November 26, 2012. San Francisco, CA. Safe Harbor LLP, a top San Francisco CPA firm for Due Diligence & Audited Financials, along with G&J Seiberlich, a leading Napa, California, CPA firm, have announced enhanced services aimed at the due diligence and audited financial needs of businesses involved in mergers and acquisitions. Audited financials are generally required in any complex business merger or acquisition, and the firms are working together to make the process of obtaining audited financials easier than ever.“Audited financials can be a cumbersome part of any merger or acquisition,” explained Chun Wong, CPA, managing partner at Safe Harbor LLP. “Even small or medium sized businesses may need audited financials and other due diligence accounting support to engage in a merger or acquisition. Our growing relationship with G&J Seiberlich is one way we are making business accounting services easier than ever for San Francisco Bay Area businesses.”
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Due Diligence and Audited Financial Support – the Process
The objective of an audit engagement is to express an opinion about whether the financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States of America. As such, an audit will be made in accordance with U.S. generally accepted auditing standards and will include tests of the accounting records of the client and other procedures we consider necessary to enable the CPA firm to express an unqualified opinion that the financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles.
The procedures will include tests of documentary evidence that support the transactions recorded in the accounts, tests of the physical existence of inventories, and direct confirmation of cash, investments, and certain other assets and liabilities by correspondence with creditors and financial institutions. The CPA firm will request written representations from the client’s attorneys as part of the engagement, and they may bill the client for responding to that inquiry. At the conclusion of the audit, the CPA firm will also request certain written representations from management about the financial statements and related matters.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, any audit will involve judgment about the number of transactions to be examined and the areas to be tested. The audit is designed to provide reasonable assurance of detecting misstatements that, in the judgment of the CPA firm, could have a material effect on the financial statements, whether from errors, fraudulent financial reporting, misappropriation of assets, or violations of laws or governmental regulations that are attributable to the company or to acts by management or employees acting on behalf of the company.
For more detailed information on how an audit engagement works, the reader is directed towards contacting one of the CPA firms listed below. Each client situation is unique and the best method is to discuss, in advance, the exact situation with a trained CPA professional.
About Safe Harbor LLP – a Professional CPA Firm in San Francisco
Safe Harbor LLP is a CPA firm that 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