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Financial statement audits provide the highest level of assurance and give you confidence in the reliability and accuracy of your financial statements. At RBK, we provide full audit services by examining your organization’s financial statements to determine if they are fairly presented and in accordance with generally accepted auditing standards. Our work includes physical inspections, analyzing your internal control structure, conducting substantial testing of transactions and communication with third parties. Based on our findings, we form an independent opinion and issue a report on whether the financial statements are fairly stated and free of material misstatements. We perform audits of non-profit organizations, private companies and governmental entities, including Yellow Book and Single Audits.
If your organization need financial statements, but do not necessarily require them to be audited, a review may be a good middle ground. Reviews consist primarily of analytical procedures applied to the financial statements and inquiries of management, to provide limited assurance, rather than a formal opinion, on the financial statements. These statements help ensure that staff, board leadership and other potential users are confident when relying on your financial statements. Since we are not required to provide full assurance on the statements, reviews are quicker and less expense to produce than a full audit.
When compiling financial statements, we rely on the information provided to us and our knowledge of your business to provide the lowest level of assurance on your financial statements. The accompanying report states that the financial statements are the representation of management, and that no opinion or assurances are offered on them. Compilations often fulfill lending covenants at a lower cost than reviewed or audited financial statements.
RBK can also preform agreed-upon procedure relating to specific financial information. We carry out procedures of an audit nature, and report the factual findings directly to you.