Audits | Reviews | Compilations
Audit: Berdon develops its audit approach based on firsthand knowledge of our clients’ individual technology, infrastructure,and processing environments. We integrate industry expertise, business knowledge, and risk assessments, in order to produce high-quality audit deliverables in accordance with accounting principles generally accepted in the United States (GAAP).
Review: The scope of a review is substantially below that of an audit, and is based on our understanding of the client’s organization and environment in which it operates. In performing a review, Berdon professionals analyze procedures, make inquiries, and obtain management representations. The results of this process allows the Firm to state that it is not aware of any material modifications that should be made to the client’s financial statements in order for them to conform to GAAP and other reporting frameworks.
Compilation: A compilation gives the lowest level of assurance on a client’s financial statements. A compilation report indicates that the information in the financial statements is the representation of management and that our Firm has expressed no opinion on the content.The overall goal of a compilation is to assist in determining if the financial statements comply with the disclosure requirements of GAAP and other reporting frameworks.
For all these reasons, assurance and accounting services provided by Berdon should never be viewed as commodity services. We deliver a meaningful report and management letter that help organizations move forward and give confidence to boards of directors as well as lenders.