Only when you know that financial information is accurate and reliable, can you have the confidence to make strategic business decisions. For more than nearly 30 years, Byrd, Smalley & Adams, P.C. has been committed to providing our clients with accurate and objective assurance services in a timely and efficient manner. Our associates have the experience and depth of knowledge to meet our clients’ needs and exceed their expectations.
Financial Statement Audits and Reviews
Financial statement audits provide the users of an entity’s financial statements reasonable assurance that those financial statements are free from material misstatement. An audit includes an examination of an entity’s financial reporting process and its financial statements, and the issuance of an opinion on the fairness of presentation of those financial statements in accordance with professional standards.
Financial statement reviews are not as comprehensive as a financial statement audit, and only provides limited assurance as to the absence of material misstatements of the financial statements. A review mostly consists of analytical analysis and management inquiries to obtain some assurance of the validity of the entity’s financial statements. A review may be an economical solution for an entity that doesn’t need the full assurances of an audit.
These procedures are tailored to meet the needs of your organization, offering only requested procedures and reports. Our services give credibility to specified areas of the organization’s financial or non-financial data.
Forecasts, Projections and Budgets
We have the expertise to make financial projections, including discussions with management regarding factors driving performance, formulation of assumptions, and creation of projected financial statements.
Internal Control Examinations
Examination of your internal controls consists of review and testing of existing controls to determine whether controls are working properly. We can also provide assistance with the design of new control systems where we see gaps in the current control structure or when controls that are already in place are not working effectively.
Employee Benefit Plan Audits
Administrators and sponsors of these types of plans face a wide array of regulations and compliance challenges. These complex regulations can lead to penalties for irregularities, regardless of error or omission. The professionals at Byrd, Smalley & Adams, P.C. have developed an in-depth understanding of the complexities surrounding employee benefit plans. Through our broad range of experience and knowledge of plan standards and regulations, we will provide you with an efficient and thorough audit.