Grzelak, Grzelak, & Associates, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
Audit and Assurance Services
Audit assurance services are a set of professional services provided by us to assess and verify the accuracy, completeness, and reliability of financial statements or other information. The goal of these services is to provide a level of confidence to stakeholders (such as investors, regulators, and management) that the information being reported is true and fair, and complies with relevant standards and regulations.
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Audit assurance services are essential for maintaining transparency, building trust with stakeholders, and ensuring the financial integrity of organizations.
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We provide comprehensive audit and assurance services for both profit and nonprofit organizations across various sectors, including manufacturing, retail, and service industries. Our expertise extends to, but is not limited to:
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Public Charities
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Local Unions
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Affordable housing Entities
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Homeowners Associations
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Clubs and other membership organizations
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MassDOT overhead rate audits
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Reviewed financial statements for mortgage brokers
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Yellow Book Audits
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Our team ensures thorough and accurate audits, tailored to meet the specific needs of your organization.
External Audits
These are independent assessments of a company’s financial statements conducted by external auditors. The auditors examine financial records, statements, and transactions to ensure that the company’s financial position and performance are accurately represented. The result is an audit opinion (e.g., unqualified, qualified, or adverse) on whether the financial statements provide a true and fair view.
Internal Audits
These are performed by auditors to assess a company’s internal controls, processes, and risk management systems. The goal is to improve efficiency, effectiveness, and compliance within the organization.
Compliance Audits
These audits verify whether an organization is complying with specific regulations, laws, or standards. For example, a company may undergo a compliance audit to check if it adheres to tax laws or industry-specific regulations.
Review Services
A review provides a lower level of assurance than an audit. It typically involves less extensive procedures and is often used to review financial statements for smaller businesses or specific financial information. The auditor expresses a limited assurance opinion, meaning they haven’t identified any material modifications, but they don’t offer the same comprehensive assurance as an audit.
Agrees-upon Procedures
These services involve an auditor performing specific procedures agreed upon with the client. The auditor then reports the findings based on those procedures. The assurance provided is limited to those specific tasks and does not extend beyond them.