Freyman CPA performs services that provide varying levels of assurance with respect to your financial statements. Whether you simply want a set of financial statements prepared for your own use, or are required to provide audited financials to a third party, we can assist.
We can prepare financial statements for your business to use internally. There is no formal report, but rather this is intended for your own planning, analysis, and budgeting within your business. This is generally done as part of the bookkeeping services that we provide.
We can compile your financial statements for external reporting needs, such as when your business is seeking a low-value loan or other form of financing. We do not express an opinion or provide any assurance that the financial statements are free of material misstatement with this level of engagement, but this is a cost-effective way to prepare your financial statements if a potential lessor will accept them.
The next level of service that we can provide is a review, in which we provide limited assurance on the financial statements. This may be appropriate when you are required to submit financial statements to outside parties who seek a basic level of assurance.
We can provide reasonable assurance that the financial statements are free from material misstatement as part of an audit engagement. If your business is preparing to seek outside investment, merge with another business, or be sold, an audit is appropriate.