have annual financial statements prepared on this basis. The fees for this type of engagement would be approximately double the fee for a compilation engagement
Audited financial statements prepared give assurance to the reader that the results of the operations and the assets and liabilities are fairly stated and the statements are in accordance with generally accepted accounting principles. The fees for an audit are typically double those of review engagements.
Specified Auditing Procedures
We also carry out specified auditing procedures required on real estate and notaries public trust accounts.
Post Financial Statement Management
In addition to your historical financial statements you may need to prepare future oriented financial information. From cash flows to complete financial projections we at Ann Harper Inc. can do it all for you.