Business Audits in New York, NY
If your company has any private investors, stockholders, or creditors funding your business, then you will need to give them assurance that any financial statements they receive accurately demonstrate your company’s financial position. Melzer & Associates, CPAs, PC can help businesses throughout New York City, including those in Manhattan and Long Island, provide that assurance with our audit services.
What Does an Audit Involve?
An audit is the highest level of assurance possible, above a review and compilations. During an audit, our Manhattan CPAs examine your business methodically, determining whether objectives outlined in your financial statements are being met and verifying particularly important information in relation to the statement. Audits are not limited to looking only at the business, as compilations and reviews are. Rather, they involve examining information from outside the business as well, including communication with banks and vendors, to more accurately judge your business’ financial position. Internal controls and selected transactions are then reviewed and tested. We lastly release a report describing the accuracy of the financial reports reviewed, as determined by our findings.
A reliable audit enables you to prove to suppliers, employees, and other stakeholders in your company that your financial reporting is credible. It also helps ensure that all obligatory business taxes are paid on time. Banking covenants, material fraud prevention, and sale of the business are all facilitated by the audit as well. By assisting you in running an audit, our Manhattan CPAs can help you ensure your business thrives in all aspects.
One area of strong expertise for Melzer & Associates, CPAs, PC is auditing housing co-ops.
Every year, the banks that fund these real estate businesses require an audit for the loan on the building. In order to maintain the loan for the building’s construction, the banks that host the loan require a yearly audit for responsibility assurance, in addition to other management and tenant laws to which adherence must be verified. For these needs and more, our Manhattan CPAs can help your housing co-op maintain proper standing with New York’s real estate business regulations.
Contact Us Today
Businesses throughout New York City, including Manhattan and Long Island, that need audit assistance can be greatly helped by Melzer & Associates, CPAs, PC. To learn more, call our office today.