At Aspire Accounting, we provide comprehensive audit and attestation services to businesses and nonprofit organizations, both locally and across the U.S. Whether you are expanding your business, negotiating a loan, seeking investment, or entering new transactions, accurate and reliable financial statements are essential. Aspire Accounting ensures that your financial reports are thorough, informative, and in compliance with regulatory standards.
Our services are designed to give you confidence in your financial statements, allowing you to make well-informed business decisions and maintain trust with stakeholders. We collaborate closely with clients to determine the most appropriate financial reporting approach and offer tailored solutions for each situation. Aspire Accounting’s audit and attestation services are aligned with the highest standards, including those set by the AICPA and other governing bodies.
We offer a range of services to meet your organization’s needs:
Compilations
A compilation is typically the first step for businesses that lack internal accounting staff. In a compilation, a CPA prepares financial statements based on the data provided by management, but does not perform any audit or review procedures. While no assurance is provided about the accuracy of the financial statements, clients often rely on compilations to demonstrate the use of professional services for their financial reporting.
Reviews
A review offers a more in-depth analysis than a compilation and provides limited assurance regarding the accuracy and completeness of the financial statements. During a review, a CPA evaluates the financial information provided by management but does not offer an opinion on whether the statements comply with GAAP. Reviews are often required by lenders or other stakeholders who need assurance that there are no material modifications necessary for the financial statements to be in line with generally accepted accounting principles.
Audits
An audit provides the highest level of assurance for businesses seeking reliable financial statements. In an audit engagement, a CPA thoroughly examines financial records and internal controls to determine whether the financial statements are free from material misstatements. The audit process includes testing financial transactions, assessing fraud risks, and confirming account balances with third parties. The audit report, which may include suggestions for improving internal controls, provides valuable insights for management and decision-makers.
Agreed-Upon Procedures
In an agreed-upon procedures engagement, the CPA performs specific tasks as defined by the client and other stakeholders. These procedures may be tailored to address particular areas of concern, such as business acquisitions or financial transactions. The CPA reports factual findings, but does not offer opinions or conclusions, leaving it to the client or stakeholders to make any final decisions based on the results.
Why Your Business or Organization Might Need Audit and Attestation Services
There are several reasons why you may require Aspire Accounting’s audit and attestation services:
- Applying for Business Loans: Lenders often require a review or compilation of your financial statements to assess your creditworthiness and ability to repay a loan.
- Attracting Investment Capital: When seeking investment, investors may require an audit to ensure the reliability of financial information, especially in larger or more mature companies.
- Government Contracting: Certain government contracts may require businesses to demonstrate financial accountability through a review or audit to meet collateral and financial reporting standards.
- Selling Your Business: If you’re selling your business, a financial audit may be necessary to provide accurate information to potential buyers, especially if the sale involves company shares.
- Nonprofit Organizations: Nonprofits may be required to conduct annual audits or reviews depending on their size and funding sources. Aspire Accounting offers comprehensive services for nonprofits to ensure accurate and transparent reporting.
Trusted Audit and Attestation Services for Your Organization
Aspire Accounting offers tailored audit and attestation services designed to meet the unique needs of your business. Whether you need a basic compilation or a detailed audit, we are committed to providing accurate, reliable, and insightful reports that support your business objectives. Contact Aspire Accounting today to schedule a consultation and learn how we can assist with your audit and attestation needs.