Stockholders, creditors, and private investors often need assurance that the financial statements accurately represent the true financial position of a company.
Your stockholders, creditors, or private investors have different levels of risk tolerance, so we provide three levels of assurance to meet your needs.
Audit - Highest Level of Assurance
Our firm specializes in performing audits for local governments, not-for-profits, HUD properties, non-issuer broker-dealers, and local insurance companies. An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.
Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.
An Audit allows you to...
Satisfy stakeholders such as employees, customers, suppliers and pressure groups, as well as the investing community, as to the credibility of published information.
Facilitate the payment of corporate tax, goods and services tax, and other taxes on-time and accurately, thereby avoiding interest, penalties, and investigations.
Comply with banking covenants.
Help deter and detect material fraud and error.
Facilitate the purchase and sale of businesses.
Here's what you get...
You get the highest level of assurance because we go outside your company to obtain more information. Typically, we'll have written communication with:
Your customers, to check outstanding receivable balances,
Your banks, to confirm cash or debt balances and terms,
Your vendors, to verify outstanding payable balances, and
Your attorneys, for information on pending or threatened legal action.
We also perform physical inspections by observing your inventory counting methods and perform test counts. We document and test each operating cycle, including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client's supporting work papers.
Audits Not Just for Public Entities
All public companies are required to have an annual audit, but some nonpublic entities must undergo an annual audit as well. These include local governments, not-for-profit agencies and other organizations receiving government grants.
Moreover, some financial institutions require audits of nonpublic companies based on the financing amount and/or the bank's assessment of the company's risk. Also, companies with absentee ownership (such as those owned by investment firms, or individuals who no longer run the business) may order audits as checks of their management teams.
Find comfort in knowing an Expert in accounting is only an email or phone-call away.
We will happily offer you a free consultation to determine how we can best serve you.
Use our client portal to securely deliver a file to a member of our firm.
We have worked with Cropper Accountancy for over 15 years and have been tremendously impressed with their communication,
their attention to detail and their follow-up. Everyone we have encountered at the firm has
been responsive and polite and we value our relationship with them.
Romney White, Managing Member of HUD Multifamily Housing
Cropper Accountancy Corp conducted our year-end audit in an efficient, friendly, and knowledgeable manner. It was a first-year
audit, and they came up to speed on our business model and practices very quickly. Concurrently,
they took the time to advise us of upcoming GAAP and tax rulings that could affect our business,
and how to navigate the changes. John, Bryce and Emily are more than our auditors - we consider
them partners in our quest to expand and improve our business.
Karyn White, Growth Point Technology Partners