Vaive and Associates

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Review Engagements

A review engagement is a form of financial reporting that provides limited assurance to the financial statement readers. A review engagement does involve a fair degree of analysis and financial statement note disclosure, but not as much as an audit. Review engagements are less expensive to perform than an equivalent audit. Again, a review engagement is usually imposed on an organization by lenders or regulatory bodies. Our professionals involved with our audit clients also work on review engagements, and are continually keeping on top of the ever changing standards.

Compilation Engagements

A compilation engagement is sometimes referred to as a “Notice to Reader” statement. Although we look closely at the financial information when we prepare a compilation engagement, we don’t do the same level of testing that we would in an audit or a review engagement. A compilation engagement is the preferred choice of reporting for most businesses and organizations because it is generally the least costly. As long as an audit or review engagement is not imposed on you by a third party, a compilation engagement is a perfectly sound choice for your financial reporting needs.

Tax Return Preparation

Tax return preparation is an important part of our service offering. We prepare personal tax returns, corporate tax returns, trust tax returns, as well as a variety of information returns and tax elections. As the tax legislation continues to evolve, it is becoming increasingly more difficult for people and companies to prepare their own tax returns. Software can take care of the number crunching, but you need to know what you are doing and how the rules are interpreted and applied. This is our area of expertise. Our tax group has the knowledge and experience to deal with even the most complex tax situation. Whether it’s new rules, changes in assessing policies or new case law that impacts our clients, we are able to help you. We will make sure that you understand your tax situation and will take the time to go through your tax filings line by line if we need to.

If you have a specific tax or accounting need, and want to learn more about how we can help, please contact us.


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