Prove Your Value

Audits

An audit provides you with assurance as to the reliability of your financial statements. An outside party, who may have a significant financial interest in the company and desires third party assurance regarding the financial statements, often requires an audit. Some possible situations which may require an audit would be:

• The company needs additional financing to fund an expansion.
• The owner is contemplating a sale of the business.
• Shareholders demand an audit for determining a value of the company for purposes of a buy-sell agreement.
• The owner or board of directors wants additional comfort from an objective third party on the financial position of the company.

Apex CPAs & Consultants, Inc. is a licensed Certified Public Accounting firm qualified to audit your company’s financial statements. Audited financial statements prepared by Apex CPAs & Consultants, Inc. include our opinion stating that we have audited the company’s financial statements and have provided reasonable assurance about whether the financial statements are free of material misstatements.

Our audits also include:

• Financial Analysis. Financial analysis performed in connection with an audit helps you make more informed business decisions. We concentrate on identifying trends, which can assist management in recognizing the company’s strengths and weaknesses. The philosophy we express to our clients is, “What you can measure you can manage, what you can manage you can improve.”
• Understanding of Internal Control Structure. As part of the audit process, we obtain an understanding of your company’s internal control structure. This enables us to make recommendations to improve internal controls that can provide safeguards on assets and improve operating efficiency.
• The Management Letter. At the conclusion of the audit, we will provide management with a letter which summarizes business recommendations for improvements in operating efficiency and internal controls discovered during the audit. These recommendations are always communicated verbally with management. Our goal is to help management provide solutions that will improve the success of the company.

When audited financial statements are not appropriate, Apex CPAs & Consultants, Inc. can provide the following accounting services to help you achieve these goals:

Reviews

A review consists of inquiries of company personnel and analytical procedures applied to financial data. While a review is significantly less in scope than an audit, it does involve a significant degree of knowledge and understanding of your business and industry. We will also analyze and evaluate your financial situation. The knowledge we gain during the review can be put to good use in advising you in the future. When the review is complete, we will assist your personnel with necessary adjustments.

A review is beneficial in the following ways:

• The inquiry and analytical procedures we perform emphasize significant variances within the financial statements or between the current and prior years.
• Our review opinion on the financial statements provides you and your bank with limited assurance that no material modifications need to be made to the financial statements.

Compilations

In many instances, management’s requirements are limited to presenting company prepared financial data in proper financial statement format. We can compile your financial data into a format that is accepted by readers of financial statements. A compilation can also benefit your company by assisting in any year-end adjustments that need to be made to more accurately reflect the company’s financial position and results of operations.

Contact Apex CPAs in St. Charles, IL and Phoenix, AZ today at 630.584.4555 or use the form below to get in touch.