Remove the Need for Most Audits, Reviews and Compilations
Bank Compliance is Now Cheaper Than Ever
For decades banks have demanded CPA-style financial statements from their borrowers. In the past CPAs have been hindered in helping the borrowers by rules and standards from the AICPA that made these engagements very expensive to conduct.
“Financial Statement Preparation” is now available!
In October 2014, this landscape changed completely. The most comprehensive changes in almost 40 years were made with the release of SSARS 21.
CPAs are now free to “prepare” financial statements for their clients, using their professional judgement that the reports are adequate for bankers and other third party use. This will reduce the cost of compliance with bank covenants by 50% or more.
Organizations like non-profits and churches, who could never afford a CPA style report before, can now provide CPA prepared statements to donors and members. Credibility and accountability will increase dramatically for these organizations.
“Financial Statement Preparation” is a Wisdom specialty.
Wisdom Over Wealth has been issuing these reports since they were first allowed. Contact us for a complimentary consultation about how these reports can be used in your organization.
Contact us for a complimentary consultation.