810 Quincy Street | Rapid City, SD 57701
(605) 342-5630
(605) 342-2172

Audit, Review & Compilation

Ketel Thorstenson, LLP (KTLLP) is pleased to provide comprehensive audit, review, and compilation services to businesses and organizations in and around the Rapid City, South Dakota area.

OVERVIEW

Before you head off to see your lendor, creditor, grantor, bonding company, regulator, potential purchaser, or anyone else requiring a report of your financial situation, you’ll want to make sure that your financial statements are properly prepared, in order, and free of error. Audit, review, and compilation are three distinct services that come together to provide for the organization and integrity of your company’s financial situation as it’s represented on paper.

What Can Audit, Review, & Compilation Do For You?
The compilation of your financial statements is a necessary step before any inquiry or transaction with your bank, lender, investor, etc. Reviews and audits are two levels of verification that can smooth the lending or purchasing process at-hand and are often required by a lender, regulator, or granting agency. Compiling, reviewing, and auditing your financial statements with a professional auditor will expediate the process and alleviate any headaches that could potentially arise with your current endeavor.

OUR SERVICE
Depending upon your business needs, KTLLP provides compilation, review, and audit services for commercial entities, governmental organizations, tribal groups, nonprofit organizations, and other specialized niche industries. With our wealth of experience, you can rest assured that our reports are accurate and useful in refining transactions and operational procedures.

At KTLLP, we provide:

  • COMPILATION | If you require compilation services, we will assist you in presenting your information in the form of financial statements. This is the least extensive form of service KTLLP provides; it does not offer any assurance or attest to the level of accuracy within the information presented.
  • REVIEW | The purpose of the review is to assure the end-user/entity that the financial statements presented are in conformity with the applicable financial reporting framework. This service provides limited assurance and is less extensive than the audit.
  • AUDIT | The audit is the most extensive of this group of services. Financial statement audits provide the end-user/entity with the KTLLP auditor’s professional opinion of the financial reporting. This service includes Internal Control and Fraud & Risk Evaluation.
  • AGREED UPON PROCEDURES | We haven’t met your needs yet? We can tailor our procedures to perform specific steps that give you exactly what you’re looking for. This cost-effective option results in a report detailing each step performed and any deviations noted.

Contact us about our Audit, Review, & Compilation Services

For more information, please contact:

Jean Smith
CPA, Partner
(605) 718-3578
Joel DeVries
CPA, Partner
(605) 716-8999
John Walker
CPA, Partner
(605) 716-8694
Nina Braun
CPA, CFE, Partner
(605) 718-3571
Steve Schacht
CPA, Partner
(605) 716-8990
Traci Hanson
CPA, Partner
(605) 718-6037
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