Compilations, Reviews and Audits


Certified Public Accountants can issue Compilation, Review or Audit Reports on client financial statements.  Depending on the user and purpose of the financial statements, certain reports may be more meaningful than others.  At Pereira & Azevedo, LLC we help our clients understand the difference of these reports and which one would best suite their needs.  As each report provides different levels of assurance to the reader, it is critical that the use of the financial statements is understood.  Banks, investors, and shareholders are all potential users.  We work with our clients to understand which is best for their particular situation and outline the terms of each job with a detailed engagement letter so that the goal of the engagement is clear.  This helps ensure the end user will have a meaningful financial statement of your business.

Our financial statement department has acquired a specialty niche in construction company financial statements.  The construction industry mandates that financial statements in accordance with Generally Accepted Accounting Principals be prepared on the percentage-of-completion method of accounting.  This method of accounting is very detailed and tracks the percentage complete on a job-by-job basis.  Bonding companies are very specific about who?s financial statements they will accept.  Pereira & Azevedo, LLC had developed an excellent reputation amongst this industry and our financial statements are held in high regard.

 

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T: (973)466-1663 F: (973)466-1665 E: info@njcpas.com

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