We provide financial reporting on all three levels of assurance:
- AUDIT – an intensive examination with the highest level of assurance.
- REVIEW – some analytical procedures conducted with limited assurance.
- COMPILATION – based upon client information provided and used primarily for internal use.
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. Audits differ from reviews and compilations, as they are an intensive examination of your company’s systems and records providing the highest level of assurance.
Ultimately, a review provides a level of assurance between an audit and a compilation. A review includes applying analytical procedures to the financial statements, making inquiries of and obtaining representation from management in order to express an opinion of limited assurance.
Financial Statement Compilations
Compilations differ from reviews and audits as they are based upon client information provided and used primarily for internal use only as no assurance is expressed.
We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management in making financial decisions.
Bookkeeping / Write-Up
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.
Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company’s financial goals.
Cash Flow & Budgeting Analysis
A business can be profitable and still run into trouble due to cash flow issues. We can quantify and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses.
Lotito & Lazzara provides a broad range of services to help our clients reach their business and personal financial goals. View some more of these services we provide.