Financial Statements. CPAs plan the audit of historical financial statements to gain a reasonable level of assurance.

Benefit Plan audits include 401(k) or other defined contribution plans, defined benefit pension plans, and health and welfare plans.

Forecasted Financials. These are prospective financials that assume the most likely will occur.

Audits or Examinations

CPAs can issue an opinion about the fairness of financial statements prepared in accordance with generally accepted accounting principles. An audit is a service that CPAs can provide for the owners of an organization to give independent assurance.

All types of organizations engage CPAs to perform audits: publicly and privately held, for-profit and not-for-profit. An audit is an assurance service that reports to a board of directors whether the organization's financial statements present fairly, in all material respects, the financial position and results of operations of the organization.

The CPAs report is presented in the form of an opinion. This opinion does not guarantee absolute accuracy of each number on the financial statements, but, rather, indicates the statements are a fair presentation within a reasonable dollar amount.