Accounting & Auditing
Experience the level of financial service that’s right for you:
Audits are prepared for companies because outside third parties such as banks, creditors or investors require an auditor’s opinion on the soundness of the financial statements. Auditors are required to do certain things by the generally accepted auditing standards, including corroborate the amounts and disclosures in the financial statements with evidence. Auditors issue a report and an opinion. This level of service is time-consuming, and therefore more costly.
A financial review involves a CPA assessing financial statements and performing analytical procedures and inquiries. The CPA issues a report stating the review was performed according to the Statements on Standards for Accounting and Review Services. The report provides limited assurance that there are no material modifications that should be made to the financial statements. Reviews are often prepared for privately held companies because of requirements of outside third parties such as banks, creditors and potential purchasers to feel comfortable that there are no financial misstatements.
An accounting compilation is a low-cost auditing service. Its purpose is to assist managers in presenting financial information in the form of financial statements. Compilations carry no assurances that there are no misstatements, and they are usually done for simple situations like lender requests.
Accurate financial projections can be valuable tools in business planning and long-term planning. It’s a picture of the future of your business, based on historical data and best estimates for future. A full projection includes an income statement, balance sheet, cash flow statement, various supporting schedules and notes explaining the key assumptions. Jones Advisory’s experts offer certified projections for a variety of reasons, including debt refinancing, growth models and acquisitions.