Assurance
As an independent professional, RiverRidge CPA & Business Solutions provides assurance services allowing business owners to get a clearer, more concise picture of the business itself. This provides credibility to a company’s financial picture and objectively present information allowing companies better decision making capacity
Review
A financial statement review is a service under which the CPA obtains limited assurance that there are no material modifications that need to be made to an entity’s financial statements.
Review engagements go a step further than a compilation, adding inquires about company personnel and analytical procedures to financial data, as well as limited assurance that there doesn’t need to be any material modifications to a companies financial statements.
Compilation
A compilation is an accounting service in which an accountant prepares financial statements without expressing any assurance that the statements are accurate and complete or in conformity with Generally Accepted Accounting Principles.
Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
An accountant generally performs few, if any, procedures, and is substantially less than a review or audit report.