Audit, Review, and Compilation
From the design of internal controls to full financial reporting, an assurance of integrity and compliance is crucial to good business. We offer services ranging from targeted projects to traditional financial statement audits to help you and others better understand and manage your financial picture.
Audit
If you’re preparing your business for a merger, acquisition, or are preparing to request a line of credit from a financial institution, the other party will likely request an audit.
This audit provides an expert, unbiased assessment of your business’s financial state, including the appropriate presentation of your financial statements.
Audits must adhere to generally accepted auditing standards to produce an opinion as to whether financial statements are presented fairly in accordance with accepted accounting principles or another comprehensive basis of accounting.
- A full risk assessment
- An evaluation of internal controls
- Testing individual transactions
- Confirmation of key balances
Henry & Peters conducts external audits for a wide array of businesses and entities. We employ a practical, professional approach that’s rooted in ongoing communication.
The Audit Process at Henry & Peters
Throughout the audit process, we gain an understanding of your entity which allows us to improve the quality of the information used to make decisions in your business. We also provide teams of professionals with diverse backgrounds and experience who can deliver insights and advice on your business that go far beyond the annual audit. We believe this is the most valuable aspect of our audit service and it is our goal to assist our clients in making financial planning decisions that will benefit them in the near and long term.
Review
Like an audit, reviews are performed under strictly defined standards and provide limited assurance on financial statements.
A review will analyze financial accounts and produce a set of reviewed statements and footnotes.
However, unlike an audit, there is no testing of individual transactions or confirmation of key balances, which saves you both time and money.
Compilation
Henry & Peters also offers compilation services to assist your entity’s management with presenting financial information in the form of financial statements, without undertaking to provide any assurance that there are no material modifications that should be made to the financial statements.
Industry Specializations
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Financial Institutions
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Employee Benefit Plans
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Non-Profit
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Oil & Gas
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Healthcare
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Engineering & Manufacturing
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Construction
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Small Businesses
Fraud Reporting
Fraud is a serious offense with far-reaching impact. If you have concerns related to accounting, auditing, internal controls, financial reporting, misappropriations, or any other form of financial misconduct, dishonesty or fraud, we encourage you to speak to one of our Certified Fraud Examiners.