AuditsWhere finances are concerned, it’s in everyone’s interest to make certain that records,such as income statements, balance sheets and cash flow statements, are fair, honest and accurate. Contact Us
A yearly audit of businesses, not-for-profit organizations (including Federally Qualified Health Centers or FQHCs), local governments, school districts or employee benefit plans (401k and 403b) is a sound financial practice.
Where finances are concerned, it’s in everyone’s interest to make certain that records,such as income statements, balance sheets and cash flow statements, are fair, honest and accurate.
Such audits can be conducted internally if the organization is large enough to have the appropriate resources. But an external audit conducted by a CPA firm can remove any hint of potential bias and ensure the highest level of professional standards.
The Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) sets the standards for external audits in the United States. BecauseQuast,Janke& Co. are members of the AICPA, you can feel confident that we adhere only to the best auditing standards.
Certified Public Accounting firm sare the best option for performing external audits. Outside or third parties have no vested interest in the outcome of the audit. Whether the final report is submitted to the company’s owners or managers or to a board of directors or shareholders, external auditors are viewed as providing an unbiased, honest assessment.
So when credibility counts, count on Quast, Janke & Co. Our external audits will identify any misstatements in your financial statement and provide an opinion. When your company is given a clean, or unqualified, opinion, you know that your financial statements are complete and accurate.
Internal Revenue Service Audits
First, don’t panic! Second, call us.
Yes, some returns are audited because they have raised a red flag. But most audits are the result of a statistical formula that randomly selects returns to verify their accuracy. An audit is not an accusation of wrongdoing, so relax! At least, take a deep breath.
Our accountants will sit down with you to go over your federal tax return and assist you in preparing for the audit. If all goes well, the IRS will determine that your return is correct and your ordeal is over. Otherwise, the IRS will identify a change in your return. If you accept the change, you pay any additional taxes or penalties. Or you can appeal the decision. Either way, we’ll stand by you through the process.