- "Surrounding yourself with people you can trust is advisable, but more often than not, they are too close to the situation to have objective input; one simply can't see the forest for all the trees IF you're standing in the middle of the forest."
- Tiffany N. Frohling, CPA
ASSURANCE SERVICES - Reviews and Compilations
Assurance services are primarily comprised of Reviews and Compilations. The more rigorous of the two, Reviews are a primarily done in order to provide "comfort" to lenders, shareholders, or regulatory agencies. However, Reviews can also provide management with insight into the challenges they face on a day to day basis. Accurate and timely information is the key that allows internal personnel to adjust or modify their processes and/or the decisions they are making on a daily basis. It really boils down to the fact that you can't fix what you can't see. Accounting processes and moreover business processes can be flawed, without detection or improvement for years. This happens because people within an organization tend to be biased. Without interjecting someone who is independent, who has nothing to gain or lose, but who's only objective is to be accurate, we lose the ability to see things for what they really are and not what we would like them to be.
Financial statement compilations are provided to organizations to assist in determining the status of an organization's health. The financial statements provide management with the knowledge necessary to assess the organization's past performance and assist in development of future strategies and goals. If you've ever heard the advice, "the best predictor of the future is the past", - it's usually true, unless you do something proactively to redirect the outcome. However, it is our perspective that we can help you ensure your success by giving you the tools necessary to accurately assess your business and identify, in order to correct, your weaknesses.
It's all about perspective; you can't fix what you can't see...