Independent, partner-led audits for public and private companies.
Reliable financial reporting matters to management teams, investors, lenders, and other stakeholders. Whether your organization is preparing for an SEC filing, meeting an investor requirement, or commissioning its annual audit, choosing an independent audit firm is an important decision.
MBP Global LLP provides financial statement audit and assurance services for public and private companies, with an emphasis on SEC registrants, growth-stage issuers, and internationally active organizations. Our approach combines applicable technical standards with direct partner involvement and clear communication.
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Financial Statement Audit Services Built Around Your Business
A financial statement audit is an independent examination designed to enable an auditor to express an opinion on whether the financial statements are presented fairly, in all material respects, under the applicable financial reporting framework. Audit planning and procedures reflect the company’s business, reporting obligations, and assessed risks.
MBP Global works with finance leaders to understand significant reporting matters, establish engagement expectations, and conduct audits under the professional standards applicable to the engagement.
Our Audit and Assurance Services
Financial Statement Audits
Independent audits support the needs of shareholders, lenders, investors, and other users of financial statements. Procedures may address transaction classes, balances, significant estimates, and disclosures, with the scope determined by the engagement and applicable standards.
SEC and Public Company Audits
For SEC registrants, financial reporting often involves additional audit and disclosure obligations. MBP Global serves small and mid-cap public companies and provides partner-led engagements shaped around their reporting environments, including coordination with management and those charged with governance.
PCAOB and AICPA Audits
The appropriate auditing standards depend on the entity and engagement. MBP Global identifies PCAOB or AICPA requirements as applicable, including the differing expectations of issuer and nonissuer audits.
For a deeper explanation of issuer audit requirements, read our guide to PCAOB audits for public companies.
Private Company Audits
Private organizations may need audited statements for financing, investor reporting, contractual covenants, governance, or planned transactions. The audit approach considers their financial reporting framework, operations, and intended financial statement users.
Financial Statement Reviews and Compilations
A review provides limited assurance, using primarily inquiries and analytical procedures. A compilation assists management in presenting financial information but does not provide audit or review assurance. MBP Global lists reviews and compilations among its services and can discuss which engagement type matches the company’s needs.
Internal Controls and SOX-Related Services
Controls over financial reporting matter to organizations operating under complex reporting requirements. MBP Global also identifies internal control and SOX services within its assurance offerings. Any advisory or assurance scope should be defined in light of independence requirements and the company’s specific obligations.
How the Financial Statement Audit Process Works
1. Planning and Understanding the Organization
The auditor establishes an understanding of the company’s activities, reporting framework, significant transactions, and financial reporting environment. These findings guide engagement planning.
2. Risk Assessment
The engagement team identifies and assesses risks of material misstatement, including areas affected by estimates, complex transactions, and significant judgments.
3. Audit Procedures and Evidence
Auditors perform procedures appropriate to the identified risks, such as examining documentation, obtaining confirmations, recalculating amounts, performing analytical procedures, and testing transactions or balances.
4. Findings and Governance Communication
Significant matters arising from the audit are evaluated and communicated to management or those charged with governance as required by relevant standards.
5. Independent Auditor’s Report
Once the required work and evaluations are complete, the auditor determines the appropriate report and opinion based on the evidence obtained and applicable requirements.
Companies preparing for an engagement can also review what to expect during a financial statement audit for a practical overview.
Why Companies Choose MBP Global LLP
Partner-Led Communication
MBP Global emphasizes direct partner involvement and responsiveness, particularly for companies whose reporting questions require experienced professional attention.
Experience Serving SEC Registrants
The firm positions SEC registrants, including micro-cap to mid-cap issuers, as a central part of its audit practice.
Broad Industry Exposure
MBP Global states that its partners have directed SEC audit engagements across more than 50 industries, including technology, healthcare, financial services, manufacturing, real estate, and consumer businesses.
Complex and Cross-Border Reporting Contexts
Domestic and international issuers can face distinct financial reporting challenges. MBP Global’s audit positioning includes internationally active organizations with U.S. reporting needs.
Who May Need Financial Statement Audit Services?
· Public companies subject to applicable reporting requirements
· Private companies with lender or investor audit conditions
· Organizations preparing for an IPO or other capital markets transaction
· Businesses undergoing significant financing or corporate transactions
· International businesses with U.S. reporting requirements
· Organizations seeking independent assurance under contractual or governance requirements
For transaction-specific engagements, explore MBP Global’s SPAC and de-SPAC audit practice.
Frequently Asked Questions
What are financial statement audit services?
They involve an independent examination of financial statements and supporting information so an auditor can issue an opinion under the applicable reporting framework and auditing standards.
What is the difference between an audit and a review?
An audit provides reasonable assurance through an audit opinion, whereas a review provides limited assurance and generally involves less extensive procedures.
Do private companies need audited financial statements?
Not all private companies must obtain audits, but financing agreements, investor expectations, contracts, transactions, or other requirements can make an audit necessary.
How long does a financial statement audit take?
Timing depends on the complexity of the organization, readiness of records, significant accounting matters, the scope of the engagement, and responsiveness during the audit.
What information will auditors request?
Common items include financial statements, trial balances, reconciliations, accounting policies, schedules, material agreements, and support for significant estimates. The specific request list varies.
How should a business evaluate an audit firm?
Consider independence, relevant licensing and registration, industry experience, applicable audit standards, engagement leadership, and communication.
Discuss Your Audit Requirements With MBP Global
Whether your organization requires an annual financial statement audit, an SEC-related engagement, or another assurance service, MBP Global can discuss the reporting context, potential scope, and appropriate next steps.
