Audit & Assurance Services
Independent audit and assurance services for reliable financial reporting.
Audit & Assurance
Reliable Financial Reporting
Organizations rely on financial statements when securing financing, meeting compliance requirements, reporting to stakeholders, or planning what comes next. DMJPS provides independent audit and assurance services that help you present dependable financial information and better understand your organization’s financial position.
Our work continues beyond issuing the final report. We discuss what we find, answer questions, and help your team understand how the results may affect financial reporting and operations.
The Right Level of Assurance
Not every organization requires a full financial statement audit. DMJPS helps you determine the appropriate service based on your reporting requirements, intended users, and the level of assurance needed.
Audit
An audit provides the highest level of assurance. Our team examines financial records, tests selected transactions, evaluates accounting practices, and issues an independent opinion on the financial statements.
Audits may be required by lenders, investors, regulators, funding sources, or other stakeholders that rely on your financial reporting.
Review
A review provides limited assurance through analytical procedures and inquiries with management. It is less extensive than an audit but offers greater assurance than a compilation.
Reviews may be appropriate when stakeholders need an independent CPA’s assessment but do not require full audit procedures.
Compilation
A compilation organizes financial information provided by management into financial statement format. It does not include audit testing, analytical procedures, or an opinion on the financial statements.
This service may be appropriate when financial statements are needed for internal use or by third parties that do not require assurance.
Audit Services for Specific Needs
Some reporting requirements call for a more focused engagement. Our team provides specialized audit and assurance services based on the organization, the information being evaluated, and the intended use of the report.
Employee Benefit Plan Audits
As a member of the AICPA Employee Benefit Plan Audit Quality Center, DMJPS performs audits for retirement and health and welfare plans subject to ERISA and Department of Labor requirements. Our team works with plan sponsors, administrators, and service providers to address reporting obligations and guide the plan through the audit process.
Agreed-Upon Procedures
An agreed-upon procedures engagement examines a specific financial area, internal control, contractual requirement, or transaction without requiring a full financial statement audit. We work with the parties involved to define the scope, perform the selected procedures, and provide a detailed report of our findings.
These engagements may be useful when a lender, investor, governing body, or business partner needs independent information about a particular area of the organization.
Internal Controls
Weak or inconsistently followed controls can increase the risk of inaccurate financial reporting, noncompliance, fraud, and financial loss. DMJPS evaluates existing processes and helps organizations identify practical improvements that strengthen oversight and accountability.
Our work may address financial reporting procedures, regulatory requirements, internal policies, or other areas where stronger controls can reduce risk and improve day-to-day operations.
Additional Accounting Support
We can assist with:
- Projections and financial forecasts
- Interim financial reports and bookkeeping
- Business valuation engagements
- Compliance with contractual or regulatory criteria
- Peer review services
Government & Municipal Audits
Government entities operate under distinct reporting standards and heightened public accountability. DMJPS provides audit and assurance services that help municipalities meet their obligations while giving officials greater confidence in the financial information they rely on.
Nonprofit Audits
A nonprofit audit should support accountability without distracting from the organization’s mission. Our team helps nonprofits meet reporting requirements and provide dependable financial information to leadership and funding partners.
Audit Process: What to Expect
A well-planned audit begins with a clear understanding of your organization and its reporting requirements. Throughout the engagement, our team keeps you informed, addresses questions as they arise, and works to make the process as efficient and straightforward as possible.
Plan
We learn about your organization, reporting requirements, internal processes, and timeline before developing an audit plan based on the scope of the engagement.
Examine
Our team reviews financial information, performs testing, and evaluates supporting documentation in accordance with applicable professional standards.
Discuss
We communicate throughout the engagement, review significant observations with your team, and address questions before the audit is completed.
Deliver
You receive the completed financial statements and independent audit report, along with a management letter when recommendations or control matters should be communicated.
Our People
The Team Behind the Work
Our audit and assurance professionals take the time to understand your organization, explain what to expect, and remain involved throughout the engagement. That continuity helps keep the process moving and gives you a knowledgeable team to turn to when questions arise.
Industry Experience
From construction and manufacturing to healthcare and real estate, see how we help organizations across North Carolina and surrounding states.
Keep Exploring
See our full range of services and learn how DMJPS can support your business through changing needs and new opportunities.
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