--- title: Audits, reviews and compilations | Ashcombe & Reed, CPAs description: Audits, reviews and compilations for lenders, boards and grantors, with independence documented from the first letter. --- [Skip to main content](https://www.nopethemes.com/tickmark/services/audit#main-content) **Next deadline:** extended individual returns, Oct 15 [Tax calendar](https://www.nopethemes.com/tickmark/tax-calendar?hsLang=en) - [Client portal](https://www.nopethemes.com/tickmark/client-portal?hsLang=en) - [(212) 555-0148](tel:+12125550148) [![Ashcombe & Reed, CPAs](https://www.nopethemes.com/hubfs/raw_assets/public/studionope-for-accounting/images/templates/ashcombe-reed-wordmark.svg)](https://www.nopethemes.com/tickmark/home?hsLang=en) - Services - [Industries](https://www.nopethemes.com/tickmark/industries?hsLang=en) - [Partners](https://www.nopethemes.com/tickmark/partners?hsLang=en) - [Fees](https://www.nopethemes.com/tickmark/fees?hsLang=en) - [Tax calendar](https://www.nopethemes.com/tickmark/tax-calendar?hsLang=en) - [Resources](https://www.nopethemes.com/tickmark/resources?hsLang=en) - [Blog](https://www.nopethemes.com/tickmark/blog?hsLang=en) - [Contact](https://www.nopethemes.com/tickmark/contact?hsLang=en) [Book a consultation](https://www.nopethemes.com/tickmark/contact?hsLang=en) Services [Tax preparation and planning Returns, estimates and planning before year end.](https://www.nopethemes.com/tickmark/services/tax-preparation?hsLang=en) [Bookkeeping and monthly close Reconciled books by the tenth of each month.](https://www.nopethemes.com/tickmark/services/bookkeeping?hsLang=en) [Advisory Forecasts, entity choice and a monthly review.](https://www.nopethemes.com/tickmark/services/advisory?hsLang=en) [Audit and assurance Audits, reviews and compilations.](https://www.nopethemes.com/tickmark/services/audit?hsLang=en) Industries [Medical and dental practices Practice entities, owner pay and buy-ins.](https://www.nopethemes.com/tickmark/industries/medical-and-dental?hsLang=en) [Construction and trades Job costing and bonding statements.](https://www.nopethemes.com/tickmark/industries?hsLang=en) [Nonprofits Form 990, restricted funds and audits.](https://www.nopethemes.com/tickmark/industries?hsLang=en) [All industries](https://www.nopethemes.com/tickmark/industries?hsLang=en) - Services Services [Tax preparation and planning](https://www.nopethemes.com/tickmark/services/tax-preparation?hsLang=en) [Bookkeeping and monthly close](https://www.nopethemes.com/tickmark/services/bookkeeping?hsLang=en) [Advisory](https://www.nopethemes.com/tickmark/services/advisory?hsLang=en) [Audit and assurance](https://www.nopethemes.com/tickmark/services/audit?hsLang=en) Industries [Medical and dental practices](https://www.nopethemes.com/tickmark/industries/medical-and-dental?hsLang=en) [Construction and trades](https://www.nopethemes.com/tickmark/industries?hsLang=en) [Nonprofits](https://www.nopethemes.com/tickmark/industries?hsLang=en) - [Industries](https://www.nopethemes.com/tickmark/industries?hsLang=en) - [Partners](https://www.nopethemes.com/tickmark/partners?hsLang=en) - [Fees](https://www.nopethemes.com/tickmark/fees?hsLang=en) - [Tax calendar](https://www.nopethemes.com/tickmark/tax-calendar?hsLang=en) - [Resources](https://www.nopethemes.com/tickmark/resources?hsLang=en) - [Blog](https://www.nopethemes.com/tickmark/blog?hsLang=en) - [Contact](https://www.nopethemes.com/tickmark/contact?hsLang=en) [Book a consultation](https://www.nopethemes.com/tickmark/contact?hsLang=en) - [Client portal](https://www.nopethemes.com/tickmark/client-portal?hsLang=en) - [(212) 555-0148](tel:+12125550148) Audit and assurance # Statements your lender and board can rely on. Audits, reviews and compilations for lenders, funders and boards. The engagement letter sets the scope, the dates and the partner who signs the report. [Talk to the audit partner](https://www.nopethemes.com/tickmark/contact?hsLang=en) [Ask for a written quote](https://www.nopethemes.com/tickmark/contact?hsLang=en) | Step | When | Status | | --- | --- | --- | | Engagement letter Scope, dates and fee | Jan 12 | Signed | | Request list Through the portal | Feb 2 | Sent | | Fieldwork On site and remote | Mar 9 | In fieldwork | | Draft report With management letter | Apr 30 | Scheduled | | Final report Signed by the audit partner | Jun 30 | Scheduled | Report date Jun 30, 2026 Request list ## Everything an engagement includes The letter names the standard, the timetable and what we will ask for. Nothing starts until it is signed. ![Two colleagues working through papers at a daylight table](https://www.nopethemes.com/hs-fs/hubfs/tickmark/photos/meetings/meetings-05-v4.jpg?width=1200&name=meetings-05-v4.jpg) - Planning and independenceDocumented in the engagement letter Before fieldwork - Request listWhat we need and when, through the portal Before fieldwork - FieldworkOn site or remote, on the agreed dates Agreed dates - Weekly statusWhat is still open, from the audit senior Weekly - Draft reportWith the management letter, for your review After fieldwork - Final reportSigned by the audit partner Agreed date Starting fee **Priced on scope** How an engagement runs ## From engagement letter to signed report The same sequence every year, with dates agreed before any testing starts. 01 ### Letter Scope, dates and fee agreed in writing. 02 ### Planning Independence confirmed and a request list sent. 03 ### Fieldwork Testing on site or remote, on the agreed dates. 