Audits - Reviews - Compilations
Expert Lowell Audits, Reviews, & Compilations
Outsourced audits, reviews, or compilations can help your business attract new shareholders, secure a loan, or develop a deeper understanding of its financial standing. Our experienced team at Massimino CPA, LLC is ready to provide you with the analytics, insights, and statements you need to comprehend your financial status better and optimize your operations.
Regardless of your industry, our goal is to help you make informed, data-driven business decisions that promote success. To learn how your business can benefit from a professional audit, compilation, or review in Lowell, contact our firm today!
What Are Audits, Reviews, & Compilations?
Our Lowell audits, compilations, and reviews provide three levels of analysis and organization of your financial records. You can trust our accountants to work closely with your in-house team to generate accurate, unbiased, and trustworthy statements. Depending on what you need to achieve, we offer the following:
Compilations: Our team collects your financial data and gathers it into a streamlined, easy-to-follow financial statement. You'll receive a neatly arranged document outlining your financial status from a management perspective. A compilation offers no level of assurance, since during this service we only look at the basic features of your financials and write a summation letter.
Reviews: A review offers a more extensive evaluation of your financial data than a compilation but is less exhaustive than an audit. Our experienced accountants will check your figures for accuracy and verify that the numbers make sense. To verify your financial records, we leverage our advanced accounting techniques, your data, and our knowledge of your business and industry. After completing our review, we offer mid-level assurance that your financial figures appear precise and aligned with GAAP.
Audits: An audit involves a thorough evaluation of your business' financial statements and transactions. While reviewing your accounts, we search for internal control problems, material discrepancies, and significant errors. Our accountants are committed to providing fair, unbiased, and accurate assessments. Once we've completed the audit, we provide you with an audit report detailing our findings and professional opinion. Typically, our audit reports provide a solid assurance and highlight areas of potential improvement and weaknesses that need bolstering.
How Can an Audit Benefit My Business?
There are numerous benefits to receiving an audit from our Lowell firm. If you represent a nonprofit entity, you are required to conduct yearly audits to verify the sources of your funding and check your overall expenses. You may also want an audit for your small or midsize company to understand your financial situation or acquire a substantial bank loan.
When you receive an audit from Massimino CPA, LLC, you can enjoy the following benefits:
- More Confidence in Your Financial Statements: Your potential investors, stakeholders, partners, and financial institutions may require an independent external audit to ensure your company is financially sound. It's an assurance that your figures are correctly reported and the security systems are functioning as intended.
- Robust Internal Controls: Our detailed audit report will address any concerns noted during the evaluation process. By taking our findings into account, you will be well-positioned to rectify and adjust various components of your internal operations. As a result, you can streamline your accounting system, safeguard your assets, and save money.
- Comply with Federal or State Regulations: Depending on your industry, your business may be obligated to undertake regular audits. Professional audit services are a great way to ensure a fair and transparent audit process.
Reasons to Seek a Review or Compilation
A compilation offers external stakeholders a manager's view of your organization's finances. Our skilled accountants arrange your data into ordered documents to allow potential investors and partners to comprehend your situation. We can help you analyze your finances and market your business by simplifying your financial data and making it easily accessible.
A review helps you acquire bank loans by providing accurate and unbiased information about your finances. Your potential investors and partners may also request a review before committing themselves to your organization. Our detailed review will help set their minds at ease and reassure them that your enterprise can adjust to any unexpected market swings.
Lowell Audits for Nonprofits
At Massimino CPA, LLC, we offer audits for nonprofit organizations. Our audit process involves examining your organization's financial records to see if they follow the tax-exempt entity requirements. If our auditors find that these requirements are not met, we will recommend the right course of action to ensure your organization doesn't lose its nonprofit status.
We recognize that regulations for charitable or nonprofit organizations often vary from state to state. Our team strives to help you better understand what roles your organization's board of directors should serve during your audit. If your nonprofit receives any federal funding, such funds often come with special auditing requirements. Our accountants will help you explore them and stay compliant. We will always be ready to provide an audit when the state requires it. Typically, nonprofits must do these independent audits every year.
Your Reliable Team for Lowell Audits, Reviews, & Compilations
At Massimino CPA, LLC, our team is highly skilled and experienced in providing accurate and transparent audits, compilations, and reviews for Lowell businesses and nonprofits. We have the technology and experience to assist you with the financial statements, critical insights, and logistical support you need for financial success. Get in touch with us today to schedule your consultation!