September 29, 2012. San Francisco, CA. Safe Harbor CPAs, a leading San Francisco CPA firm for Audited Financials, is proud to announce an enhanced working relationship with G&J Seiberlich, a leading Napa CPA firm, on audited financial statements for Bay Area businesses. Many Bay Area businesses required audited financial statements for loan applications as well as regulatory compliance. This new effort makes obtaining audited financial statements easier than ever.
“Many Bay Area businesses work with state and local governments or apply for small business financing,” explained Chun Wong, CPA, managing partner at Safe Harbor. “Conditional to those applications are often audited financial statements. Our new effort with G&J Seiberlich brings together two top Bay Area CPA firms to help business clients comply with financial or regulatory requirements.”
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More on IRS Audit Financial Statement Services
Through their audit services area, the two CPA firms work with clients on multiple levels. These areas include:
- Audit: An intensive level of service that yields an opinion on all financial statements
- Reviews: The next level of service which provides limited assurance that no material modifications need to be made to financial statements
- Compilations: The lowest level of service that does not include an opinion or assurance of financial statements
- Agreed-Upon Procedures: This is provided when an audit, review or compilation is not necessary
Audited financial statements are often required because outside third parties (such as banks, creditors and outside investors) require an auditor’s opinion on financial statements. The objective of an audit is to express an opinion about whether the financial statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles (GAAP) or some other financial reporting framework. An audit is conducted in accordance with Generally Accepted Auditing Standards (GAAS) and includes tests of accounting records and other procedures considered necessary to express such an opinion. Reviews, compilations, and/or agreed-upon procedures are provided at a lower level of service. Depending on what an organization requires, Safe Harbor CPAs will work to identify the regulatory or financial requirements needed so as to minimize the cost and complexity of generating audited financial statements yet providing the information necessary.
About Safe Harbor CPAs – a Professional CPA Firm in San Francisco
Safe Harbor CPAs specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
Safe Harbor CPA
About G & J Seiberlich & Co LLP CPAs – a Professional CPA Firm in Napa, CA
G & J Seiberlich & Co LLP is the oldest full-service CPA firm in the North Bay and the first to specialize in many of the industries that make the region unique. Gordon Seiberlich came to the Napa Valley in 1949, determined to put his national accounting experience to work by establishing a full-service firm in a place that was scarcely more than a spot on a map.
G & J Seiberlich & Co LLP