An audit is designed to give reasonable assurance that a company’s financial statements are fairly presented and free from material misstatement. Finding fraud isn’t the primary purpose of an audit, but if an auditor comes across signs of fraud during the engagement, they are required to bring it to your attention. What Does Fraud Risk …
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If your lender is asking for audited financials, or a potential investor wants to see reviewed statements, or you simply need professionally prepared financial statements for a loan application, you need assurance services. But knowing which type of assurance service is right for your situation can be confusing, especially if you haven’t needed one before. …
When most business owners think about audits, reviews, and compilations, they think about compliance. Meeting a lender’s requirement. Satisfying an investor. Checking a box. And while those are legitimate reasons to engage assurance services, they tell only part of the story. The value of a well-executed audit, review, or compilation extends well beyond what ends …
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Spring is a busy time for business financing. Companies pursuing term loans, lines of credit, or equipment financing often discover (sometimes for the first time) that their lender requires a financial statement audit. If that’s where you find yourself, understanding what bank audit requirements are needed and how to prepare can make the process significantly …
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For many businesses, summer is prime time for a 401(k) audit. The bulk of this work happens between May and September, so if your plan includes an audit requirement, now is the time to get your documentation in order. A little preparation now goes a long way toward a smoother process later. Does Your Business …
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Your first financial audit can feel overwhelming—like that dentist appointment you’ve been putting off. The anticipation is often much worse than the actual experience, and understanding what to expect can help ease those pre-audit nerves. At CJG Partners, we guide small and mid-market businesses through audits regularly, and we’re here to help, not to catch …
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For many small business owners, the need for assurance services is clear, but choosing the right option often feels like navigating a maze. Assurance services are independent professional services that enhance the reliability and credibility of information for decision-makers. These services, often provided by CPAs, assess the accuracy and effectiveness of financial information, internal controls, …
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