Audit Services
A comprehensive audit provides the highest degree of confidence, credibility, and assurance regarding the financial status of a business. As businesses continue to navigate through a complex and highly regulated environment in today’s marketplace, Gerson Preston’s Audit Services aid clients by producing individually tailored, cost-effective reports they can use to make informed business decisions, to obtain capital, and to satisfy contractual and regulatory requirements. Additionally, we provide meaningful recommendations for improvement of operations and strengthening internal controls.
Risk-based and tailored to the needs of clients including privately-held companies and small businesses, Gerson Preston’s Audit Services include:
- Financial Statement Audits ensuring that the amounts presented in the financial statements are presented fairly, are adequately disclosed, and are consistent with generally accepted accounting principles.
- Preparation of financial statements and applicable footnotes.
- Issuance of management letter recommendations.
- Internal Auditing Services that help companies monitor organizational and business risks. Gerson Preston aids clients by providing value-added oversight services that establish internal control, detect fraud, build operational efficiencies, enhance process quality, and comply with regulatory requirements.
U.S. GAAP & IFRS
At the forefront of the current accounting environment is the issue of convergence of accounting rules and standards between the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). The result is various technical accounting changes between U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Gerson Preston has proven expertise and experience to help our clients implement these changes by providing technical accounting support throughout the conversion process. As IFRS filing requirements can be a challenging endeavor, our professionals will work to make it a seamless transition.