- Financial Statements
- Agreed Upon Procedures
- Forensic Accounting
Audit of Financial Statements
These are financial statements for which an auditor issues an opinion in the form of a report, as to whether a entity’s financial statements are fairly presented, in all material regards and in accordance with generally accepted accounting principles (GAAP), the entity’s financial position, results of operations, and cash flows. This is the highest assurance that a certified public accountant can offer.
Review of Financial Statements
These are financial statements for which an accountant issues a report, giving limited assurances, as a basis for reporting, whether the accountant is aware of any material modifications that should be made to the financial statements of the entity for them to be in accordance with the applicable financial reporting framework, primarily through the performance of inquiry and analytical procedures.
Compilation of Financial Statements
These are a client’s financial statements which the accountant has read and understands the applicable financial framework, and managements significant policies and considers that such financial statements appear to be appropriate in form and free of from obvious material misstatements, to which a report is attached giving no assurances as a basis of reporting.