Audits, Reviews,
& Compilation

Improve Your Internal Systems

Phillips CPAs and Advisors’ financial statement services comprise all three levels of assurance depending on your company’s needs. Our distinctive business approach recognizes that the primary objective of auditing financial statements cannot be completed effectively unless the entity behind those financial statements is thoroughly understood.

We dedicate a substantial amount of time to developing a current understanding of our clients’ issues and requirements. This in-depth knowledge of your organization brings a vital perspective that enables us to conduct the audit of financial statements with enhanced efficiency and effectiveness.

The core idea behind understanding your organization is to incorporate procedures that precisely achieve the defined objectives of each audit. To assess the results of our efforts and explore opportunities for enhancing our service, we offer a closing conference with your organization. Our approach is tailored to meet the unique needs of each client, ensuring proper planning and customization for executing final fieldwork with improved efficiency and effectiveness, while also meeting your deadlines.

We have assembled a leadership team with specific industry experience that will be accessible and keep you apprised of our progress throughout the audit.

AUDITS

Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We perform audits for you to remove errors, ascertaining the validity and reliability of your information.

REVIEWS

Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.

COMPILATIONS

Compilations are usually requested for internal purposes and are based upon information provided by a company’s management. They do not offer assurance but may involve some adjustment to accounting records.

In addition to the above, we also offer a full suite of internal audit advisory services such as design & implementation of internal controls, outsourced operating effectiveness testing of controls, and general business advisory to improve your internal processes.

Ready to talk?

For more information or a free consultation
contact Phillips CPA Firm at 864-236-1380
or fill out the form on our contact page.