AUDIT | ASSURANCE

At Rossi we strive to first understand your business and then listen to your needs. Rossi is structured to provide the client with a team of professionals led by the client service Partner to ensure outstanding client service in all aspects of your engagement. In this vein, we offer four distinct financial/accounting services, each designed to meet specific needs. These four services – Audits, Attestations, Reviews, and Compilations are highlighted below.

AUDITS

A certified audit is the highest degree of assurance a CPA can provide on financial statements and the process involves the entire financial picture of an enterprise. Whether you are seeking improved bank terms, additional capital from investors, or to satisfy the myriad of compliance requirements, an audit can be an invaluable benefit to your business. Rossi professionals, have significant experience in providing audit services.

Third parties such as bankers, credit grantors, bonding companies and regulatory agencies often require a certified audit. Should you be exploring or actively selling your business, an audited financial statement adds significant credibility.

Rossi audits are performed in accordance with (AICPA) auditing standards generally accepted in the United States. A certified audit includes the professional opinion of Rossi that the financial statements are fairly and accurately presented in conformity with generally accepted accounting principles. An audit includes significant testing and understanding of the entity’s underlying financial systems, a study of its internal control systems, confirmation with outside parties, physical inspection and observations, risk and fraud assessment, and tracing transactions to supporting documents.

An added benefit of any audit is that it provides greater understanding of operations and increased confidence of financial reporting of the enterprise. As required by professional standards, we will issue a written communication should our audit determine that the company have any material weaknesses in internal control. In addition, we diligently attempt to provide management letters outlining areas that the enterprise can improve upon from both an operational and financial perceptive.

ATTESTATIONS

In an attestation engagement, Rossi professionals will provide assurance on subject matters beyond or specific items within the financial statements based on testing and audit procedures. The focus of an attestation engagement can be a more specific goal and often will include issues related to internal controls and compliance.

REVIEWS

In many instances, a review report on an enterprise’s financial statements is sufficient for a company and its creditors. We review the financial statements in accordance with standards established by the AICPA. In performing review engagements, we are required to have a working knowledge of your industry, gain an understanding of the capabilities of the business’ financial/accounting staff and the key aspects of your operations. We make inquiries relating to the financial statements and your underlying financial information and then apply analytical procedures to identify unusual items or trends that may need clarification. A review performed by an Rossi professional is designed to establish whether the financial statements conform to generally accepted accounting principles, without applying the closer scrutiny of audit-oriented tests.

COMPILATIONS

A compilation involves obtaining company financial information and compiling it in the format of a financial statement. A compilation carries no degree of assurance, yet is adequate for various purposes. Compilation services performed by Rossi professionals will be in accordance with standards established by the American Institute of Certified Public Accountants.

A compilation services requires familiarization with the accounting practices in the client’s industry as well as the company’s transactions and records. Once complete, Rossi is then able to compile the financial statements and give them a professional look, without applying the procedures of an audit or review.

SEC COMPLIANCE

The professionals at Rossi are fully equipped with knowledge, expertise and experience with the Securities Exchange Acts of 1933 and 1934, ensuring that a publicly held company receives the highest quality advice concerning accounting and financial matters governed by these statutes. Rossi staff is available to assist a public company with its SEC compliance reporting, audit preparation services or SOX 404 compliance. We believe that there is a need for the middle market sized publicly-held company to receive the same (if not better) level of service as that provided by the international accounting firms, but with more helpful and frequent personal interaction and at a lower fee structure.

Rossi has also acquired substantial experience with the filing and audit requirements of the Investment Advisors Act of 1940.

SUMMARY

Throughout these practice areas, Rossi’s approach is one of understanding the underlying business concern. We offer services for the entrepreneur starting a new company or the mature company looking for new ideas.