We’re committed to maintaining professional audit standards and quality.
Bollus Lynch’s audit and assurance professionals are committed to maintaining professional audit standards and quality. We work closely with our clients to maximize our understanding of their systems and operations. Bollus Lynch, LLP is a member of the American Institute of Certified Public Accountants (AICPA). We are also a member of the Private Companies Practice Section of the AICPA, a voluntary admission that involves certain quality control prerequisites and a peer review of the quality of a firm’s accounting, audit, review and tax practice.
An audit is the most comprehensive examination of your company’s financial statements. We provide reasonable assurance that financial statements are free from material misstatements whether caused by fraud or error. Our audits are carefully planned, effectively supervised, and executed on a timely basis.
During the audit process, we:
If an audit is not required, a review or compilation may meet your needs. These are less in scope and cost compared to an audit.
A review provides limited assurance that there are no material modifications that need to be made to the financial statements. Reviews are typically prepared for entities that have loans or investors that do not require audited financial statements.
The goal of a compilation is to apply accounting and financial reporting expertise to assist management in the presentation of financial statements without providing any assurance on the financial statements. Compilations can be prepared for small, medium, and large businesses that do not need any assurance.