Audit, Review & Compilation Services
Morrison & Morrison commitment to providing accurate, reliable, and meaningful financial reports is grounded in its long-standing commitment to the individual needs of each of its clients and its deep understanding of the industries in which they transact business. We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing our clients' profitability and efficiency. We provide financial reporting on all three levels of assurance to meet each client's specific needs:
- Audit. An audit involves an intensive examination of financial records with the highest level of assurance, and are often required to communicate with clients' banks, investors/shareholders and other financial partners. Morrison & Morrison's customized approach to the auditing process is based on a deep and thorough understanding of each client's business and industry. The firm adheres to generally accepted accounting principles (GAAP) and generally accepted auditing standards (GAAS), as well as our own rigorous internal guidelines regarding preparation methods, data-handling and delivery. Our strict quality standards result in our consistent delivery of final financial reports that fairly, fully and independently assesses each client's financial statements.
- Review. Where an audit may be unnecessary, Morrison & Morrison is able to review its clients' financial statements with limited assurance. Although not as in-depth as an audit, reviews allow our clients to satisfy regulatory or other requirements, and are generally regarded as the minimum level of assurance required by banks for debt agreements.
- Compilation. Where neither an audit nor a review is necessary, Morrison & Morrison can compile management-only financial statements provided and used primarily for internal use.