How often have we heard the phrase, "What he doesn't know won't hurt him"? While this is sometimes convenient logic, it really isn't logical. In business, the more we know and the sooner we know it, the better off we are. Every business needs a periodic report on it's operations. Only Certified Public Accountants are licensed to issue reports on your financial statements.

Alexander & Company, P.S.C. is staffed to be able to provide you with accurate and timely information about your company to allow for knowledgeable management decisions. The information can be in one of three levels of assurance: an audit, a review or a compilation.

The word audit conjures dreadful fear in the minds of most people. An audit is not intended to intimidate people or disrupt daily routines. An audit is a structured look at the business practices and procedures of an entity designed to provide management with insights that will allow for informed decisions. From an ownership and management perspective, an audit is a tool using generally accepted procedures designed to provide an independent opinion of the valuation of assets and liabilities, document cash flow and assess the quality of asset management. It is the most widely accepted means of validating the reported operational results and business processes of an entity.

A review is somewhat less comprehensive than an audit. It is designed to provide the CPA with a reasonable basis for expressing limited assurance (to management and others) that there are no material modifications that should be made to the company financial statements. There is no independent verification of data from outside sources or assessment of the quality of the practices and procedures utilized by the entity.

A compilation consists of assistance with formatting of financial statements. It does not entail the review of underlying detail summarized in the financial statements.

A primary cause of failure in business is the simple lack of proper asset management and/or incomplete knowledge of the entity's cash flow. A core service of our CPA firm is consulting with clients about their accounting systems. We offer advice about the design and testing of those systems and procedures management uses to control costs and cash flow. Our commitment is to help clients understand the financial implications of their entity.

At Alexander & Company, P.S.C. your account receives direct oversight and review from one of our shareholders, with the support and input of our staff. This structure means that a shareholder is responsible to take the time and effort to ensure that your account is serviced in a professional, accurate and efficient manner.

Allow us to work with you and your business to reduce the possibility that what you don't know will hurt you.

As a member of the AICPA, our firm participates in its Peer Review Program under which we undergo a review of our quality control standards by an outside CPA firm. Our review opinion, which is unqualified, is available by contacting our office at 684-3237.