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Services

harelik, shapiro, wolgin & fine, p.c. provides a wide range of services to individuals and businesses in a variety of industries. We strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:


Assurance and Attest Services

Audit:

An audit is a service, the objective of which is to express an unqualified opinion that the financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principals.

An audit includes examing, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit is designed to provide reasonable, rather than absolute, assurance of detecting misstatements that, in our judgment, could have a material effect on the financial statements, whether from errors, fraudulent financial reporting, misappropriation of assets, or violations of laws or governmental regulations that are attributable to the company or to acts by management or employees acting on behalf of the company.

Review:

A review is a service, the objective of which it to obtain limited assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. In a review engagement, the accountant should accumulate review evidence to obtain a limited level of assurance. A review engagement is an assurance engagement, as well as an attest engagement.

A review differs significantly from an audit of financial statements in which the auditor obtains a high level of assurance (expressed in the auditor’s report as obtaining reasonable assurance) that the financial statements are free of material misstatement. A review does not contemplate obtaining an understanding of the entity’s internal control; assessing fraud risk; testing accounting records by obtaining sufficient appropriate audit evidence through inspection, observation, confirmation, or the examination of source documents (for example, cancelled checks or bank images); or other procedures ordinarily performed in an audit. Accordingly, in a review, the accountant does not obtain assurance that he or she will become aware of all significant matters that would be disclosed in an audit. Therefore, a review is designed to obtain only limited assurance that there are not material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework.

Compilation:

A compilation is a service, the objective of which is to assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. Although a compilation is not an assurance engagement, it is an attest engagement.

A compilation differs significantly from a review or an audit of financial statements. A compilation does not contemplate performing inquiry, analytical procedures, or other procedures performed in a review. Additionally, a compilation does not contemplate obtaining an understanding of the entity’s internal control; assessing fraud risk; testing accounting records by obtaining sufficient appropriate audit evidence through inspection, observation, confirmation, or the examination of source documents (for example, cancelled checks or bank images); or other procedures ordinarily performed in an audit. Therefore, a compilation does not provide a basis for obtaining or providing any assurance regarding the financial statements.

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Management Advisory Services

Over the years, we have helped numerous clients grow and manage their growth. We have done this, as their CPAs, by getting to know their organization, their finances, their personnel, their tax situation and their data processing and management information needs.

Our clients have found that we can be of great assistance in the planning process and in charting their growth and their future personnel and financial needs, working with them to formulate a business plan, defining their goals and objectives and developing realistic budgets and workable timetables to meet each goal and objective. In developing projections and forecasts with them to help with budgeting, with establishing projected or forecasted personnel and capital needs, and in helping them restructure their internal organization, define the duties of key personnel and prepare an organization chart which will be able to deal successfully with that growth. With our years of experience and our knowledge of the intricacies of tax laws and regulations, we can point out options, opportunities, potentials and dangers. We can help you devise a strategy for your business. We can advise you in mergers, acquisitions, and expansion or in selling your business.

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Tax Planning

Whether your tax needs are simple or complex, personal or business, we can help you develop tax-saving strategies.

We assist corporations, partnerships, limited liability companies, sole proprietorships, individuals, estates, trusts, non-profit organizations and employee benefit plans. Our clients know that we can help them resolve tax issues before they become tax problems.

We can advise you on tax effects of business transactions and personal moves, on how to improve your current tax position, on how to preserve and increase your assets now and in the future and on how to minimize estate and inheritance taxes. We can help you obtain advance rulings from the IRS on proposed transactions, and we are available to represent you or to accompany you to meetings with regulatory bodies in cases of disputes.

As CPAs, we provide you with the knowledge and expertise to structure your transactions and plan your estate to minimize taxes. We work with your other advisors to give you comprehensive, detailed and, most importantly, personal service, always keeping in mind your goals and your needs.



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