Independent assurance. Greater confidence in your financial information.
Reliable financial information is essential to sound decision-making and organizational accountability. David K. Caruthers, CPA provides independent assurance and financial reporting services designed to help organizations meet the needs of boards, management, grantors, funding agencies, lenders and other stakeholders.
With extensive experience working with nonprofit, community-serving and grant-funded organizations, David brings an understanding of both the financial reporting requirements and the operational environments in which these organizations work.
Financial Statement Audits
An audit provides the highest level of assurance on an organization's financial statements. Audit procedures may include examination and testing of financial records and transactions, confirmation of selected information with third parties, consideration of internal controls, and other procedures necessary to obtain reasonable assurance that the financial statements are free of material misstatement.
At the conclusion of the engagement, the CPA expresses an independent opinion on whether the financial statements are fairly presented, in all material respects, in accordance with the applicable financial reporting framework. AICPA & CIMA
Financial Statement Reviews
A review provides limited assurance on financial statements and involves substantially fewer procedures than an audit.
Review procedures consist primarily of analytical procedures and inquiries of management. A review may be appropriate when an organization needs independent CPA financial statements but an audit is not required by a lender, funding source, governing body or other stakeholder. National Council of Nonprofits
Compilations
A compilation assists management in presenting financial information in the form of financial statements. Unlike an audit or review, a compilation does not provide assurance on the financial statements.
Compilation services can be appropriate for organizations and businesses that need professionally prepared financial statements for management, board, lender or other purposes but do not require an audit or review. National Council of Nonprofits
Agreed-Upon Procedures
Sometimes an organization does not need a full financial statement audit but needs an independent CPA to examine a specific area, account, transaction, program or compliance requirement.
In an agreed-upon procedures engagement, the CPA performs specifically defined procedures and reports the resulting findings. No opinion or assurance conclusion is expressed. These engagements can be particularly useful when a board, grantor, funding organization or other party needs independent information concerning a particular financial matter. Sawyer Assurance
Specialized Assurance for Nonprofit & Community Organizations
Nonprofit and community-serving organizations often have financial reporting responsibilities extending beyond traditional business operations. Grant agreements, funding requirements, board oversight and stewardship of public or contributed resources can create additional accountability and reporting needs.
David's experience with nonprofit organizations, workforce development, grant-funded programs and community-focused organizations provides practical insight into these environments and the financial responsibilities that accompany them.
Not Sure Which Level of Service You Need?
The appropriate engagement may depend on your organization's reporting requirements, funding agreements, lender requirements and the needs of your board or other stakeholders.
Schedule a consultation to discuss your organization's assurance and financial reporting needs.
