AUDIT SERVICES

Preparing You For A Better Outcome

Deane Lyte CPA is the auditor and consulting service for companies and many agencies funded by governmental and private grantors. Our audits involve OMB Uniform Guidance. Our audits of agencies funded by governmental and private grantors are geared to highlight the operational efficiency of the accounting and information gathering processes. 

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Your stakeholders, creditors or private investors have different levels of risk appetite, so we provide three levels of assurance to help you achieve your financial success. Whether your business or organization requires an Audit, Review or Compilation – our experienced team is here to help ensure that the company’s financial statements accurately represent the true financial position of the Company.

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COMPILATION

The first level of audit service is a compilation. These financials are produced for management’s use only. These financial statements are prepared based on the numbers provided by the client. This first level of service does not provide any assurance regarding the validity of the amount in the financial statement. 

REVIEW

The next level of engagement is a financial statement review. A review is more involved than a compilation, but not as comprehensive as an audit.  We conduct inquiries with key personnel to understand the company’s policies and procedures and perform analytic procedures. A review report is issued providing limited assurance on the financial statement.

AUDIT

A financial statement audit is the highest level of service. Our engagement involves working closely with management to gain knowledge of internal control systems. Verification and substantiation procedures are performed in accordance with GAAS to obtain reasonable assurance on the financial statement.

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