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Gunnip & Company provides audit, review, and compilation services to privately-held companies and not-for-profit organizations. Our firm practices a proactive service philosophy, we believe in maintaining contact with our clients throughout the year. As a result, we are able to help recognize hidden opportunities and assist in identifying potential trouble areas. We operate at the highest level of integrity and objectivity and insist on compliance with the profession's ethics and independence standards.
If your company isn't large enough to necessitate a full-time accounting staff, or if you can't find, train and retain the right people, Gunnip & Company professionals can act as your part-time controller. From financial statement analysis to payroll, bookkeeping and related services, we can assist with your accounting service needs.
Our audit philosophy is based on integrity, objectivity, independence and adherence to all professional standards, regulations and laws. The primary objective of every audit is to express an opinion on the fair presentation of the financial position and operational results of our clients. It can be a powerful tool used to improve business operations and bottom-line results. In addition, an audit gives you the credibility you need when dealing with banks, investors, and partners.
Gunnip & Company has considerable experience in the auditing of not-for-profit organizations, including arts and cultural, environmental protection, health and welfare, religious organizations and independent schools. In fact, our work with 501(c) organizations represents 25% of our audit practice. We are oriented and equipped to provide quality service to these entities at a reasonable and predictable cost.
We review financial statements by making inquiries of management and performing analytical procedures. Our review report expresses limited assurance that there are no material modifications that should be made to the financial statements in order for them to conform to generally accepted accounting principles.
Compiled financial statements represent the entry level of service Gunnip & Company can provide with respect to financial statements. In a compilation, we must comply with certain requirements of professional standards, such as having knowledge of the specific industry and applicable accounting principles, having a clear understanding with the client as to the services to be provided, and reading the financial statements to determine whether there are any obvious departures from generally accepted accounting principles. Upon completion, a report on the financial statements is issued that states a compilation was performed in accordance with AICPA professional standards. Compiled financial statements are often prepared for privately-held entities that do not need a higher level of assurance expressed by the CPA.
Before the financial statements can be prepared, it may be necessary to perform additional accounting services. We can provide those additional services such as creating your general ledger or assisting with adjusting entries for your books. Please click here for more information on these services.
Forecasts and Projections
Whether you need a more comprehensive internal budget, want to analyze the future potential of existing or new operations, or need a forecast for financing purposes, our professionals can help you understand the numbers and analyze the information in order to make the best possible business decisions.
A due diligence review can assist a buyer, investor or lender in assessing a company's business. This review can range from a high level to an in-depth evaluation of all or part of the target company's business and organization. Our due diligence reviews focus on financial performance, operational strengths and weaknesses, and strategic objectives.
Gunnip & Company has the financial expertise to advise you about financing alternatives available in the market. We have successfully counseled our clients regarding bank loans, private placements of debt or equity, and venture capital options.
For information regarding assurance services to specific industries, please review our industry profiles.
To speak with someone regarding industries not highlighted, please call 302.225.5000 and speak with:
AICPA Peer Review/Quality Control Program
Member firms of the American Institute of Certified Public Accountants (AICPA), in an effort to maintain and improve the quality of the accounting and auditing services, are required to participate in the AICPA Peer Review/Quality Control Program. Peer review is a periodic outside review, performed by another accounting firm, of a firm's quality control system in accounting and/or auditing. Peer reviews are intended to maintain and improve the quality of the accounting and/or auditing services performed by firms. Gunnip & Company LLP successfully completed our Peer Review in 2014.
Experience is the Difference®