Assurance Services

Compilations, Reviews, and Audits

As a CPA firm with Big 4 experience, we offer a range of assurance services designed to provide varying levels of confidence in your financial statements. Choosing the right level of assurance depends on your specific needs and the intended use of the financial information.

Assurance Services

  • A compilation is the most basic level of assurance. We take your financial records and present them in the form of financial statements; however, we do not verify the accuracy or completeness of the information and do not provide assurance on the statements. Think of it as organizing your data into a standard financial statement format.

    This service is usually beneficial for clients that need quarterly reporting for their investors, with no assurance required.

  • CPA financial statements compiled professionally which is useful for internal management purposes or for certain regulatory filings. Usually performed on a quarterly basis for clients requiring annual financial statement reviews.

Compilations

  • A review provides a higher level of assurance than a compilation. The firm performs analytical procedures and makes inquiries of management to assess whether the financial statements are plausible. While this is not a full audit, there is limited assurance obtained that there are no material modifications that should be made to the financial statements. This is usually performed on an annual basis, with public companies requiring quarterly reviews.

  • Reviewed financial statements that provide more credibility to stakeholders, such as lenders or investors, than compiled statements. A review provides limited assurance and is usually requested by lenders within their lending agreement with clients. The frequency is annual, with quarterly reviews performed for clients requiring annual audits.

Reviews

  • An audit is the highest level of assurance the firm can provide. We perform extensive procedures, including verifying transactions, examining records, and obtaining independent confirmations, to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to fraud or error. An audit requirement is usually necessary to get ready for a SPAC, IPO, or to comply with terms of any underlying Operating or Debt Agreements.

  • Audited financial statements that provide the highest level of credibility to stakeholders, including investors, lenders, and regulatory bodies. An audit provides reasonable assurance that the financial statements are free of material misstatements due to error or fraud. The frequency is annual and is usually specifically required for clients to be in compliance with their operating agreements.

Audits

Choosing the Right Service

Your Needs

What are you using the financial statements for? Internal management? Lenders? Investors?

Your Budget

How much are you willing to invest in assurance services?

Your Stakeholders

Who will be relying on the financial statements?

Our firm is happy to discuss your specific needs and help you determine which level of assurance is appropriate for your business.

How to get started.

STEP ONE

We connect.

In a complimentary consultation, we'll gain a clear understanding of your unique needs, paving the way for a tailored solution designed specifically for you.

STEP TWO

We execute.

Whether it's business accounting, advisory, or assurance, our team of experts leverages deep expertise and dedication to build trust in your business finances.

STEP THREE

Clarity achieved.

Rest assured that your finances are in a reliable state, providing clarity and value for any stakeholder requiring financials prepared in accordance with applicable standards.

SCHEDULE YOUR FREE CONSULTATION.

During this 30-minute consultation, we’ll discuss your business needs and determine which of our services is best for you.

FAQs

  • We're passionate about helping businesses stay on top of their finances and financial reporting compliance, so they can operate effectively and stay organized. With experience from one of the large Big 4 firms and bilingual in Spanish and English, we help many small and medium-sized business achieve financial preparedness.

    We also pride ourselves on timely deliverables and taking the time to explain the financial statements we prepare. We'll work alongside you to accomplish your goals, ensuring you never have to question what else you could be doing.

  • We serve minority & women-owned small and medium-sized businesses. While we support wholly-owned entities, we have extensive experience with partnership, holding company, and private equity structures. Our group also has the capability to support publicly listed entities or those preparing for an IPO or SPAC.

    Industries We Serve

    Our firm serves a variety of industries, including , but not limited to the following:

    Real estate:

    Commercial

    Residential

    Infrastructure

    Joint Ventures

    Real Estate Funds

    Construction & Development

    Private money lenders

    and more...

    Professional Services Sector:

    Financial Services

    Education and Training

    Lawyers

    Consultant

    Mental Health Industry

    Health & Wellness

    and more...

