Are you looking for objective insight into your processes and controls? Do you need to add credibility to your financial statements to apply for a grant or loan or meet ongoing debt covenants? Or perhaps you are interested in ensuring transparency and evaluating your organization’s risks. Whatever the driving factor – be assured that MHP’s assurance services are the right fit.
Our goal is to offer you a different perspective and insight into your finances. Based on your entity’s needs, let MHP help you determine the level of assurance needed:
An audit provides the highest level of assurance that your organization’s financial statements are fairly stated in all material respects in accordance with your financial reporting framework. This service involves an extensive examination of your systems and records. Our auditors must obtain an understanding of your organization’s internal controls, determine major risk areas, collect audit evidence to support the financial information provided by your organization, and prepare the appropriate financial statements. The overarching goal of an audit is to enhance the degree of confidence in the accuracy and reliability of your organization’s financial statements.
A review provides limited assurance that no material modifications are necessary for your organization’s financial statements to be fairly stated in accordance with your financial reporting framework. This service may bring attention to significant matters affecting financial statements; however, unlike an audit, it does not provide assurance that all significant matters will be identified. When providing review services, our reviewers are not required to obtain an understanding of your organization’s internal controls.
Compilation services involve the assembly of your organization’s financial information into appropriate financial statement format. These services are not designed to provide any assurance that your financial statements fairly state the financial position of your organization. When providing compilation services, our professionals do not perform inquiries, analytical procedures, or review audit procedures, nor do they obtain an understanding of your organization’s internal controls.
An agreed upon procedure engagement allows our accountants to provide specific procedures for your organization, based upon your organization’s needs. These services provide no assurance that financial statements are free from material misstatements. When providing agreed upon procedure services, we will report on the procedures performed and the related results, but will issue no formal opinions or conclusions from those results.
Our full spectrum of assurance services are specialized to your industry. We have vast experience in providing assurance services to commercial, government, educational institutions, nonprofits, and employee benefit plans. Contact MHP, LLP today to learn more about how our assurance services can benefit your entity.
We understand that no two companies are alike and your needs are different from everyone else’s. Our specialized assurance team can also assist you with: