Partnership & MBE/WBE Certification
Whether you need another partner or a qualified and certified minority, (MBE) and women business enterprise (WBE) to assist your client, Pilar Financial Practice Management LLC (PFPM) can assist you.
As bondholders, the Internal Revenue Service (IRS), creditors, investors or even grantors need solid assurance that the Financial Statements reflect accurately a true picture of the organization, PFPM can partner with you to provide such services.
Bondholders, creditors, investors and grantors have varying levels of risk tolerance. PFPM can provide three levels of assurance that meet your needs.
Audit – Highest Assurance
This service provides the highest level of assurance. This includes a formal examination of an organization’s accounts or financial situation and the issuance of a report. PFPM would evaluate internal controls, test selected transactions and communicate with the necessary third parties such as customers, banks, vendors and attorneys. We can document and test each major process including expenses, cash disbursements, payroll and receivables.
Review – Limited Assurance
Less extensive than an audit, a review consist of analytical procedures applied to an organization’s financial statements and inquiry of management. Providing limited assurance but all of the required footnotes and other disclosures, we can provide the expertise without the cost of an audit.
Compilation – Lowest Level of Assurance
A compiled financial report includes every financial aspect of any given business. This report is also known as an annual report and is written either once a year, twice a year or on a quarterly basis. It is used to present the standing of the company in terms of its finances. The report is not reviewed or audited and the report does not make any assurances or offer opinions to the business. Banks often require compilations as part of their lending covenants.
General Accounting or Consulting Services
PFPM can also provide the following services as a team partner to service your clients:
- Preparation of Financial Statements
- Reconciliation of Accounts
- Preparation of Audit Schedules
- Financial Statement Analysis
- Preparation of the Comprehensive Annual Financial Report (CAFR)
- Preparation of the Single Audit Report