Instead of an audit, many businesses only need reviewed financial statements. Reviews primarily consist of inquiries and analytical procedures. The reviewed financial statements include notes with the financial statements with additional information for the user. While a review engagement does not offer the same level of assurance as an audit, it is often a sufficient and efficient solution to your external and internal accounting needs.
Similarly, sometimes a business only needs to have their financial statements prepared in accordance with US GAAP without inquiries and analytical procedures. A compilation is the most cost effective and timely solution for that requirement. A compilation consists of us compiling your financial information into presentable financial statements and no assurance is provided on compilations.
Both of these engagements offer an alternative to an audit, but still give you an opportunity to have qualified professionals with knowledge of your industry involved in your financial reporting and business processes.