Financial Statement Services
Your financial statements tell a story—to your lenders, your board, your donors, and your leadership team. A financial statement engagement gives that story credibility. Whether you need the highest level of independent assurance or a straightforward compilation for internal use, KatzAbosch’s Accounting and Auditing team is here to help you get it right.
We work with businesses across Maryland and the Mid-Atlantic region. Before we begin any engagement, we take the time to understand your organization, your industry, and who will be relying on your financial information.
Financial Statement Audits
An audit provides the highest level of assurance available on your financial statements. Our team conducts a comprehensive examination—reviewing relevant data, making inquiries with your personnel, and confirming information with third parties where appropriate. The result is an independent opinion on whether your financial statements are fairly presented in all material respects, in accordance with generally accepted accounting principles (GAAP) or another applicable basis of accounting.
Organizations typically require audits when lenders, investors, boards, grant-making bodies, or regulators need a high degree of confidence in the accuracy of your financial information.
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Financial Statement Reviews and Compilations
Not every organization needs a full audit. A review or compilation may be the right fit depending on what your stakeholders require.
A review provides limited assurance that your financial statements are fairly presented in accordance with GAAP or other applicable accounting standards. Our process consists primarily of analytical procedures and inquiries of your personnel, drawing on our understanding of your industry and your specific business circumstances. A review is often appropriate when a full audit isn’t required, but stakeholders need more than compiled financial statements.
A compilation presents financial information provided by your management in the form of financial statements. We read the statements for obvious errors or misstatements but do not verify the underlying data or provide assurance as to whether the statements conform to GAAP or another basis of accounting. Compilations are a practical option for internal use or when third parties don’t require a higher level of assurance.
Financial Statement Preparation
Accurate, well-prepared financial statements are essential for making informed business decisions and meeting the needs of lenders, investors, owners, and other stakeholders. KatzAbosch assists organizations with the preparation of financial statements in accordance with GAAP and other applicable reporting frameworks, helping make sure financial information is presented clearly, consistently, and professionally. Whether you need year-end financial statements, management-use reports, or statements prepared for financing and compliance purposes, our team works closely with your organization to deliver timely, reliable reporting that supports your business objectives.
Projected and Forecasted Financial Statement Services
When you need to plan ahead for budgeting, tax planning, financing, or bringing in investors, projected and forecasted financial statements give you and your stakeholders a structured, CPA-prepared view of your financial future. Our team works with your management to develop reasonable projections based on your goals, assumptions, and current business conditions, in accordance with AICPA standards for prospective financial information.
“Special Community Benefits Districts are unique, and what we learn about our organization through the audit has been invaluable. KatzAbosch is dedicated to that experience.”
Financial Statement Audit Insights
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