Financial Statements

Get Accurate Financial Statements

Compiling Your Financial Statements

The compilation of financial statements is defined as a service; the objective is to assist management in presenting financial information in the form of financial statements. Trevino Associates PC CPAs utilizes information that is the representation of management (owners) without undertaking to obtain any assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework.

Trevino Associates PC CPAs is responsible for conducting the engagement in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

Have Your Financial Statements Reviewed

The review of financial statements is defined as a service; the objective of which is to obtain limited assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

A review includes primarily applying analytical procedures to your financial data and making inquiries of company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. A review does not contemplate obtaining an understanding of the entity's internal control; assessing fraud risk; testing accounting records by obtaining sufficient appropriate audit evidence through inspection, observation, confirmation, or the examination of source documents; or other procedures ordinarily performed in an audit. Accordingly, we will not express an opinion regarding the financial statements as a whole.

Reporting to Your Management

Our engagement cannot be relied upon to disclose errors, fraud, or illegal acts. However, we will inform the appropriate level of management of any material errors and any evidence or information that comes to our attention during the performance of our review procedures that fraud may have occurred. In addition, we will report to you any evidence or information that comes to our attention during the performance of our review procedures regarding illegal acts that may have occurred, unless they are clearly inconsequential.
Preparing for an audit

Preparing for an Audit

In compilation, review, and audit engagements, management has responsibilities. Trevino Associates PC CPAs can assist in audit preparation tasks to significantly reduce your audit bill. Inquire about our consulting services.
Compilations

Services for Compilations

In any engagement, Trevino Associates PC CPAs will establish an understanding with management regarding the services to be performed for compilation engagements. The understanding will include the objectives of the engagement, management's responsibilities, the accountant's responsibilities, and limitations of the engagement.
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