Financial Statement Audits, Reviews and Compilations

Reporting on the accuracy of your financial information

The accuracy of your financial statements and the validity of the information it contains is fundamental for the success of your organization and the ongoing support of lenders, regulatory authorities, shareholders, and stakeholders.

To fulfill requirements and standards for an audit, review, or compilation, it’s necessary to engage a CPA firm that has made necessary investments in technology, tools, continuing education, and certifications.

The attestation process begins with identifying the exact type of service you require:

Audit:
  • Intended to provide creditors, investors, federal and state agencies, and other outside parties with a high level of comfort on the accuracy of financial statements
  • CPA firm issues a formal report that expresses an opinion on whether the financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting framework
  • Typically appropriate and often required when meeting governmental regulations, seeking high levels of financing or outside investors, or when selling a business
  • Will identify material weaknesses and set the stage for discussions, insights, observations, and guidance for their resolution
Review:
  • Intended to provide lenders and other outside parties with a basic level of assurance on the accuracy of financial statements
  • Typically appropriate as a business grows and is seeking larger and more complex levels of financing and credit
  • CPA firm issues review report
Compilation:
  • Intended for use by lenders and other outside parties who may not require assurance on the accuracy of financial statements
  • Typically appropriate when initial or lower amounts of financing or credit are sought, or significant collateral is in place
  • CPA firm issues compilation report

Solutions

For a discussion of which type of attestation is right for your situation or needs, please contact Meagan Wellbrock, Audit & Attestation Service Line Leader, here for a complimentary, no-cost or obligation consultation.

Industries

Adams Brown provides audit, review and compilation services for companies or organizations in the following industries:

Testimonials

  • For more than 20 years we have had a strong, stable relationship with Adams Brown. Their knowledgeable team has a strong understanding of our business and have been great partners. They have been instrumental in improving our business and financial operations over the years. We have never considered changing firms and would recommend them to anyone without reservation.

    Walt Hill – High Plains Mental Health Center

  • The prompt, personal service provided by the Adams Brown team is the best benefit in working with this firm. They offer knowledgeable advice and help my business plan for any eventual scenario. Their guidance and support show their commitment to helping our business succeed. I would recommend them to anyone looking for an accounting firm that has the best interest of the business and its success at heart.

    John VonLintel – JROBB, LLC

  • Par Exsalonce has used Adams Brown for over 10+ years for our payroll needs and have found them to be informative, helpful and accommodating. The salon is quite large and we are constantly adding new employees to the two locations. In addition, they handle insurance, IRA, Aflac and other deductions we throw at them! The entire team is wonderful to deal with – from the receptionist to the accountants that handle our diverse business needs. We could not ask for a more knowledgeable and dependable group of people. Our thanks to them many times over!

    Teri Mills – Par Exsalonce

  • “With Adams Brown, we don’t just get a financial advisor – we get a business partner. Our engagement team does an excellent job serving our needs and continually works with us to develop a plan for long-term success. When we come to them with a question, they go above and beyond to get the answer. Knowing we have that kind of support and dedication from our CPA is important. Our company has been in business a long time, and having a partner like Adams Brown will help keep us on a successful path for many years to come.”

    Gary Shorman – CEO, Eagle Communications, INC.

  • “I own a small business that has been running for over 40 years. I am proud to say we have been with Adams Brown for many of them! I am very pleased with the service they provide and their commitment to helping me grow my business. When I first began working with Adams Brown, I received guidance and a set of guidelines to follow that helped me achieve my business goals. I have full confidence that if I am unable to reach my main contact, I will still receive the best service so that I can stay on track. I highly recommend the team at Adams Brown.”

    Dan Woolard – Midway Manufacturing, INC.

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What’s Next

The real estate business is transforming at a rapid pace. Technologies and disruptors such as blockchain, virtual and augmented reality, machine learning, and automation are changing the business model.

As a result, the opportunities in the industry are endless. All you have to do is seize them!

Financial Statement Audits, Reviews and Compilations Team Leader:

Meagan Wellbrock

Financial Statement Audits, Reviews and Compilations

Contact Us:

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Auditors | Accountants | Consultants | CPAs – Adams Brown is a Certified Public Accounting firm serving high net worth individuals and businesses across the central United States, including Kansas and Arkansas offices in Wichita, Kansas City, Great Bend, Colby, Hays, McPherson, and Jonesboro (AR). The firm provides a variety of tax, audit, consulting, and advisory services to guide businesses toward their goals.  Key industries served include agriculture, construction, government municipalities, professional services, and manufacturing.  To help businesses recover from the COVID-19 pandemic, we provide a variety of consulting services including outsourced accounting, cash flow planning, and comprehensive tax review.