Audits, Reviews & Compilations

Johnson Mattson Peterson + Co. can perform audits, reviews and compilations to provide your business the proper financial reporting to make more informed decisions.  Our services are designed to add credibility, provide clarity and enhance the reliability of your financial statements.

Audit Services

The audit engagement provides the highest level of assurance four our client's financial statements. Our experience in audits provide a detailed review and offer the following important auditing procedures are:

• Consideration & evaluation of the internal control system of the company
• Testing the effectiveness of the system
• Tests of the underlying documentation to support account balances
• Observation of the physical inventory counts (if any)
• Confirmation of account receivable balances

The audit services from our firm reflect the highest level of assurance based on the extensive procedures performed.

Review Services

Our review engagement provides all of the procedures necessary for a compilation engagement, plus other procedures to provide limited assurance on the financial statements. The review process analyzes the accounting practices and principles used by the organization; the procedures for recording and accumulating financial information; and the actions taken at meetings of the organization's stockholders or board of directors.

Our Review Services Include:

• Comparison of current and prior period financial statements, budgets or forecasts
• Study of the financial statements to identify items or relationships
• Review and consideration of adjustments made to the financial statements of prior periods

The purpose of analytical review procedures is to identify account balances or relationships that appear unusual so that additional inquiries can be made to determine the cause of the unexpected patterns. Based on these inquiries, any necessary adjustments to the financial statements may be made.

Compilation Services

A compilation is the most basic level of service we can provide for a client's financial statements. A compilation engagement requires less time than a review or audit engagement because fewer procedures are required.

As a basline,  compilation allows us to possess an adequate level of knowledge about the accounting principles and practices of your industry and have a general understanding about the nature of the client's business. Our compilation procedures allow us to compile your financial statements and consider whether they are in appropriate form and free from obvious material errors.