Dabbs, Hickman, Hill & Cannon, LLP can provide the auditing and accounting services you may need. We offer the three traditional services in providing assurance on financial statements as well as other accounting services such as monthly or quarterly “write-up” services, forecasts, projections, internal control reviews, and the performance of other agreed-upon limited procedures. We will present your financial statements in an informative manner to reflect pertinent information for your use in making vital business decisions.
Brief descriptions of the three traditional services with respect to financial statements are as follows:
During an audit, we examine a company’s financial statements in accordance with generally accepted auditing standards. An audit offers the highest degree of assurance regarding financial statements. An audit requires an understanding of the company’s internal control structure and requires significant testing of financial transactions including confirmation with outside parties, physical inspection and observation of inventories, tracing transactions to supporting documentation, and a number of other tests. After the performance of these audit procedures, we then express an opinion as to whether the financial statements are fairly presented in conformity with generally accepted accounting principles.
In a review, we analyze a company’s financial statements and issue a report giving a limited degree of assurance. During a review of financial statements, we obtain a working knowledge of your business and the industry in which it operates. We make inquiries related to the financial statements and apply analytical procedures to identify any unusual items or trends that may need explanation.
A compilation involves taking financial information provided by a company or individual and arranging it in financial statement format. A compilation has no degree of assurance, but is adequate for certain purposes. In performing a compilation of financial statements, we obtain an understanding of your business and its transactions and how those transactions are recorded. We then compile the financial statements from the information provided by you.