As certified public accountants, we are responsible for the objective examination of financial statements in accordance with generally accepted auditing standards.  Our audit philosophy includes understanding the key aspects of our clients' operations and the areas which are critical to their success and their ability to attain their goals.

Although the primary objective of an audit is the expression of an opinion on the fair presentation of the financial statements, we consider it important to develop suggestions and recommendations to assist management in improving the internal controls and efficiency of the organization.

In addition to our services for commercial entities, we also perform audits of governmental or nonprofit organizations that receive federal funding and are subject to an independent audit under the Single Audit Act.  

For clients who do not have an outside requirement for an independent audit but want reliable financial information and an accoun¬tant they can call upon during the year, we often recommend a review in accordance with standards issued by the American Institute of Certified Public Accoun¬tants.

Rather than rendering an opinion on the financial state¬ments, we will provide limited assurance that no material modifica¬tions are needed in order for the financial statements to be in conformity with generally accepted accounting principles.  This service is less costly than an audit.  During the process of reviewing the financial statements, we will also become familiar with the client's operations and make suggestions that come to our attention.

When a client needs financial information compiled into the form of financial statements and does not require the assurances provided by an audit or review, we may perform compilation services.  These services are much less expensive than an audit or review and can provide attractive financial reports for owners, board members, creditors, etc., on an annual or interim basis.  As part of such an engagement, we would obtain documentation of certain balance sheet accounts in order to provide you with any year-end adjusting entries that we found needed to be recorded. 

Harrigan Price Fronk & Co. LLP is a member of the Private Companies Practice Section of the American Institute of Certified Public Accountants.  The firm has undergone seven peer reviews, each covering a three-year period.  These reviews of our quality control are required for firms who audit federal financial assistance programs.  They are conducted by other CPAs who evaluate our firm based on certain standardized criteria provided by the AICPA.  Our firm is proud to report that we received unqualified opinions on all of our reviews.  In August, 2009, we completed our most recent review and a copy of that unqualified opinion is available upon request.