Assurance Services

Hendrix & Barney
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Assurance services, as defined by the AICPA Special Committee on Assurance Services are "independent professional services that improve the quality of information, or its context, for decision-makers." The following outlines a few of the assurance services available at Hendrix Barney & Co.

  • Agreed upon procedures
    Unlike an audit, an agreed upon procedures engagement gets to what is important to an outsider without performing an audit, which is very involved. If you need assistance to document the validity of specific information or accounts in your system, this type of service will only perform steps to look at these specific areas. Your bank may wish to have us test count and price test your inventory, for example, to gain more confidence in its accuracy. This may also benefit the sale of a business. We can help you design the tests that suit your needs.

  • Compilations
    While not a traditional assurance service, a compilation will assist you in organizing your financial data into understandable and meaningful financial statements that will help you analyze your business results. These statements may also satisfy various reporting requirements from lenders and tax authorities.

  • Reviews
    A review is a higher level service than a compilation and includes additional work to analyze your data and a review to determine if your statements are in compliance with Generally Accepted Accounting Principles (GAAP).

  • Business audits
    Audits examine your organization’s financial processes, financial documents and records and will normally include suggestions for improvements. For-profit companies typically need audits or reviews to comply with a lender's debt covenants, governmental requirements, or various contractual arrangements. Not-for-profit organizations typically need audits to comply with grantors' compliance requirements, public expectations, Board of Director's requirements or lender's debt covenants.

  • Employee benefit plan audits
    Generally, employee benefit plans with 100 or more participants are required to have an audit. We can perform this audit for your plan.

(336) 887-2272

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