AUDITING AND ATTESTATION SERVICES

MK's philosophy is that the audit and attestation process should be about more than providing assurance on financial statements. We believe that this is a great opportunity to provide value added services such as assisting clients in building self reliance on their financial reporting system and finance staff, including their internal control structure.

> AUDITING

MK’s audit approach is one that not only focuses on the fair presentation of the Organization’s financial statement, but provides constructive feedback to your organization so that the organization itself can improve its financial reporting process, strengthen its internal control procedures, and thrive operationally in its industry.

We recognize that each client’s needs are different, each has unique operating and control environments, and each industry served has different operating goals and objectives.

MK provides its staff with intense continuing education and training in the audit arena.  There have been many changes to the way audits are performed in this post Enron era.  Our firm is up to date with those requirements and the ever changing audit approach.  One of the biggest changes is the expectation now placed on the client to provide a substantially complete set of adjusted books to the auditor for testing, versus the pre Enron approach where in many instances the auditor provided bookkeeping services (adjusted your books) to you in order to assist the entity in getting a complete set of books, and then audited those numbers.

MK’s experienced staff understands the challenges the new auditing standards and approach not only places on the audit firm, but on the client’s management and finance staff.  We are here to assist you during the year with the financial reporting process so the end of year audit process goes smoothly.

> REVIEW

Although less in scope than an audit, a review of your financial statement is a cost effective, acceptable way to provide some assurance to the user (creditors, lenders, regulatory agencies, grantors) of your financial statements that they are in accordance with Generally Accepted Accounting Principles (GAAP).  We use analytical procedures and inquiries to review your financial statement numbers, versus the more in depth verification process that makes an audit much more costly.

> COMPILATION

Compilations are the lowest level of assurance that is provided to financial statement users.  Although the assurance is at a lower level than an audit or review, the compilation is the most widely accepted to satisfy the needs of management, business owners, lenders, and other users of your entities financial statements.

> AGREED UPON PROCEDURES

When you need answers to specific financial or business process questions, or have specific risks associated with a business practice area that warrants further review, assurance can be provided through an agreed-upon procedures engagement.  Through planning meetings you advise us of what it is that you want to know or have examined.  Procedures are then developed and performed with the results provided to you.  If this service fits your needs, it is both effective and efficient.

> OTHER ATTESTATION SERVICES

Other attestation services provided by MK are due diligence (providing assurance to certain business transactions before making the decision to enter into them), compliance with contracts, and review of any other assertions made by your entity or to your entity by another party in the course of doing business.

Also see similarly related services for Fraud Investigation and Internal Control Design and Reporting under Litigation Support Services.

ACCOUNTING SERVICES

MK is dedicated to helping our clients improve the quality of their financial reporting.  We believe that the more informed the client is about their financial reporting process, the better the information provided to management and owners will be.  We want client’s to have good information to make good business decisions all year round, not just once a year (after the fact) when the client has tax services provided.  Our engagement partners meet with clients regularly throughout the year to ensure the client is on track with not only its financial reporting, but with achieving its goals and targets.

Common accounting services provided are:

We provide local, personal, experienced accounting services for your financial questions.  We hire talented people and invest heavily in training and technology to ensure our staff has the proper tools to provide these services.  Our staff provides auditing, attestation, and accounting services in a variety of methods, each tailored to the client’s needs and experience level.

MK provides auditing, attestation, and accounting services in a variety of industries including:

For more information on the service that is appropriate for your entities needs, please contact Justin K. Kiddy, CPA, CFE at 843.881.4477 or via email at justin@mkaacpa.com.