Confidence in the information
that matters.
Lenders, investors, boards and agencies request financial statements with different reporting requirements. Understanding those requirements helps identify the appropriate engagement.
Audit, review and compilation engagements are performed and reported by Gabriel J. Viera Pina, CPA, under his individual license, with support from VPL Business Advisors’ professional staff.
Different engagements. Different purposes.
| Engagement | What it provides |
|---|---|
| Audit | Reasonable—but not absolute—assurance about whether financial statements are free from material misstatement, with an opinion expressed in the auditor’s report. |
| Review | Limited assurance, based primarily on inquiries and analytical procedures, with additional procedures when circumstances require. |
| Compilation | Assistance in presenting financial information as financial statements. No assurance, audit opinion or review conclusion is provided. |
| Agreed-Upon Procedures | Specified procedures are performed and findings reported. No opinion or conclusion is expressed. Provider and scope are identified in the engagement terms. |
An audit does not certify financial statements, guarantee their accuracy or detect every error or fraud.
Which one do you actually need?
The requirement often comes from a loan agreement, an investor, a franchise agreement or a regulator. We can help you understand what is being requested before you select an engagement.
Professional independence
Advisory, accounting and other nonattest services for attest clients remain subject to applicable independence and professional requirements. Scope and availability depend on the engagement.