Review Service: Deliverables:
• Preparation of Financial statements & required footnote disclosures
• We will issue a report upon completion of our review of your financial statements
• Preparation of IRS Form 990
• Preparation of NYS Form CHAR 500
Review Services: Summary and Info:
The objective of a review is to obtain limited assurance whether we are aware of any material modifications that should be made to the financial statements.
A review includes primarily applying analytical procedures to your financial data and making inquiries of your management but does not included applies the procedures on account balances used in an audit engagement.
We will inform you of any material errors, fraud, or other illegal acts but have no responsibility to identify and communicate deficiencies or material weaknesses in your internal control system.
A review is substantially less in scope than an audit and is focused on the financial statements only. The review does not include procedures regarding the entity as whole as required in an audit. For example, a review does not contemplate obtaining an understanding of the entity’s internal controls; assessing fraud risk; testing accounting records by obtaining sufficient appropriate audit evidence through inspection, observation, confirmation, or the examination of source documents; or other procedures ordinarily performed in an audit.
An attest engagement is an engagement that requires independence, such as an audit or review. Nonattest services are services provided to attest clients that are not specifically related to the performance of the attest engagement. In order for us to maintain independence, management has to assume specific responsibilities in regard to the nonattest services provided. Non-attest services include making accounting adjustments and the preparation of the financial statements.
Preparation of the informational tax returns will be in accordance with the Statements on Standards for Tax Services issued by the American Institute of Certified Public Accountants and U.S. Treasury Department Circular 230.