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Assurance Services

There’s a reason why compilations, reviews or audits of your organization’s financial data are called assurance services. They assure you – and your bankers, business partners or possible merger partners – that your business reporting is financially accurate.

Assurance services are also a valuable business tool that can help you identify changes you need to make in your operations to assist your organization’s success. The financial data can provide the following:

  • Help owners and/or managers make operating decisions
  • Enable banks and creditors to evaluate credit applications
  • Provide individuals with information to make investment decisions
  • Provide constructive solutions for maximizing your organization’s profitability and efficiency

We provide the following assurance services for businesses and not-for-profit organizations.

Reviews - Many banks want some form of assurance from small-business owners before lending them money but realize that an audit might be too expensive. They therefore require an independent CPA to provide a review report to give them limited assurance that the financial statements are fairly presented. This type of review is most often performed for nonpublic companies whose securities are not traded on an exchange. It involves inquiries and analytical procedures that confirm financial statement matters and identifies any items requiring further analysis.

Compilations – Now, picture the case of a small business owner who is both the owner and manager of her company. It might be the case that she wants financial statements prepared so that she can assess her own performance, but does not require a great deal of assurance regarding the reliability of the numbers because she is the one who provided them to the CPA. In essence, the person providing the information is also the user of the report, so it would not be necessary to have an independent auditor provide assurance on the reliability of the financial statements. In this case, the owner/manager would probably hire the CPA to perform a compilation because it would cost less money and would be sufficient for her purposes. A compilation is based upon client information provided and used primarily for internal use.

Helping the Decision Making Process

At Breneman & Company, we go above and beyond examining the facts and figures of your financial reports. We provide the following as part of our service:

Provide Management Suggestions - We provide management with suggestions on how to improve your organization and review the implications of both current and future transactions.

Search for Opportunities - Our team will search for opportunities that will increase your organization’s performance and efficiency. Suggestions may vary from office and technology efficiencies, compliance with laws and regulations to ideas on increasing services or improving your bottom line.

Formal Presentation – Upon request, we will present the financial statement and suggestions to the owners or board of the organization. This gives us a chance to go over the financial information and answer any questions that may arise. This provides a very beneficial question and answer period.

Provide Credibility

Our assurance services not only provide credibility, but also enhance your financial reporting by the personal attention and business advice we provide to each of our clients.

Committed to Integrity and Ethics

Our clients understand that we are committed to integrity and ethics. We emphasize independence and objectivity to ensure we maintain a high level of confidence in the assurance services we provide.

Tailored Approach

We offer a tailored approach, which is achieved through regularly scheduled meetings, early planning and knowledge of your operation functions. This helps us identify key areas that enable us to tailor our procedures to the unique aspects of your operations. The result is an effective and efficient service performed in a timely manner by highly qualified professionals.