An Audit is the highest level of assurance provided by a CPA. Audits are performed in accordance with generally accepted auditing standards, and the resulting Auditors' report expresses an opinion that the financial statements present fairly the entity's financial position and results of operations. In order for a CPA to provide such a report, various procedures to verify the accuracy of the entity's financial records and reports must be completed.
Webb & Company is acutely aware of the burden an audit can place on the time and resources of the reporting entity. As a result, our team of audit professionals is highly experienced and strives to complete our engagements in a timely and efficient manner while maintaining our independence.

A Review is substantially less in scope than an audit and only provides limited assurance that the CPA did not become aware of any material modifications that would be necessary for the entity's financial statements to be in conformity with Generally Accepted Accounting Principles (GAAP). Since this type of service is substantially less in scope than and Audit, it generally requires less time and resources to complete.

A Compilation is the most basic level of service provided by a CPA and provides no assurance as to the accuracy of the financial statements or their conformity with Generally Accepted Accounting Principles. Compilations are usually adequate for some smaller privately held entities that do not require a Review or an Audit and are not planning to seek public funding through the sale of securities.

Prior to the sale or acquisition of an existing business or entity and even sometimes for larger transactions with multiple scenarios, it is wise to engage a CPA. Webb & Company can provide guidance during all phases of M&A transactions and help you navigate the process effectively and efficiently.

Many times the exact nature of services needed doesn't fall within the standard assurance categories. When this occurs, an engagement can be outlined with a focus on the key areas important to the client. Prior to initiation of the engagement, required services are "agreed" on, which enables our focus to be placed on the critical issues.

Webb & Company has experience performing Audits, Reviews, Compilations, Due Diligence or Agreed Upon Procedures in the following industries: