Financial Services
We offer tailored financial services to enhance your financial information's credibility. Our solutions range from audits to basic financial statement preparation.
Audit
An audit offers the highest level of assurance, involving an in-depth examination of financial records and statements to verify their accuracy and compliance with accounting standards.
Review
A review is less extensive than an audit and involves analytical procedures and inquiries to provide a moderate level of assurance about the financial statements.
Compilation
Compilation, the least intensive service, involves assembling financial data into statements without providing any assurance on their accuracy.
Preparation
Preparation services involve assembling financial statements based on information provided by management. This service does not provide any assurance on the accuracy of the financial statements.
1
Audit
Our audit services provide the highest level of assurance with a detailed examination of your financial records and statements. Our rigorous auditing process not only assesses the accuracy and compliance of your financial information with applicable standards but also identifies areas of improvement for your financial practices. This service is ideal for organizations seeking thorough validation of their financial records for stakeholders, regulatory bodies, or internal management purposes.
2
Review
Review services offer a more efficient, yet still effective, level of assurance compared to audits. Through analytical procedures and inquiries, we provide a moderate assurance that no material modifications need to be made to your financial statements. This service is suitable for businesses that require assurance beyond a compilation but not the full extent of an audit, typically for internal purposes or less stringent regulatory or lender requirements overall needed.
3
Compilation
Compilation services involve the preparation and presentation of financial statements without providing any assurance on their accuracy. Our role is to assemble your financial data into structured financial statements, making them more understandable and usable. This service is often chosen by small businesses or organizations that do not require audited or reviewed financial statements but need financial statements prepared by a professional for internal use or for fulfilling certain third-party requirements.
4
Preparation
Our preparation services offer a comprehensive approach to organizing and presenting your financial information. Our team of experts will work with you to ensure that your financials are accurate, compliant, and easy to understand. This service is ideal for organizations looking to streamline their financial reporting process and improve their overall financial management, enabling you to focus on your core business activities with confidence in the reliability of your financial records.
"Yes" We Are Peer Reviewed
In New York, all CPA firms are required to undergo a Mandatory Peer Review if they perform any attest services. This applies to all firms, regardless of size, and includes sole proprietorships. The peer review must occur within 18 months of providing the initial attest service and then every three years thereafter. This requirement ensures that firms adhere to professional standards in their attest services, which include audits, reviews, and other similar engagements. The peer review is an essential part of maintaining the quality and reliability of these services.
Faulisi & Company CPAs LLP
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Addresses
21 E Shore Rd
Manhasset, NY 11030
10124 99th Street
Ozone Park, NY 11416