Gordon, Stockman & Waugh P.C. is certified to perform independent assurance services for organizations. Gordon, Stockman & Waugh P.C. helps organizations manage their financial risk by providing the desired level of assurance engagement. These engagements can range from client prescribed procedures in an agreed upon procedures engagement to an audit of the financial statements taken as a whole as described by generally accepted auditing standards.
Audit services are the highest level of assurance that Gordon, Stockman & Waugh P.C. can give its clients and to third parties. The firm attests that the financial statements have been audited in accordance with Generally Accepted Auditing Standards (“GAAS”) and that the financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”).
Review services, although less assurance than provided by audit services, attest that Gordon, Stockman & Waugh P.C. has reviewed the financial statements in accordance with standards established by the American Institute of Certified Public Accountants (“AICPA”), and that no departures from GAAP were noted (negative assurance).
Audit and review services require the CPA to be independent.
Compilation services consist of preparing financial statements in accordance with standards established by the AICPA. The CPA gives no opinion (no assurance or attestation) as to the correctness of the financial statements. In addition, the CPA is not required to be independent to provide compilation service.
No matter what level of service is being offered, Gordon, Stockman & Waugh P.C. approaches each engagement as an opportunity to assist clients in their business processes.