tpbs provides audit, review, and compilation of financial statements for businesses and not-for-profit organizations. Our audit approach is based on a thorough understanding of the industry in which our clients operate.

• Audits – Expressing the highest level of assurance a CPA can provide on financial statements.

  We perform audits of financial statements for clients in many industries. Often, we are engaged to perform the audit to help our client comply with the needs of third parties as dictated in loan agreements, bonding requirements, and/or other regulations. In other situations, we perform audits as part of sound business practices for use by owners and management.

  Some important features of our audit approach include:

  -- A systematic approach to planning the audit. We review, with your financial and operating personnel, their methods for evaluating operating results. In this way, we gain an understanding of your internal environment and operations control that is essential to planning an effective audit.

  -- The design of audit procedures that include an evaluation and judgment relating to targeted areas of risk.

  -- Early and ongoing communication with management. This process includes planning and scheduling to eliminate disruptions to your staff and operations. It ensures that we keep you informed of accounting and reporting developments and that we anticipate potential audit problems. This proactive approach avoids last-minute surprises.

  -- Management letters. We present management letters at the end of an audit to identify opportunities to improve internal control and accounting procedures, encourage compliance with internal policies and external regulations, and provide a basis to improve procedures to safeguard your assets, when required.

• Reviews – Inquiries and analytical procedures to provide limited assurance on financial statements.

  A review of a financial statement may be a more economical alternative to performing a financial statement audit, if negative assurance on the financial statements meets the needs of the client and financial statement users. We commonly perform reviews in the construction industry and for homeowners' associations to fulfill the requirement of the California Civil Code.

• Compilations – Collection and presentation of financial information in the form of a financial statement without expressing assurance.

  Compilations are designed for private companies that do not have the need for audited or reviewed financial statements. Compilations are frequently prepared on an interim basis, monthly or quarterly, as well as annually.

• Personal Financial Statements

• Projections – Preparation of prospective financial statements that, given one or more hypothetical assumptions, present the expected financial position, results of operations and cash flows.

• Forecasts – Preparation of prospective financial statements that present the expected financial position, results of operations and cash flows.

• Agreed Upon Procedures – Performance of, and reporting on, agreed procedures and findings.

  Agreed Upon Procedures engagements can be tailored to focus our efforts on the specific issues of concern to the users. As a result, these engagements can be a cost-effective service to meet our client's needs.

We typically supplement these services by providing management with sound recommendations to strengthen internal controls and/or improve operating efficiencies.

All of our policies and procedures conform to the quality control standards set by the American Institute of Certified Public Accountants.