Services
Audit & Assurance
Parr & Ibarra’s Audit & Assurance services provide comprehensive, independent evaluations of financial statements to ensure accuracy, compliance, and transparency for businesses of all sizes. Our team conducts thorough audits, reviews, and compilations that offer stakeholders—whether they be investors, creditors, or management—confidence in the financial integrity of your organization. We focus on identifying potential risks, improving internal controls, and offering insights into areas that could be optimized for better financial performance. Our assurance services go beyond traditional auditing, offering you actionable recommendations to enhance business processes, improve efficiency, and ensure compliance with industry regulations and accounting standards. With Parr & Ibarra, you receive the reliability and trust needed to make informed business decisions, mitigate risks, and meet regulatory requirements with confidence.
* Audits are performed by P&I CPA PC
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Ways We Can Help
Our Services
Parr & Ibarra’s Audit & Assurance services are designed to provide businesses with a comprehensive, independent evaluation of their financial statements and internal controls, ensuring accuracy, transparency, and compliance with applicable laws and accounting standards. Whether you need a full financial audit, a review, or a compilation, our team of experienced professionals delivers thorough, actionable insights to help your business grow and maintain trust with stakeholders, investors, and regulatory bodies.
Financial Reporting & Verified Statements
- Full Financial Audits (Reasonable Assurance): Our highest level of service. We conduct an in-depth examination of your records, internal controls, and third-party confirmations to provide a formal opinion on your financial health. Explore our financial statement audit services →
- Review Engagements (Limited Assurance): A cost-effective middle ground. We use inquiries and analytical procedures to provide limited assurance that no material modifications are needed to your statements.
Explore our review engagements services → - Compilation Engagements (No Assurance): Ideal for internal use or simple reporting, we assist management in organizing and presenting financial data in a professional format without providing a formal opinion.
Explore our compilation engagements services →
Specialized & Industry Audits
- Governmental Audits (GAGAS / Yellow Book): Specialized auditing for organizations that receive government funding, ensuring compliance with rigorous “Yellow Book” standards.
Explore our governmental audit services → - Employee Benefit Plan (EBP) Audits: Expert audits for 401(k) and other benefit plans to ensure your organization remains in compliance with Department of Labor and IRS regulations.
- Special Purpose Financial Audits: Audits focused on specific financial frameworks, such as cash-basis or tax-basis statements, rather than standard GAAP.
Strategy, Compliance & Investigations
- Compliance Audits: We verify that your organization is adhering to specific laws, contractual obligations, or grant requirements.
Explore our compliance audit services → - Internal Audit & Operational Reviews: We evaluate your internal controls and processes to identify inefficiencies and strengthen your risk management.
- Forensic Audits & Fraud Investigations: Professional investigative services designed to detect, deter, or quantify financial irregularities and fraud.
- Agreed-Upon Procedures (AUPs): You define the scope; we perform the specific tests and report the findings. This is a flexible tool for verifying specific data points without a full audit.
- Forecast & Projection Reviews: Planning for the future? We examine your prospective financial information to ensure it is presented logically and according to industry standards.
Financial Statement Audits
Our audit services provide a thorough examination of your financial statements, offering a detailed, independent assessment of your company’s financial health. We follow a rigorous process that adheres to generally accepted auditing standards (GAAS) and other relevant regulations. The outcome is a report that assures stakeholders—such as investors, lenders, and regulators—that your financial statements are presented fairly, accurately, and in compliance with accounting principles.
Review Services
A review is a more limited form of assurance than an audit, offering a less comprehensive but still valuable level of scrutiny. Our review services provide a moderate level of assurance that your financial statements are free from material misstatements. While not as in-depth as an audit, our review still helps provide assurance to stakeholders that your financial information is reasonably accurate and reliable.
Compilation Services
For businesses that do not require an audit or review, our compilation services provide you with an organized set of financial statements based on the information you provide. While we do not offer any assurance on the financial statements, our professional team ensures that the statements are properly formatted and follow the relevant accounting standards. This service is ideal for smaller businesses or those not subject to regulatory scrutiny but still in need of clear financial reporting.
Internal Control Assessments
A strong internal control system is essential for any business, and we provide in-depth evaluations of your company’s internal controls to identify potential weaknesses and inefficiencies. Our experts will assess your procedures for handling cash, accounting, data security, and compliance, offering practical recommendations for improving controls, preventing fraud, and enhancing operational efficiency.
Risk Management
Our audit and assurance services include identifying and assessing potential risks that could impact your business, including financial, operational, and regulatory risks. We work with you to develop risk mitigation strategies that protect your business, ensuring that you are prepared for unexpected events and challenges.
Regulatory Compliance
In today’s fast-changing regulatory environment, ensuring compliance with all relevant financial regulations is essential. Parr & Ibarra’s team stays up to date with the latest industry standards and regulations, offering guidance on ensuring your business complies with federal, state, and local tax laws, as well as industry-specific regulations.
Custom Assurance Services
Beyond traditional audit and review services, we offer tailored assurance solutions based on your business’s unique needs. This includes assessing specific aspects of your financial operations or preparing reports for specific stakeholders, such as investors, lenders, or board members.
Frequently Asked Questions
Knowledge Center
What types of audit services do you provide?
We offer a full range of assurance services, including financial statement audits, reviews, and compilations—each tailored to your organization’s needs, funding requirements, or regulatory obligations.
What is the difference between an audit, a review, and a compilation?
Audit: Provides the highest level of assurance; includes in-depth testing, risk assessment, and evaluation of internal controls.
Review: Offers limited assurance through analytical procedures and inquiries.
Compilation: Presents financial information in a standard format without assurance or verification.
How do you maintain auditor independence and objectivity?
We strictly follow professional ethics and regulatory standards to ensure independence. We avoid conflicts of interest and do not make management decisions, so our findings remain impartial and reliable.
What does your audit process look like?
Our audit process includes:
Planning & Risk Assessment
Internal Control Evaluation
Fieldwork & Testing
Reporting & Communication of Findings
We keep your team informed at every stage and aim for a smooth, collaborative experience.
What internal controls do you evaluate?
We assess key controls related to:
Financial reporting
Cash handling
Expense approvals
Segregation of duties
IT and cybersecurity (if applicable)
Our goal is to identify control weaknesses and recommend improvements.
Contact Us
Looking to talk? We are ready.
Take a few minutes to provide us with some information about your current situation. We are eager to help.
Made up your mind and looking to get things moving? Submit an RFP.
