Auditing and Assurance Services

Authoritative and illustrative, financial statements provide a wealth of information about an organization’s financial position, performance and risks. Such information is useful not only to business owners and managers, but to investors, lenders, regulators, and other users.

Why would an audit help me?

  • Compliance with requirements of investors, lenders, regulators, and other users
  • GAAP financial statements: reliable financial information
  • Risk management: accuracy of financial information
  • Internal controls: identify areas of improvement
  • Exit planning: being prepared for sale or M&A transaction

We can provide you with the following  assurance services:

  • Audit
  • Review
  • Compilation
  • Agreed-upon procedures
  • QoE (Quality of Earnings)

We pride ourselves in having strong, long-term relationships with our clients—your satisfaction is our number one priority. As our client, you will have a dedicated team and a relationship partner that will be with you every step of the way.

For more information, please contact your Assurance advisor or Cecilia Angat at (415) 655-6214 and

Audited Financial Statements

An audit of an organization’s financial statements provides the highest level of assurance, with an opinion rendered that the financial statements have been presented in accordance with generally accepted accounting principles.

Audit procedures are based on the auditor’s professional judgement and include account balances confirmation with third parties, observation of inventories, and testing of supporting documents and transactions, among other.

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The DZH Phillips team is your partner in this process and you’ll find that we are willing to answer as many questions as you have. We ask probing questions, often interviewing personnel other than top management in order to garner the type of keen insights and useful knowledge that can inform recommendations that ultimately lead to positive outcomes for:

  • Strengthening your internal controls
  • Efficiency of your operations

We also take the time to explain our findings and recommendations fully and tailor our presentations to the specific needs and interests of your board of directors or management.

Reviewed financial statements

Review of  financial statements provides reasonable assurance that  no material modifications are needed  to be made, for the organization’s financial statements to comply with generally accepted accounting principles. It involves mainly inquires of management and analytical procedures. If actual results do not correspond with the developed expectations, further analysis is conducted to identify the reason for the variances. While not a full financial audit, a review may be adequate for many businesses.

Compiled Financial Statements

DZH Phillips prepares compiled financial statements for organizations seeking a professional presentation of financial information, usually for the benefit of the business owners or their financial institution.

A compilation does not offer any formal opinion as to whether the financial statements are accurate, comply with generally accepted accounting principles or are free from material error. In a compilation, an accountant compiles financial information provided by management in the form of a financial statements. Disclosures can be omitted.