Atlanta Office: 404-252-2208
Athens Office: 706-353-8600
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Nonprofit organizations have a very unique set of accounting needs, including reporting of financials to government and donors, management and allocation of funds, and tax preparation. Smith Adcock has worked with a variety of nonprofits–large and small–and can provide you with experienced support.
Audits provide the users of the financial statements with a level of assurance in the form of an opinion on whether the financial statements are free from a material misstatement.
We will perform the necessary procedures to test the accuracy, reliability, and compliance of your financial statements and relevant disclosures.
During the audit process we confirm the information related to certain accounts utilizing confirmation requests generated by our firm or a third-party confirmation service.
As an additional part of our audit procedures, we will obtain an understanding of the business and its internal controls to identify and assess risks. We will provide recommendations to enhance your internal control systems to reduce the risk of financial errors and fraud.
Review engagements are less in scope than what is required by an audit. Our procedures consist of inquiry and analytical review to understand the periods under review.
The purpose of a review is to provide limited assurance to the users of the financial statements that there are no material modifications that need to be made to an entity’s financial statements to be in conformity with Generally Accepted Accounting Principles (GAAP).
Compilation engagements are less in scope than what is required by a review. We prepare financial statements in accordance with the Statements on Standards for Accounting and Review Services (SSARS).
Compiled financial statements are prepared using only information provided by the client without confirmation or verification, to ensure accurate presentation, as such no assurance is provided on the accuracy of compiled financial statements or the effectiveness of internal controls.
Bookkeeping services are less in scope than what is required by a review or financial statement compilation.
Bookkeeping services are intended to assist our clients with overseeing the financial data and compliance by maintaining accurate books on cash, fixed assets, accounts receivable and payable, payroll, payroll liabilities, loans and other financial entries and reconciliations. The accountants will perform tasks related to monthly financial reporting, general ledger entries, as well as recording payments and adjustments. Our accountants also analyze this data and discuss with the client any information that has significant changes related to prior years. The information is provided by the client and as such no assurance is provided related to that information.
These services enable our clients to focus on their business rather than entering financial data into software and performing reconciliations related to that data.