The way we staff and execute our audits sets us apart from most other accounting firms. The experienced professionals at DMLO handle the work directly with our clients, rather than assigning the job to inexperienced staff accountants and simply reviewing a final product. We believe that experience adds value every step of the way. In fact, our tradition is to hire staff with several years of experience whenever possible. Because we have highly developed systems and procedures in place, our time is managed efficiently so that our audit work, done by seasoned professionals, is still competitively priced.
- Financial statements and reports
- Special purpose examinations
- Reports to regulatory agencies
- Preparation of Medicaid and Medicare cost reports
Reviews / Compilations
Many smaller businesses, especially those owned by a small group of investors or by a family, don’t need full audits unless a purchase or sale is being contemplated or they are needed for a lending institution. An alternative to a full audit is a review, which provides a lower level of assurance, or a compilation, which provides a financial report based entirely on client representations. Many of our clients use such services to conduct their businesses on a long-term basis.
A review consists principally of inquiries of company personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards. (The objective of an audit is the expression of an opinion regarding the financial statements taken as a whole. We do not express such an opinion after a review or compilation.)
Agreed Upon Procedures
This is a CPA term for certain kinds of special projects. When clients need a test of a specific item or issue or they want specific verification by an independent third party, DMLO can perform Agreed Upon Procedures and the project will be tailored to the client’s need.
To learn more or request a proposal, please contact Christine Koenig or call (502) 426-9660.