Davis Farr performs Reviews in accordance with Statements on Standards for Accounting and Audit Services (SSARS), issued by the AICPA Accounting and Audit Services Committee (ARSC). A Review is designed to provide limited assurance and determine whether an entity’s financial statements “make sense.” This can be a cost-effective way to meet the requirements of third parties, such as lenders. Through the use inquiry and analytical procedures, we may express limited assurance that there are no material modifications that should be made on the financial statements. Whatever industry your business is in, our experienced team can help put you in a position of strength and sound financial reporting.
Davis Farr performs Compilations in accordance with Statements on Standards for Accounting and Audit Services (SSARS), issued by the AICPA Accounting and Audit Services Committee (ARSC). Compilation services involve assembling data from client records and presenting the information, consisting of management’s representations, in the form of financial statements, without expressing assurance. For some businesses, this level of reporting is sufficient to meet management needs, as well as the needs of certain third parties.