The three most common services we provide to small businesses and nonprofits are:
Whether your organization needs an audit for bank financing, loan covenants or to meet a legal requirement, West Rhode & Roberts provides the highest-quality audit and assurance services available. Accounting rules only become more complex, and our staff is well versed in current regulations and standards for auditing and accounting. Are you trying to finance expansion by issuing a bond? Are you applying for grants or submitting bids for government contracts? Are you trying to look good to a potential partner or acquirer? Assurance and professionally prepared financial statements will give you a compelling advantage.
For companies and organizations that need their accounting records presented in the form of financial statements, a compilation is a good choice. Even without West Rhode & Roberts’ assurance on the financial statements, a compilation provides a clear picture of your company’s financial situation based exclusively on the information you provide. A compilation differs significantly from a review or an audit of financial statements. In preparing compilations, West Rhode & Roberts does not employ inquiry, analytical procedures, or other procedures performed in a review. Additionally, we do not attempt to understand the organization’s internal control; assess fraud risk; test accounting records by obtaining sufficient appropriate audit evidence through inspection, observation, confirmation, or the examination of source documents (for example, cancelled checks or bank images); nor execute any other procedures originally performed in an audit. Accordingly, we will not express an opinion or provide any assurance regarding the financial statements being compiled.
Many companies and organizations need the assurance that comes from having West Rhode & Roberts conduct a review of their financial statements, even though they do not require an audit. In performing a review of your financial statements, West Rhode & Roberts applies analytical procedures to your financial data and makes inquiries of company management. A review is substantially smaller in scope than an audit, and, as such, we do not attempt to understand your organization's internal control; assess fraud risk; test accounting records by obtaining sufficient, appropriate audit evidence through inspection, observation, confirmation, or the examination of source documents (for example, cancelled checks or bank images); nor employ other procedures ordinarily performed in an audit.
As the complexity and ambitions of your company grow, so does the need to have audited financial statements. Banks, venture capitalists, funding sources, contributors and other interested parties want to know how your organization is doing. Financial statements audited by West Rhode & Roberts provide a clear picture of your organization’s health. Our objective in an audit is to express an opinion about whether your financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and will include tests of your accounting records and other procedures we consider necessary to enable us to express such an opinion.