Where an audit may be necessary, Pierce Firm, PLLC can assist you by performing a review of your financial statements. A review provides a limited form of assurance as to whether any material modifications should be made to the financials statements for them to be presented in accordance with Generally Accepted Accounting Principles (G.A.A.P) or another comprehensive basis of accounting. Based on our knowledge ad understanding of your business and industry, we perform inquiry and analytical procedures to obtain a reasonable basis to express such limited assurance.
A review differs significantly from an audit, in which the auditor provides reasonable assurance that the financial statements, taken as a whole, are free of material misstatement. A review does not contemplate obtaining an understanding of the entity’s internal control, assessing fraud risk, tests of accounting records, and other procedures ordinarily performed in an audit.