Services
Since 2006, Gladstone and Company has consistently delivered on our goal of providing excellence in professional and advisory services. Contact Gladstone and Company today for more information. We are eager to put our resources to work for you.
We offer three levels of service to meet all of our clients’ varying needs. Board members, residents, lending institutions and federal and state laws may request or require independent assurance or review of their financial statements.
Audit
An audit provides the highest level of assurance. An audit is an unbiased and objective examination of a company’s financial statements. It includes audit procedures deemed necessary by the auditor or as established by Generally Accepted Auditing Standards (GAAS).
An Audit Provides:
- An independent opinion on the content and consistent application of accounting principles within the financial statements
- Compliance with federal and state laws and regulations
- Compliance with loan covenants and financing requirements
- A review of internal controls and processes to design audit procedures appropriate to the engagement
- Testing and inquiry of a selection of transactions, including revenues, cash receipts, expenses and cash disbursements
- Evaluation of the reasonableness of significant accounting estimates made by management
Review
While less extensive than an audit, a review is more comprehensive than a compilation. A review engagement consists primarily of analytical procedures applied to the financial statements, along with inquiries of management and the Board of Directors.
A Review Provides:
- Limited assurance on the content and consistent application of accounting principles within the financial statement
- Compliance with federal and state laws and regulations
- Compliance with loan covenants and financing requirements
- Inquiries of your company’s management and the Board of Directors
- Analytical procedures performed on a selection of accounts within your financial statements
- Limited testing of transactions which appear inconsistent or otherwise questionable
Compilation
A compilation assists management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are not material modifications that should be made to the financial statements.
A Compilation Provides:
- Presentation of management’s financial statements with no expressed opinion or assurance on the content within those statements
- Compliance with federal and state laws and regulations
- Compliance with loan covenants and financing requirements
- No testing, inquiries of management or analytical procedures are performed