The foundation of our practice is the preparation, presentation and analysis of client financial statements, as well as attesting to financial statements prepared by the client. We specialize in these industries:
Explore the Different Levels of Assurance
We offer various levels of assurance based on our client’s requirements. From compiling financial statements to full audits, our team can support your level of assurance.
Providing the highest level of assurance, an audit is a methodical review and objective examination of the financial statements. It includes the verification of specific information as determined by the auditor or as established by general practice.
Less extensive than an audit, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company’s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.
In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations offer the lowest level of assurance, and don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Examination engagements is when a CPA is engaged to provide an opinion about the conformity of the subject matter with certain criteria. It requires the CPA to reduce the risk of undetected material misstatement to a low level. An examination is analogous to an audit of historical financial statements as it provides the same level of assurance as an audit and involves substantial evidence gathering.
Agreed-upon procedures engagements generally arise when clients need the CPA involvement, but do not want a standard compilation, review, examination, or audit service because those services are not as targeted to what is needed. An agreed-upon procedures engagement is one in which a CPA is engaged to perform specified procedures and report findings. An example is if a Company needs their expenses tested for a grant reimbursement.
Financial Statement Audit and Assurance Services
Our approach encompasses the following features and more:
Our assurance process is based on your level of need. From full audits to reviews and compilations, we have your financial statement preparation and analysis needs covered.
As a Bowers & Company client, you always have access to our Partners and Senior-level engagement teams
Access your files and stay up to date on industry specific information with our secure client portal.
We develop a big picture look at your financial wellness using our full-service, industry-specific software programs.
Tax training specifically geared for field audit staff to recognize tax savings opportunities (e.g., research & development, ETI, LIFO)
Carl Austin, CPA
Carl has directed the growth of the Firm’s Assurance Services into one of the strongest in Upstate New York. During this time, Carl’s experience in a wide variety of industries has been a key to the growth of the Firm including: manufacturing, leasing, Short Line Railroads, distribution, professional services industries and management consulting services.
“Bowers & Company is a diverse team of professionals with the experience to guide our business from a small closely-held operation to a regional operation of an international conglomerate. We hold each member of its staff in high regard because of their professionalism, knowledge and genuine interest in our company’s success. They are always in our corner.”
– Ed Cronk, President/COO – Nagle Athletic Surfaces, Inc.
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