AUDIT AND ASSURANCE
A comprehensive review of your organization’s reporting and accounting procedures empowers your ability to protect its good standing and reach your business goals.
Armed with a thorough understanding of your organization, its operations, and processes, Brinker Simpson delivers confidence, integrity, and consistency in a full range of assurance solutions, including audits, reviews, compilations, and more. We understand our clients look to us to bring possible errors and issues to light and provide insights that help improve their accounting processes, interpret historical trends, and position them for enhanced profitability and cash flow.
From frequent communication to insightful observations, our risk-based, client-focused approach provides a solid foundation.
AUDIT, REVIEW, AND COMPILATION ENGAGEMENTS
To satisfy the requirements of lenders, investors, and other stakeholders, high-quality audited financial statements are critical. Brinker Simpson’s audit professionals possess deep knowledge from their experience in serving diversified industries and complexities.
The first step is key; working with you to understand your business and its risks, then customizing our audit approach to focus on the company and its environment. The outcome is an audit that uncovers deep insights for more strategic decision-making through the effective use of advanced data analytics and business applications.
In performing an audit in accordance with generally accepted auditing standards, we:
- Exercise professional judgment and maintain professional skepticism throughout the audit.
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events considered in the aggregate that raise substantial doubt about the company’s ability to continue as a going concern for a reasonable period of time.
Our financial statement review process is less extensive than an audit. A review engagement includes primarily applying analytical procedures to management’s financial data and making inquiries of company management. Our method of using analytics to the company’s current and historical data against industry information, combined with our ability to ask the right questions, results in valuable information for our clients. In addition, we help our clients understand their business to better evaluate their overall operations.
A compiled financial statement provides the lowest level of assurance. Our service is based on obtaining general knowledge of the organization and preparing your financial information as management is responsible for the financial statements. The compilation engagement is performed in accordance with Statements of Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the American Institute of Certified Public Accountants (AICPA).
If you have questions or need assistance, please contact our office at 610.544.5900.