The highest level of assurance offered through North Star Tax and Accounting is an audit. During a proper audit, a certified public accountant will review your companies internal control procedures. They will assess the likelihood of fraud in association with your financial statements and provide assurances that the necessary inspections, evaluations, and testing has been conducted to support their statements.
An audit is quite time consuming both for the CPA as well as the client. The required documentation can be extensive and can take some time to gather.
To complete a successful audit, a CPA is required to compile evidence through personal inquiries, workplace visits, physical inspections, employee interviews, and other verification and testing procedures.
Audits are used to ensure your financial statements and records are free from errors and fraud. A high level assurance provided by an audit can be required for many reasons. Usually an audit is required if your are trying to secure a large amount of financing, a government entity may assume control in the future, you are trying to raise equity in a business, you are looking at buying a business, your are anticipating an initial public offering, or you are interested in selling your business.
If you are interested in completing a thorough audit through a professional CPA, schedule a free consultation with North Star Tax and Accounting