04 ### Report A draft first, then the final report, signed. Credentials ## What your lender and board will ask to see Licences, our own peer review, and the independence we document in every letter. ### Licences New York Firm licence, CPA New Jersey Firm permit, CPA ### Peer review System review Pass rating Last completed 2024 ### Independence Documented In every letter Books kept for you Never audited by us - AICPA member firm - Peer review, system review - IRS e-file provider - Encrypted client portal ![Sarah Collins in her office at the Riverside Food Pantry](https://www.nopethemes.com/hs-fs/hubfs/tickmark/photos/clients/client-nonprofit-v4.jpg?width=1200&name=client-nonprofit-v4.jpg) Client story > Our funders ask for audited statements by June. Denise sets the fieldwork dates with us in January, and the report arrives when she said it would. Sarah Collins Executive director, Riverside Food Pantry Services Audit, Form 990 Client since 2020 Partner Denise Carter Fees ## What it costs Two levels of assurance. Your engagement letter fixes the fee and the dates before fieldwork begins. - Level of assuranceReview or audit - Entities and fundsPer entity or restricted fund - Single auditWhen federal awards require one - Books at year endQuoted after a first look [Estimate your fee](https://www.nopethemes.com/tickmark/fees#estimator) ![Denise Carter](https://www.nopethemes.com/hs-fs/hubfs/tickmark/photos/partners/partners-03-v4.jpg?width=160&name=partners-03-v4.jpg) **Denise Carter quotes every audit and review.**You get the fee in writing within two business days of your consultation. Lenders and smaller boards ### Review Limited assurance through inquiry and analysis, often enough for a line of credit. Priced on scope - Engagement letter with scope and dates - Inquiry and analytical procedures - Draft before the final report - Signed review report [Ask about a review](https://www.nopethemes.com/tickmark/contact?hsLang=en) Most requested Funders, boards and buyers ### Audit Reasonable assurance with testing, for funders, boards and a sale. Priced on scope - Everything in Review - Fieldwork on site or remote - Management letter - Signed audit report [Talk to the audit partner](https://www.nopethemes.com/tickmark/contact?hsLang=en) Questions ## About audits and reviews Anything else goes to the audit partner at the consultation. What is the difference between an audit, a review and a compilation? An audit gives reasonable assurance and includes testing. A review gives limited assurance, mostly through inquiry and analysis. A compilation presents your statements with no assurance. Your lender or funder usually says which one they need. Can you audit a company whose books you keep? Independence rules do not allow it. If we keep your books, the audit goes to another firm and we work with their team. When should we start planning? As soon as you know the report date. Fieldwork dates before the spring deadlines are booked early. Do you prepare Form 990 as well? Yes, for audit clients the 990 is prepared from the audited statements after the report is signed. Independence Independence: we do not provide audit or review services to clients for whom we keep the books or prepare financial statements. Consultation ## Talk to the audit partner An hour at our office or by video. Bring last year's statements and the request from your lender or funder. ![An office with a tall bookcase and long windows](https://www.nopethemes.com/hs-fs/hubfs/tickmark/photos/office/office-01-v4.jpg?width=1200&name=office-01-v4.jpg) ### Bring these to the meeting - Last year's financial statements - The request from your lender, funder or board - Your report deadline Call the office [(212) 555-0148](tel:2125550148) [Office hours and locations](https://www.nopethemes.com/tickmark/contact?hsLang=en) [![Ashcombe & Reed, CPAs](https://www.nopethemes.com/hubfs/raw_assets/public/studionope-for-accounting/images/templates/ashcombe-reed-wordmark-light.svg)](https://www.nopethemes.com/tickmark/home?hsLang=en) Tax, bookkeeping, advisory and audit for owner-run businesses and the families behind them. 118 West 27th Street, Floor 6, New York, NY 10001 Mon–Fri 8:30–5:30 · extended hours Feb 1 – Apr 15 Services - [Tax](https://www.nopethemes.com/tickmark/services/tax-preparation?hsLang=en) - [Bookkeeping](https://www.nopethemes.com/tickmark/services/bookkeeping?hsLang=en) - [Advisory](https://www.nopethemes.com/tickmark/services/advisory?hsLang=en) - [Audit](https://www.nopethemes.com/tickmark/services/audit?hsLang=en) Firm - [About](https://www.nopethemes.com/tickmark/about?hsLang=en) - [Partners](https://www.nopethemes.com/tickmark/partners?hsLang=en) - [Industries](https://www.nopethemes.com/tickmark/industries?hsLang=en) - [Tax calendar](https://www.nopethemes.com/tickmark/tax-calendar?hsLang=en) Clients - [Client portal](https://www.nopethemes.com/tickmark/client-portal?hsLang=en) - [Fees](https://www.nopethemes.com/tickmark/fees?hsLang=en) - [Resources](https://www.nopethemes.com/tickmark/resources?hsLang=en) - [Contact](https://www.nopethemes.com/tickmark/contact?hsLang=en) Content on this site is general information. It is not tax, legal or accounting advice for your situation. Please do not send confidential documents by email; use the client portal. © 2026 Ashcombe & Reed, CPAs [Privacy](https://www.nopethemes.com/tickmark/legal#privacy) [Terms](https://www.nopethemes.com/tickmark/legal#terms)