In today's economy, transparency and credibility in financial reporting is an expectation of most internal and external stakeholders. Whether it be shareholders, financial institutions, insurance and bonding companies or general governing bodies, they may require an audit level or review level sign-off on your financial statements in order to conduct business with your organization.
At D&B, our risk-based assurance methodology allows us to provide an independent audit or review opinion on your financial statements in an efficient and effective manner while providing your internal and external stakeholders with confidence in your financial statements.
AUDITED FINANCIAL STATEMENTS
An audit report provides the highest level of assurance available for a set of financial statements, as the audit report expresses an opinion on whether or not the financial statements are presented fairly in all material respects. In order to express this opinion, an in depth examination of the company’s financial statements and records is undergone.
REVIEWED FINANCIAL STATEMENTS
A review report provides a moderate level of assurance to a set of financial statements, as the review report expresses an opinion on whether or not the financial statements appear plausible. In order to express this opinion, a series of analytical procedures and discussions and inquiries with management are conducted.
COMPILED FINANCIAL STATEMENTS ("NOTICE TO READER")
A notice to reader report does not provide any level of assurance to a set of financial statements, as we will simply compile the financial statements based solely on information that is provided by management. Generally, these financial statements are best suited for internal use and filing of tax returns.
Often times organizations may require some level of assurance over information other than its financial statements. In these circumstances, D&B can perform specific agreed-upon procedures in order to issue a specified assurance report. This type of reporting is typically used to provide assurance over an organization's compliance with regulatory requirements, contractual agreements, government regulations and statutes.