A Full Service Experience

Etiendem CPA is a team of experienced accountants and advisors that help nonprofit organizations, entrepreneurs, businesses, and their owners make sound business and financial decisions. To be successful, we consider your business as a unique entity, enabling us to find strategies that work best on how you operate your business. Services include Governmental Audit, General purpose Audit, Review, Compilation, and Agreed-Upon Procedures. We also prepare and file federal and state tax returns and forms for nonprofit organizations, businesses, partnerships, and individuals. 

Governmental Audit

Financial Statement Audits are performed under Government Auditing Standards on entities such as states, local governments, not-for-profit organizations, institutions of higher education, and certain for-profit organizations.

Single Audits (compliance audits) performed under the Single Audit Act Amendments of 1996 and the Office of Management and Budget (OMB) Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance),

Program Specific Audits as defined under the Uniform Guidance, and other compliance audits and attestation engagements performed as required by federal, state, or local laws and regulations.

General purpose Audit, Review, Compilation, and Agreed-Upon Procedures

An Audit engagement is an independent examination of financial information of any entity, whether profit-oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, and evaluate the propositions in their auditing report.

 A review engagement is conducted to provide limited assurance that there are no material modifications that should be made to the financial statements for them to be in conformity with the financial reporting framework. A review differs significantly from an audit. Review engagements provide less assurance to the reader of the financial statements because the CPA does not perform many audit procedures. The broad review procedures required to be performed are inquiries and analytical procedures. The CPA is able to express only limited assurance that there are no material modifications that should be made to the financial statements for them to be in conformity with the applicable financial reporting framework. Because a review engagement is substantially less intensive in scope than an audit, the CPA cannot express an opinion on the fairness of the financial statements taken as a whole.

A Compilation engagement involves (1) gaining a general understanding of your business, accounting principles used, and financial reporting system and (2) presenting financial information in the accepted format of proper financial statements. The CPA expresses no assurance about the accuracy of the financial statements presented. The report attached to the financial statement emphasizes that the service is a compilation.

An Agreed-upon procedures engagement is a type of engagement in which the auditor performs certain procedures that are agreed upon in advance. In this engagement, the auditor and specified parties agree that the auditor will perform specific procedures and report on the findings. There are usually three parties involved in the engagement: the auditor, the client, and a third party. Unlike an audit, auditors do not give an opinion on the subject matters in the agreed-upon procedures. Auditors only report on findings based on the agreed procedures performed on the subject matter. In the agreed-upon procedures, auditors do not perform an examination, or a review like in an audit or a review engagement. Hence, the reporting is in the form of procedures and findings. Moreover, the use of the report in the agreed-upon procedures is strictly for the specified parties. It is not for the public or any related stakeholders that are not the specified parties of the agreement.