Assurance Services in Hackensack, NJ
Companies often face the need to undergo assurance services. Shareholders, lenders, and even state and federal governments will need proof that your business’ financial statements are accurate. SRF Accounting Group, LLC provides audits and reviews, two forms of assurance, to businesses in Hackensack, Teaneck, Fort Lee, Paramus, and the surrounding communities.
Why Assurance Services?
The reasons different groups need assurance of financial record accuracy are numerous. One of the most common reasons is that people and organizations who invest in a company, from shareholders buying stock to banks forming lending agreements, need to know that the company is honest about its financial well-being. Another common reason is government regulation: all publically traded companies file annual audit results with the SEC, non-profits must make annual audits demonstrating proper use of revenue to maintain their tax-free status, and all companies can internally use audits to ensure the accurate and timely payment of corporate and sales taxes.
Other commonplace reasons a business may hire SRF Accounting Group, LLC to conduct reviews and audits include selling the business, material fraud deterrence, and personal assurance that the business’ internal controls function properly.
Financial Statement Reviews
Reviews allow our Hackensack CPAs to guarantee a limited amount of financial record assurance. During a review, SRF Accounting Group, LLC will compile your available financial records and analyze them, including asking your company’s management team for the context behind the records. Additional steps can be taken if financial statements and supporting information are inconsistent.
The review does not require us to study a company’s internal controls, investigate assets, or look at third party data. The review is simply a way for a CPA independent of your company to demonstrate whether or not a business is in accordance with generally accepted accounting principles at all.
Financial Statement Audits
Audits are the highest level of assurance available, taking the same steps as a review and then expanding upon them.
One of our Hackensack CPAs will methodically compile and review your financial records, and they will talk to customers, banks, vendors, and other relevant third parties to truly understand where all of your accounts and transactions stand. After completing this in-depth investigation, SRF Accounting Group, LLC will issue a formal opinion regarding whether or not there is any material evidence that your company went against any generally accepted accounting principles. By receiving this written opinion from us, you can confidently demonstrate to a bank, state government, or other body requesting an audit that your accounts and records are accurate.
Contact Our Firm for Assurance Services
SRF Accounting Group, LLC provides business audits and business reviews to the companies of Hackensack, Fort Lee, Paramus, Teaneck, and more. For more information, contact our firm today.