ACCOUNTING AND AUDITING SERVICES

• Accounting Services - Our full-time accounting services department provides one-on-one support for the small business or professional practice needing monthly or quarterly general ledger accounting, compiled financial statements, preparation of bank reconciliations, payroll processing, accounts payable processing, assistance with software installation, and payroll and sales tax reporting compliance. We have extensive experience in providing services for law firms and medical practices.

• Compilation Services - A compilation is useful to small, privately held companies that need help in preparing their financial statements for management, lenders and vendors. Compiling financial statements involves presenting in the form of financial statements information that is the representation of management (owners) without undertaking to express any assurance on the statements. Compilation standards permit the accountant to compile financial statements that omit footnote disclosures required by generally accepted accounting principles.

• Review Services - A review is useful to small, privately held companies that report their financial positions to third parties such as creditors and absentee owners. Reviewing financial statements involves performing inquiry and analytical procedures that provide the accountant with a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the statements in order for them to be in conformity with generally accepted accounting principles or, if applicable, with another comprehensive basis of accounting. A review is designed to see whether the financial statements "make sense" without applying detail testing of the underlying transactions. The objective of a review differs significantly from the objective of a compilation. While a review enables the accountant to express limited assurance, no expression of assurance is contemplated in a compilation.

• Audit Services - Significant borrowings, absentee owners, governmental regulations, bonding requirements, and franchise operations often require audited financial statements. Auditing financial statements involves conferring with outside parties, completing physical inspections and observations, and testing selected transactions by examining supporting documents. An audit provides the highest level of assurance that the financial statements present the entity's financial position and results of operation in accordance with generally accepted accounting principles. Although we perform audits for a variety of businesses, we have extensive experience auditing banks. Our Firm has audited numerous banks ranging in size of approximately $17 million to $497 million in total assets. These audits have included multi-level bank holding companies, including middle tier Delaware corporations. We also have extensive experience in performing audits in accordance with Government Auditing Standards and OMB Circular A-128 and Circular A-133 as well as audits in accordance with the HUD Consolidated Audit Guide.