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Assurance Services

Prasad & Company LLP offers a wide range of assurance services for privately-held companies. This includes compilation, review, and audit engagements for corporations, partnerships, and self-employed individuals, as well as FOFI engagements, not-for-profit reporting, and special reporting for financial institutions, lenders, surety, and bonding institutions. Our team of experts provides reliable financial information, which establishes confidence in the strategies and direction business owners create for their corporations.

The firm stays up-to-date with shifting compliance requirements. We also ensure that our work is suited to meet the specific needs of each individual client. Prasad & Company LLP places importance on building a strong relationship with clients, championing strong communication and a clear vision for the future of your company.

We are aware that privately-held companies' needs, opportunities, and risks differ from client to client. Therefore, our team of experts deploys customized audit practices and methodologies to help companies elevate financial reporting standards, strengthen internal controls, and foster confidence in the capabilities and strategies of management teams.

The firm prides itself on our trusted, long-term client relationships and collaborative approach wherein we work alongside clients at each step to meet their specific needs. Through each client engagement, we strive to provide thought leadership and insights that add value to client businesses while maintaining high levels of transparency and integrity.

What are the advantages of professional assurance services?

Having a team of skilled professionals review your financial statements can provide the following benefits:

  • Promotes the accuracy and credibility of reporting processes
  • Fosters confidence in management decision-making within users of the statements
  • Improves existing business processes and internal controls
  • Facilitates obtaining new financing from lenders
  • Allows clients to receive detailed advice and recommendations during the engagement process with a summary of key findings at the end of the engagement
Frequently Asked Questions

Knowledge Base

What is a review engagement?
A review engagement is a service by a professional public accountant that provides a limited degree of assurance that the financial statements issued by a company comply with the requisite financial reporting standard. The primary output of a review engagement is a negative assurance report. In this report, the auditor articulates any concerns that cause them to believe that the financial statements provided do not present an accurate or fair view of the business's financial profile and/or are not complying with financial reporting standards.
What is an audit engagement?
An audit engagement is the most rigorous review of financial statements and accounts that a professional public accountant completes for companies and institutions. The primary goal is to issue an informed, unbiased opinion on the fairness, reliability, and accuracy of financial statements. This opinion of reasonable assurance is then the basis for the decisions of key stakeholders, including investors, governments, and other partners of the business or organization.
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