Audit Resources
FASB proposes changes to not-for-profit reporting
For the first time in more than 20 years, the Financial Accounting Standards Board proposed a change to the financial reporting model for not-for-profit entities. The goal of the proposed standards is to make not-for profit financial statements more comparable among organizations and more useful to lenders, donors, and other users of the financial statements. […]
Levels of assurance
Some privately owned companies may not need audited financial statements – a less complicated and less costly compilation or review could fulfill your requirements. What are the differences between the three levels? A compilation engagement is typically appropriate for a small, private entity with no lenders or others who rely on financial statements. Compiled financial […]
Audit quality
WK is committed to excellence in our audit practice and undergoes a peer review, conducted by outside CPAs, every three years. In addition, WK is a member of two AICPA divisions that are designed to help ensure high quality audit services – the Governmental Audit Quality Center and the Employee Benefit Plan Audit Quality Center. […]