Raggi and Lisowski Accounting Services
At Raggi and Lisowski, we provide a variety of accounting services to our clients. Our Certified Public Accountants (CPAs) have extensive experience in both public and private accounting, which enables us to provide value to our clients across multiple industries. By handling your accounting needs, we allow you to focus on efficiently operating and growing your business.
Accounting and Financial Statement Services
Compilations
A compilation is the most basic form of accounting service that we offer, in which we provide a business with a simple examination of its financial data. In a compilation, our team of certified accountants compile your business’ financial data to assist with the structuring and presentation of that data in the form of standard financial statements. Additionally, we inspect your financial information to check that the statements are free from obvious material errors such as arithmetic mistakes. We ensure that all financial compilations are conducted in accordance with the Statements on Standards for Accounting and Review Services (SSARSs) issued by the American Institute of Certified Public Accountants (AICPA).
Reviews
In addition to compilations, we provide financial statement reviews which include the same series of steps involved in a compilation, along with additional analytical procedures and inquiries. The extra procedures and inquiries are performed to provide limited assurance that your financial statements conform to the applicable financial reporting framework for your specific business and industry.
The objective of a review is to provide limited assurance that, according to the accountant’s knowledge, your financial statements are not misstated and that there are no material modifications that need to be made to your financial statements in order for those statements to conform to the appropriate financial reporting requirements.
Reviews are often required by outside third parties such as banks and creditors, to baseline level of assurance regarding the representation of a business’ financial statements.
- Banks
- Creditors
- Potential Purchasers
- Potential Suppliers
Audits
An audit is the most comprehensive service that we provide with regard to financial statement examinations. An audit is a systematic review and investigation of a businesses policies, procedures and systems used to record and present financial data. Under Generally Accepted Auditing Standards (GAAS), our auditor will obtain a sufficient understanding of your business’ internal control and also assess fraud risk through examination, inquiry and other analytical procedures.
Outside third parties such as banks, creditors and investors often require audited financial statements to obtain a higher level of assurance about the accuracy of a business’ financial standing.