Audits, Reviews and Compiliations


Rely on GBA for Your Audit, Review, & Compilation Needs

GBA is the CPA firm you can count on to give objective analysis and reports on your financial status. When we prepare audits, reviews, and compilations, we rigorously follow all professional standards to ensure you receive reports that are impeccable in every detail. This is our commitment to quality and our commitment to you.

What Level of Assurance Do You Need?

GBA Provides All Financial Statements and Assurance Levels
Reporting on the financial performance of your organization is imperative as well as helpful. Audits, reviews, and compilations assist in financial planning, operating decisions, and investment decisions. In addition, such financial statements allow creditors to evaluate loan applications. 


Determining which financial statement report best suits your needs depends on budgetary circumstances and the parties involved. Learn more about audits, reviews, and compilations below, or contact GBA if you have questions about which type of report is right for you.

  • Audits ‑ High Assurance

    Defined: An audit is an objective examination and evaluation of financial records. All information provided during an audit undergoes a verification process to confirm the financial statements are fairly stated and free of material misstatements. Audits provide the highest level of assurance.
  • Reviews ‑ Limited Assurance

    Defined: A review is a limited analysis of any material modifications that should be made in order for financial statements to be in conformity with generally accepted accounting principles. A review is less comprehensive than an audit; therefore, it is an expression of "limited assurance."
  • Compilations ‑ No Assurance

    Defined: A compilation is the preparation of a report in the form of a financial statement based upon information provided by the company or client. The information being compiled and reported does not go through a verification process and no assurance is expressed that the statements are in conformity with generally accepted accounting principles.

Audit, Review, & Compilation Price Comparison

The price comparison of audits, reviews, and compilations occurs where extended time and assurance levels meet. Audits provide the highest level of assurance because they demand the most time; therefore, an audit is the most expensive service. It is generally known that a review can cost about 30% more than a compilation, and an audit can cost around 30‑40% more than a review. All GBA clients, regardless of the necessary service costs, receive the highest quality of attention and reporting. No matter the cost you pay, you can count on GBA.

OTHER RELATED ARTICLES

0 comments

Visitors

Proud member of the Alliott Group