Assurance Services in Tulsa, OK
Various stakeholders in your company, from investors to banks to the IRS, will need proof that your company is operating within all legal and contractual bounds. This proof comes in the form of an assurance procedure conducted by an outside CPA. Briscoe, Burke & Grigsby LLP provides assurance services in Tulsa. Schedule a consultation today to see how we can help you.
Audits produce the highest level of assurance. After completing the audit, Briscoe, Burke & Grigsby LLP issues a report explaining whether we found the financial statements to be fairly stated and lacking material misstatements.
An audit is a systematic and objective examination of the financial statements of a company, and it can include the verification of specific information when our Tulsa firm or the general practice of the audited business deem it necessary. Internal controls are reviewed, selected transactions are tested, and third parties are communicated with as part of the investigation. All of these steps help us generate the honest, educated opinion about how your financial statements are maintained.
With the audit report, your enterprise can demonstrate your adherence to best business practices to outside interests. Employees, customers, suppliers, investors, and other stakeholders in your company can be satisfied by the report. You can also better enable the payment of various business taxes, as well as the facilitation of buying and selling your venture. In addition to these, the report helps you comply with banking covenants.
A review engagement is an analysis of financial statements and inquiries of the management team to confirm the consistency of the statements. This assurance procedure can help determine if other investigative procedures are necessary. If all records seem to be in conformity to the Generally Accepted Accounting Principles, we issue a limited assurance statement expressing that adherence to GAAP with footnotes and disclosures.
Reviews are a good middle ground between only presenting information (compilations) and the time-consuming, high-cost examination of that data (audits). If a stakeholder only needs to know that you have maintained GAAP, they may request a review.
Compilations are the lowest level of assurance service. Your numbers and financial statements are compiled together to present the information that is considered a representation of management. Inquiries of management and other analytical procedures are not included.
While the compilations do not have the same weight as audits or reviews, they are still an important part of maintaining an agreement with a bank or other financier of your business.
Contact Us for Assurance Services
If your business needs help satisfying stakeholder concerns, call our accounting firm in Tulsa today to discuss audits, reviews, and compilations. Briscoe, Burke & Grigsby LLP offers assurance services near Tulsa, helping businesses in the area survive in the marketplace.