Audit and Assurance Service Los Angeles, CA

Pelletier & Leo offers comprehensive audit and assurance services for companies and business owners throughout Los Angeles. Our CPA team works diligently to complete audits, reviews, and compilations in a thorough and efficient manner. We understand the standards companies need met for bank lenders, investors, partners, and their own internal decisions.

We work with a variety of businesses based in or with footprints in Los Angeles and California. Our audit and assurance team includes CPAs who are bilingual in English, Mandarin, Cantonese, and Taiwanese.

What Is Difference Between Audit, Review, Compilation?

• Audits – Independent examination and testing of your financial records, transactions, supporting information, and controls. Pelletier & Leo provides an opinion on your company’s financial statements prepared in accordance with GAAP (Generally Accepted Accounting Practices).
• Reviews – Less extensive review to provide a limited amount of assurance that your financial statements are free from material misstatements.
• Compilations – Financial statement preparation without assurance. Organizing financial information provided by the company into appropriate financial statements. Assurance is not offered for the accuracy or completeness of the information provided by the company.

When Does My Company Need an Audit, Review, or Compilation?

In many cases, the first time a Los Angeles company realizes they require an audit, review, or compilation completed by a CPA firm begins when attempting to obtain lending from a banking institution. The bank has certain requirements that must be met and it dictates whether you need an audit, review, or compilation.

Outside investment opportunities can also trigger the need for audit or assurance services for Los Angeles businesses. Investors want to have clarity and/or assurance that financial statements are accurate and follow proper procedures.

The sale of a company or business is another area when audit and assurance services might be needed. Having financial statements, which have been compiled, reviewed, or audited give potential buyers a better understanding of your business, as well a higher level of trust in the numbers.