  • We know you have unique KPIs and priorities beyond just accounting and finance. By entrusting us with your accounting, assurance, or advisory services, you'll gain the freedom to focus on your core business operations. You can count on us for valuable insights and personalized service, acting as your trusted partner to help you succeed and remain compliant, all at a competitive rate.

  • You should consider engaging Karolyn Diaz CPA at any crucial stage of your business journey. We provide invaluable support that allows you to focus on your core operations while maintaining financial integrity and strategic clarity.

    Our expertise can assist with:

    Starting Up: Developing initial business plans and financial forecasts.

    Growing & Managing: Maintaining accurate financial records, optimizing operations, and seeking growth strategies.

    Major Transactions: Undergoing mergers, acquisitions, or preparing for a business sale.

    Assurance Services: When you need compliance & reliability with audits, reviews, or enhanced financial integrity.

    Partner with us to gain peace of mind and strategic clarity, knowing your finances are expertly managed.

  • Yes! This falls under our advisory services. We are able to create budgets, build forecasts, and provide financial statements. First and foremost, let's make sure your business finances are in order before we onboard you to our additonal services.

  • We primarily meet with clients via video conferencing. For clients who prefer in-person meetings, we have an office space in Southlake, Texas and we offer in person meetings by appointment only.

    All meetings are billed at our standard advisory hourly rate, unless hours are specifically included in your service package.

  • While our firm specializes in accounting, bookkeeping, advisory, and assurance, we understand that tax services are crucial for your overall financial health. To ensure you receive comprehensive support, we've built a trusted network of highly qualified Tax CPAs. We're happy to refer you to them for all your tax compliance and planning needs.

    Beyond just the numbers, if we identify other areas where specialized expertise could benefit you—like tax strategy, marketing, or personal finance—we'll gladly connect you with the right professionals. Our goal is to work seamlessly with you and your specialists as a unified team, allowing our firm to deliver exceptional value in our core areas of expertise.

  • We want to make sure we're the perfect fit for your needs! We encourage all prospective clients to explore our website first to gain a detailed understanding of our services and how we can support your business.

    Ready to Chat?

    We offer 30-minute complimentary consultations to all new leads. We highly recommend you submit a brief description of what you're looking for when you schedule, as this helps us prepare efficiently for our call.

    What to Expect:

    1. Questionnaire: After scheduling, our firm will send you a questionnaire to better understand your business and specific needs. Please complete this before our call so we can make the most of our time together.

    2. Consultation Call: During our call, we'll clarify the project scope, including the start date, frequency of services, and the best communication methods to keep you updated throughout the engagement.

    3. Engagement Letter & Payment: Following our discussion, we'll send a customized engagement letter. Once signed, the onboarding fee and/or initial retainer will be automatically requested.

    4. Next Steps: As soon as payment is submitted, our firm will reach out with your next steps to officially begin our partnership!

  • We provide a white-glove onboarding service designed to get you up and running smoothly.

    Accounting, Bookkeeping & Financial Advisory Clients

    If you engage us for Accounting & Bookkeeping or Financial Advisory services, our process ensures you're never left wondering about next steps. We'll quickly identify "easy wins" for cash flow advantage or pinpoint key areas in finance/accounting that need immediate attention for process improvement or implementation.

    Assurance Services Clients

    For Assurance services, you can expect weekly communication to keep you fully informed. We'll clearly define the project scope, confirm our independence, and define an engagement completion date that works for YOU. We'll identify the best efficient way to work together to ensure requested documentation is provided promptly to support the Compilation, Review, or Audit.

  • Assurance is another way of describing services that cover the independent analysis of a business's financial statements to ensure financial activity is being reported under the applicable financial reporting framework. The levels of assurance we offer are Compilations, Reviews, and Audits. Compilations provide clients with CPA prepared financial statements with no assurance. Reviews provide clients with limited assurance. Audits provide clients with the highest level of assurance that financial statements are being prepared in accordance with the applicable accounting framework.

    To read more about the assurance services we offer, click here to visit our Assurance services page.

  • If you have questions that go beyond categorizing routine transactions and reconciling period-end accounts, then you're likely going to need our advisory services to customize your special project.

    Visit our Financial Advisory services page to learn more.