Audits and Reviews

Need an audit or a review? We can help!

Moss CPA has extensive experience providing audit and review services to the nonprofit community. We even perform financial statement compilations.

Getting audited doesn’t have to be a painful experience! In fact, our goal is to make every audit we engage in as smooth and straightforward as possible. Keep reading to learn more about our approach to auditing and other attest services.


 Audit

An audit provides the highest level of assurance. It is a methodical review and an objective examination of your financial statements, including a verification of specific information as determined by the auditor or as established by general practice. Our work includes a review of internal controls, tests of selected transactions, and communication with third parties, which could include grantors, financial institutions, legal counsel, and others. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.

Our audit approach is collaborative and hands on. We expect to speak with management and appropriate Board members at the start and end of field work. We also speak with the Board or Board committees after the audit work is completed. Additionally, we communicate any findings as we proceed with the audit so that there are no surprises in our audit reports.

Our clients are pleasantly surprised by the audit experience we provide. We use our software expertise and familiarity with cloud accounting and file sharing to significantly reduce the amount of time you spend preparing for the audit.

Audits are required by the State of California for nonprofits with annual gross revenues over $2,000,000; however, states have different thresholds for audit requirements, so be sure to research the requirements of every state in which your organization operates. Audits may also be required by grant-making organizations or Boards of Directors for assurance purposes.

 Review

review is less extensive than an audit but more involved than a compilation. 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.

A review doesn’t include evaluation of internal controls, verification of data with third parties, or physical inspection of assets. Rather, a review report expresses limited assurance in the form of the statement “We are not aware of any material modifications” for the financial statements to be in conformity with Generally Accepted Accounting Principles. Reviewed financial statements include all required footnotes and other disclosures.

Reviews may be required by your Board or your funders.

 Compilation

Unlike an audit or a review, a compilation does not provide assurance. In compiling financial statements for a client, we present information that is the “representation of management” and express no opinion or assurance on the statements. Compilations 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 to determine whether your financial statements are presented appropriately and accurately. 

Compilations may be required by your bank, your Board, or your funders.


If you're not sure what you need, try out our handy decision tree below!


For more information about the attest services we offer or to submit a request for an audit proposal, contact us today!



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