Audits, Reviews, and Compilation
At Rickards & Company LLP we provide financial reporting on various levels of assurance depending on your company’s needs.
Audits offer the highest level of assurance to the client and third parties. An audit includes in-depth examination of your company’s books and records, internal control systems, and financial reporting processes. We perform audits to ascertain the validity, integrity and reliability of your financial statements. When the audit is completed, we will issue an opinion on your financial statements. We will also provide you with recommendations to improve the efficiency of your financial reporting processes and to maximize the company’s profitability.
Reviews provide limited assurance to the client and third parties. A review is based on inquiries of company personnel and analytical procedures applied to financial data. A review report provides limited assurance that your financial statements are fairly stated in accordance with generally accepted accounting principles (GAAP) and there are no material modifications should be made to the financial statements.
Compilations are limited to presenting in the form of financial statements information that is the representation of the company’s management. A compilation does not offer assurance, but may involve some adjustment to the accounting records.
Management Use Only
Management Use Only financial statements are used for internal purposes only to provide company executives and accounting staff with financial information to assist in the daily and long-term management of their business. There is no report issued with a management use only service.
Employee Pension Plan Audits
Employee Pension Plan Audits performed by our CPA firm meet the independent compliance audit requirement mandated by the Department of Labor and ERISA. These audits are performed for small to medium companies as part of their obligation to file an annual return (Form 5500 Series).