Financial Statement Prep, Compilation, Review, Or Audit: Which Is Right for Your Organization?

Our nonprofit and government clients will sometimes come to us asking for an audit because their bylaws require one, or their board decided they needed one.

But an audit isn’t always the best option for their actual needs. For example, they often want to make sure there’s no fraud occurring in their organization or just want to understand their organization’s financial situation better. But audits rarely actually catch fraud. And there are several different services that can help an organization understand its finances, and those services usually cost a little less.

To help you understand all the services available for understanding your organization’s finances, we created this free eBook.

As you read through this document, you’ll learn the differences between financial statement preparation, compilations, reviews, and audits.

Although it’s possible to prep your financial statements in house, you might prefer the help of a professional. That way, you can be sure your financials are done according to the accounting framework that’s right for your company.

If you’re not sure what kind of service your organization needs, please don’t hesitate to ask us. We’ll help you find the right tool so you can meet your goals and understand your organization’s financials. And if you have other audit or accounting questions, you're in luck: We've got a guide for that too.