Accounting & Auditing
Edelstein & Company LLP provides audit, review and compilation services to privately held companies in a variety of industries. While we are expected to provide these attestation and compliance services, we seek to deliver value that goes far beyond simply producing a financial statement report.
Towards that end, we make it a point to understand as much as we possibly can about both external factors (competitive conditions, regulatory requirements, industry trends) and internal factors (ownership, operating characteristics, financing) that contribute to or detract from our clients' success. Our goal is to put ourselves in a position to enable clients to enhance their efficiency, increase their revenues, manage their expenditures and improve their internal controls. We know that what our accounting and audit clients are really looking for is access to our experience, knowledge, and expertise in order to complement and supplement their own internal resources, and minimize risk.
Clients look to us as a source to help them:
- Implement important accounting pronouncements internally before they are required
- Prepare financial statements in accordance with Generally Accepted Accounting Standards
- Communicate important items to the Board of Directors or upper level management
- Produce meaningful and timely (according to bank or regulatory deadlines) financial statements that are easily understood
- Make the whole process go smoothly both for management and staff directly involved in the process
The specific services we offer in the areas of Accounting and Auditing are:
- Audits, reviews and compilations
- Forecasts, projections and budgets
- Year-end planning
- Review and evaluation of the internal control environment
- Automation of procedures to improve the cost effectiveness of operations
- Agreed-upon procedures
- Performance measurement services
- Write-up services
- Implementation of accounting software
- Management letters
Peer Review
We are very proud of our Peer Review record. Our firm’s audit work has been peer reviewed since 1990. In each case we have received an unqualified report that our firm adhered to required procedures for quality control. Our most recent peer review was completed in November, 2011 without comments, indicating that our firm’s procedures adhered to the highest standards. This peer review was accepted by the Massachusetts Peer Review Acceptance Board on January 25, 2012.
