Financial statements are an important business tool for managing the present and planning for the future.
In addition to auditing financial statements, we provide two other levels of service that are often appropriate for our clients: compilations and reviews. Lenders, bonding companies and grantors will often request that organizations provide them with these types of financial reports. Because the procedures are limited in nature and our focus is not gathering audit evidence and expressing an opinion, the cost is generally less than an audit. The following definitions describe these services.
  
Compilation
We assist clients by compiling and presenting their financial data into a standard financial statement format, including disclosures required by generally accepting accounting principles. There is no assurance on the reported information as we do not perform any procedures on the data that has been provided to us by management.
  
Review
We perform limited procedures on clients' financial statement data, generally analytical procedures and inquiries of personnel, in order to provide limited assurance that we are not aware of any material modifications that need to be made in order for the financial statements and disclosures to be in accordance with generally accepted accounting principles.
  
Agreed Upon Procedures
An agreed-upon procedures engagement is not an audit but an engagement in which we apply our independent, third party expertise to financial data. The beauty of an agreed upon procedures engagement (AUP) is that it enables you, the client, to determine the type and extent of procedures to be performed. Our report will not result in an opinion on the financial data but will be a detailed account of the exact procedures we performed and the specific results of those procedures.
For example, if you have a concern about the amount and procedures surrounding your payroll, we can perform an evaluation of the relationship between amounts actually paid to your employees and the rates set forth in their personnel files. We can test a sample of transactions to look for the checks and balances you have put in place; you can even tell us how many you want us to observe.
The only limitation on an AUP is that both you and Rager, Lehman & Houck agree to the procedures to be performed. You have the ability to specifically address the areas for which you have concern and can avoid the cost of testing those areas with which you feel comfortable. The possibilities are endless!
  
Please contact the following to discuss your needs.
Jeff Miller (jeff.miller@rlhcpa.com) 
(717) 637-7300
Sam Miller (sam.miller@rlhcpa.com) 
(717) 637-7300