Audits/Reviews/Compilations

Financial statements are tools for evaluating business performance and determining debt-paying ability. We offer three levels of service for financial statement delivery. Contact us if you have questions about which is best for your organization.

Bret L. Hodgdon, CPA, CFP®, CFE, and Mandy Bradley, CPA, M.S., lead the Audit and Accounting Department for the firm. We take a risk-based approach to audits with a strong emphasis on planning so you are ensured efficient and timely audit experience.

In addition to specializing in audit matters, Bret is also one of Vermont’s only Certified Fraud Examiners (CFE) that is also a Certified Public Accountant. He is a proven leader in the anti-fraud community.

Audits

• Audits provide the highest degree of assurance for evaluators   
  • Verify the accuracy of the information in financial statements
  • Provide an opinion on the fairness of the statements
  • Provide assurance of data testing 
  • Provide written documentation of audit conformity with generally accepted accounting principles (GAAP)

Reviews

• Reviews provide less assurance than audits
  • Express limited assurance that we are not aware of material changes

Compilations

• Compilations are often referred to as an “unaudited statement”
  • Present financial statements but Davis and Hodgdon is not obliged to verify the information they contain
  • Provide professional standards to your financial statements (e.g., presentation format, accuracy)

Nonprofit

• Today non-profits represent a large part of our audit and accounting work. This area of expertise includes “Yellow Book” audits for those entities with federally funded programs