A Lender, an Investor, or a Grant Committee Asked for Proof
Someone asked for verified financials. That is the moment most businesses find out their records were never built for it.
In Everett, it happens more than most markets expect. Paine Field supply contracts carry third-party verification obligations. Federal funding through Snohomish County programs regularly triggers a Single Audit threshold nobody planned for.
Maris & Associates CPAs works with those businesses. And with companies across the region that need certified financial statements for a lender, an investor, or a board. Compilation, financial statement review, or full audit. We handle the full range.
The Right Level Depends on Who Is Asking
The wrong level costs time. Too little assurance and the requesting party rejects the report. Too much and you have paid for an engagement the situation never required. Three types exist for a reason.
When You Need the Format, Not the Verification
A compilation organizes your data into standard financial statements without verifying the numbers. It is appropriate when the requesting party has not specified a higher assurance level or when the purpose is internal management reporting.
When a Report Needs to Be Issued
A financial statement review adds personnel interviews and produces a review report with limited assurance. Most creditors and private investors who need more than a spreadsheet will accept one.
When the Examination Has to Be Complete
Audit services are the highest level.
- Internal controls tested
- Balances verified
- Third-party confirmations obtained
The output is an opinion letter, audited financial statements, and a management letter, all under GAAS.
Not sure which one applies? Worth clarifying before anything is signed.
Incomplete Records Create Problems Before the Work Even Starts
A review or audit requires documents most businesses have not assembled in one place: trial balances, general ledgers, full-year bank statements, payroll filings, and AR and AP reports.
If those records are incomplete or unreconciled when the engagement begins, the process slows significantly.
An auditor cannot reconstruct financial records inside the audit engagement. That is a separate step, and it has to happen first. Businesses that discover this mid-process lose time they usually did not have.
Maris handles that situation directly. Audit preparation services are a separate engagement. If the records need to be brought into order first, we handle that before the audit team begins. No interruption to the main process.
What a CPA Firm Provides That Other Advisors Cannot
Not every accounting firm is licensed to perform every type of CPA audit. GAAS, Yellow Book, and Single Audit engagements require specific credentials. A general bookkeeper cannot issue the opinion a lender or grant agency will accept.
The audit reveals what the numbers say. The tax picture determines what they cost. Most firms handle one or the other.
When the same firm runs both, those two conversations happen together. That is where most engagements leave real money behind.
The Delay Costs More Than the Engagement Does
Most clients who contact us are not starting from a clean position. The deadline arrived before the records were ready. Normal starting point.
Once the engagement begins, the picture clears. Most clients say getting there took less than they had built up in their heads.
Reach out to Maris & Associates CPAs. We will review your situation, identify which service level applies, and tell you what needs to be in place before the work begins.