Banks, stockholders, creditors and private investors often need assurance that your financial statements accurately represent your true financial position. It’s just good business. Audited financial statements provide the highest level of assurance. If your company is publicly held, the Securities and Exchange Commission requires you to file annual reports that have to be audited.
As an independent auditor, Miller & Company provides the information you need to improve your business. Miller & Company LLP, NY Certified Public Accountants, a top rated NYC CPA firm.
Best rated NYC CPA firm Miller & Company serves as an independent auditor to examine your compiled financial statements — and the disclosures that go with it — to prepare a financial statement audit for your company. An audit involves a methodical review and objective examination of your finances, including a review of your internal controls, tests of selected transactions and inquiries to other parties.
As an experienced auditor in the Manhattan and New York City metropolitan area, Miller & Company has to attest to the validity of your audited financial statements and other disclosures. The resulting financial statement audit reports on whether your financial statements are fairly stated and free of material misstatements. Without this report, your reviewed financial statements lose their credibility.
Financial statement audits verify your reported performance and financial position. They also corroborate your own findings to ensure that you’re on track to maintain your continued highest profitability. Hiring a CPA firm in NYC like Miller & Company can pay dividends by finding any problems or mistakes before they become unintended disasters. There are two main accounting frameworks that have made audited financial statements more common:
Miller & Company follows three primary stages for any financial audit:
Assessing your internal transactions can determine your company’s degree of effectiveness and control. Positive results mean the audit can go faster. If the potential for errors or misstatements are found, your auditor has to dig deeper to find the problem areas. This process, remember, only results in making your organization stronger.
For publicly-held companies, shareholders generally appoint the auditors. Public companies’ audited statements become part of their public record. Even some private companies choose to release their financial statement audits.
Audits can deliver many benefits beyond assuring investors, stockholders and lenders, however. One advantage of a rigorous audit is that it provides insight into your firm’s management, highlighting areas that may improve the company’s processes or controls. Your top accountant in New York, Miller & Company auditor must communicate any negative aspects of their audit, like control deficiencies, to you. These reports enhance processes within the business, adding value to your company and aiding in your strategic planning processes.
Nonprofit or tax-exempt organizations must file Form 990 with the IRS. Private foundations file Form 990-PF (Private Foundation). While financial statement audits are required for all publicly held companies, other businesses and entities can benefit from a financial statement audit. Nonprofits in particular receive the following nonprofit audited financial statements:
Hiring an auditor is a business decision, but cost isn’t the only factor. Find an auditor with experience and integrity — someone like the auditing professionals at Miller & Company who sees the big picture. There are three layers of financial statement examinations:
Compilations are the least expensive option, and audits cost the most, but as is so often the case in the business world, you get what you pay for. Auditors have to adhere to stricter standards of the Public Company Accounting Oversight Board (PCAOB), and these standards take longer and are more expensive to complete. If you’re not sure what you need, talk to Miller & Company for straight talk about your financial statement review.
Do you have questions about services we offer including Audited Financial Statements in NYC and Long Island? Would you like to receive a personal Audited Financial Statements consultation customized to your specific needs? To schedule an appointment with a nationally recognized, top accountant in New York, Paul Miller of Miller & Company LLP firm, please contact our Long Island or NYC tax accountants for a FREE CPA consultation.
|Queens CPA Firm
Miller & Company LLP
Paul Miller, CPA (Queens Certified Public Accountants)
141-07 20th Ave, Suite 101
Whitestone, NY 11357
☎ (718) 767-0737
|Manhattan CPA Firm
Miller & Company LLP
Paul Miller, CPA (NYC Certified Public Accountants)
274 Madison Avenue, Suite 402
New York, NY 10016
☎ (646) 865-1444