Assurance

External assurance services provide the peace of mind you need to make decisions with confidence. Whether you have an assurance requirement from a third party, searching for funding, or just want a second look from an independent professional, Travis D. Hudgins, CPA, PLLC is ready to provide the services you need.

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Levels of Assurance

Audits

An audit provides the highest level of assurance that your financial statements are free from material misstatement and conform with Generally Accepted Accounting Principles (GAAP). Audited financial statements are the only type of report to include an express opinion about whether the financial statements are fairly presented and conform with GAAP.

Reviews

Next are reviewed financial statements, which provide limited assurance that the statements are free from material misstatement and conform with GAAP. The accountant isn’t required to evaluate internal controls, verify information with a third party, or physically inspect assets.

Compilation

Compilations rely on data provided by management. They provide no assurance that financial statements are free from material misstatement and conform with GAAP. Instead, the financial information that management creates is presented in GAAP financial statement format.

Third Party Requirement

Depending on what type of business you are in, some third party institutions will require you to submit financial information that has been audited or reviewed. This could be a vendor, a customer, a law, or the federal or state government. Whether you are applying for a grant, seeking financing, or bidding on a contract, Travis D. Hudgins, CPA, PLLC is ready to provide the services you need.

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