Audit & Assurance Services
Audit and Assurance Services
A large part of being an effective decision maker in any business is having the right information at your fingertips. That is exactly what our audit and assurance services provide to you. With our assistance, you’ll have the knowledge and confidence that are required to make well-informed decisions that may have your organization seeking greater profitability and market share. When you need professional, independent audit and assurance services in the Hudson Valley, contact Joel Cymrot CPA.
Financial Statement Audits
Your company’s success depends largely on the decision makers having ready access to accurate, complete financial statements. Joel Cymrot CPA is adept at preparing financial statements that give your management team a clear picture of where the organization is today. This makes it much easier to plan for the future and find ways to cut expenses and maximize profits. If your organization does not already have a reliable system for producing financial statements, Joel Cymrot can help. You’ll find that financial statements provide an accurate reflection regarding the status of your company. They may also help you identify patterns and inconsistencies.
Government (Yellow Book) Audits
The Generally Accepted Government Auditing Standards, or the Yellow Book, provides standardized guidelines for accounting procedures. The experts at Joel Cymrot are prepared to conduct a Yellow Book audit of your company’s accounting practices to ensure that they are in compliance. Doing so means more accurate reporting of your company’s financial outlook as well as ensuring that your financial reporting to the government is timely, inclusive and efficient.
When your company isn’t ready to complete a full, formal audit, you may decide to have a compliance review performed instead. A review is less comprehensive, yet it can still identify potential problem spots or troubling patterns. Once identified, these problems may be subject to a more in-depth review. Routine compliance reviews can also be powerful tools that ensure that your company is always following government bookkeeping and reporting guidelines. In fact, a simple review can be an excellent method for uncovering issues before they develop into full-blown problems. Contact the auditing professionals at Joel Cymrot CPA to see if your organization might benefit from a compliance review.
A compilation is a less formal review of your company’s financial statements. The standards of the accounting profession are kept in mind for a compilation, but compliance with Generally Accepted Accounting Principles is not assured. A compilation is intended to provide a general understanding of the business and the accounting principles used to track its financial status. It is a higher level review that provides an immediate snapshot that may need modification for more formal reporting purposes.
Occasionally, a company sets a standard that must be understood by the CPA before an audit can commence. The client discloses the standard or procedure to the CPA so that the practitioner can evaluate it and present findings based upon it. Typically, the client is looking for very specific results in a narrow area of focus. This means that the results of this audit will only be reported to a select group of individuals who were involved in putting the agreed-upon procedures in place. Regardless of the complexity of agreed-upon procedures within your organization, Joel Cymrot can assist you with accurate auditing and assurance services.