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Financial Statements FCT is a member of the Public Company Accounting Oversight Board (PCAOB) which requires annual quality control evaluations. All of our evaluations (available to the public) have resulted in the issuance of Unqualified Reports (equal to an “A”). Our audit team provides a full spectrum of audit and advisory services to assist in meeting compliance, operational efficiency and business performance goals. An audit provides the highest level of assurance and is an analyzation and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. All public companies are required to have an annual audit, but some nonpublic entities must undergo an annual audit as well. These include local governments, not-for-profit agencies and other organizations receiving government grants. Also, companies with absentee ownership (such as those owned by investment firms, or individuals who no longer run the business) may request audits as checks of their management teams. A review engagement consists primarily of analytical procedures applied to the financial statements, and various inquiries we make of your company’s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures. In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
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Friedman, Cohen, Taubman and Company, CPAs
South Florida Ceritifed Public Accounting Firm
Services
