From the small closely held company to the large multi-state and multi-location non-publicly traded company, we offer a wide variety of financial services including audits and reviews of financial statements to evaluation of the internal control structure of the Company.
Audited financial statements provide users with reasonable assurance that the financial statements present fairly, in all material respects, the financial position and results of operations of the company. In addition to the stockholders of the Company, external users of financial statements such as investors or creditors, may need the assurance that audited financial statements provide a fair presentation of the financial statements. Even if you are a small closely held company, you may desire these services from our trained auditors.
Reviewed financial statements provide limited assurance that the financial statements are fairly presented. A review of financial statements consists principally of inquiries of company personnel and analytical procedures applied to the financial data. Since a review is substantially less in scope than an audit, we can provide this service at a lower cost to the Company and this service may be better suited for a small closely held company.
At times management may also need a trained outside professional to evaluate operations to determine if the proper controls are in place to ensure proper handling of resources. The professionals at Britts & Associates, LLP can assess the internal controls to determine the efficiency and effectiveness of operating procedures. This assessment can lead to recommendations that will aid management in correcting inefficient or ineffective operating procedures. The evaluation of internal controls can also determine if any material weakness exists in the control structure of the Company that could lead to the loss of Company assets.
Our Auditing Services Include:
- Audits of financial statements of non-publicly traded companies
- Review of financial statements
- Evaluation of internal accounting and operating controls
- Special Purpose Audits
- Single Audit Act engagements
- Audits of State of Texas programs
- Audits of retirement plans (full scope and limited scope)
- Audits of trust or non-profit entities
- Audits of local governments and municipalities
- Determination of compliance with applicable laws and regulations