CTC provides a wide range of services to businesses, organizations and individuals. We always strive to meet each client's specific needs in planning for the future and achieving their goals in the ever-changing financial and regulatory environment. Our professional services include:
Audit engagements provide the highest level of assurance on your financial statements to third parties. Audit procedures include obtaining an understanding on your internal controls, testing selected transactions, confirmation of account balances and observation of selected assets. Based on our findings, we issue a report on whether the financial statements and disclosures are fairly stated in accordance with generally accepted accounting principles. CTC follows generally accepted auditing standards and government auditing standards, when applicable.
Reviews provide limited assurance to outside interests. Review engagements consist of analytical procedures we apply to the financial statements and inquiries from management. A review does not require an understanding of your internal controls, the observation of assets and the verification of certain data. Because of that, reviews are less expensive than audits. These engagements are usually done semi-annually or at year end.
Compilation engagements require the least amount of accounting procedures. Accordingly, we provide no assurance on a compilation engagement. However, compilations are widely used by owners and bankers. Compilation engagements can be performed during interim months as well as at year end.
Sometimes we provide accounting services without being associated with an entity's financial statements. These services include maintaining a detail of property and equipment and related depreciation or analyzing an investment portfolio by comparing the fair value to the original costs and tracking any gains and losses. These services improve the accuracy of a client's record-keeping. Accounting services also includes the preparation of the quarterly and year end payroll tax reports.
Our clients face a myriad of challenges on an ongoing basis. Sometimes they want to discuss their business plans with us before any action is taken. These discussions sometimes lead to research or procedures to determine a break-even point for a new product or making a lease-purchase decision. Over the years our advice has been of great benefit to our clients.
Cash Flow and Budgetary Analysis
Cash and budgetary management is critical for most businesses. We can assist your staff developing cash flow and budget templates so you can have a reliable program that will help you maximize your cash flows. We will consider the cash flows from operations, from investing and financing activities. This can be set up on a month-to-month basis or a long term outlook.
Tax Management and Compliance
At CTC we guide our clients through a full range of tax planning and tax preparation decisions to minimize your tax liabilities and keep you on track of your financial goals. Our experience and through research allows us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
Professional representation is essential during an IRS audit. If you are chosen for an audit, the professional representation you can find with CTC can put your worries at bay. We are ready and willing to answer all questions the IRS may be asking from you.
Internal Control Evaluations
With our background in auditing, we can assist a business with the implementation of procedures that improve operating efficiencies and set up key controls that help detect and defer material fraud and errors. Our staff can assist you with the documentation of the procedures and testing selected transactions to determine these are functioning properly.
Other services vary from assisting you with the due diligence in a business acquisition to the selection of a retirement plan to litigation support. Usually for these services CTC is part of a team, along with your attorney or investment advisor, that will help you meet your goal.