Audit & Assurance –
Clarity, Accuracy & Confidence
Our comprehensive Audit & Assurance services deliver clarity, accuracy, and confidence in your financial reporting. Our team of certified public accountants (CPAs) offers independent, customized assessments to meet regulatory requirements, strengthen internal controls, and build stakeholder trust. Whether you need a financial statement audit, review, or agreed-upon procedures, we tailor our services to your business, industry and compliance needs. With deep experience across sectors like manufacturing, construction, and real estate, Monroe Shine ensures your financial data is reliable, transparent, and audit-ready—empowering better decision-making and long-term success.
Audit & Assurance Services
Audits
Audits provide the highest level of assurance that a company’s financial statements accurately reflect its financial position – an essential requirement for stockholders, creditors, and private investors. Monroe Shine delivers a thorough, objective examination that reviews internal controls, testing transactions, and confirms information with third parties for accurate and reliable audit reports. Audits help businesses meet regulatory and tax requirements, comply with banking covenants, deter fraud, and build stakeholder trust. While mandatory for public companies, audits are also often required for nonprofits, government-funded organizations, and private businesses with external financing or absentee ownership.
Reviews
Reviews provide limited assurance that a company’s financial statements are free of material misstatements – offering a cost-effective alternative to a full audit. Through analytical procedures and inquiries with management, Monroe Shine evaluates the consistency and plausibility of financial data without the need for in-depth testing, third-party confirmations, or internal control assessments. While less extensive than an audit, a review still requires adherence to Generally Accepted Accounting Principles (GAAP) and includes all necessary footnotes and disclosures. This service is ideal for businesses seeking a balance between assurance and affordability.
Compilations
A Compilation offers the lowest level of assurance, presenting financial statements based solely on information provided by management without performing inquiries, analytical procedures, or expressing an opinion. While it does not confirm the accuracy of financial data, a compilation prepared by Monroe Shine CPAs can still meet lender requirements and fulfill basic financial reporting needs. This cost-effective service is ideal for businesses that need professionally prepared statements but do not require assurance. Choosing the right type of report depends on your goals, third-party requirements, and budget—and we’re here to help you decide.
Internal Audit
Our Internal Audit services help businesses identify risks, strengthen internal controls, and improve operational efficiency. At Monroe Shine, we work closely with management to evaluate the effectiveness of financial reporting, compliance, and risk management processes customized to your industry and objectives. We offer everything from full-scale internal audits to supplemental support for in-house audit teams. Whether you’re seeking to enhance governance, prepare for external audits, or meet regulatory requirements, our experienced CPAs provide objective insights with customized recommendations. With a proactive, risk-based approach, we help ensure your internal systems are not only compliant but also aligned with your strategic and financial goals.
Employee Benefit Plan Audits
Monroe Shine specializes in comprehensive Employee Benefit Plan Audits that help plan sponsors meet compliance requirements, reduce risk, and protect plan participants. Our experienced audit team works with a wide range of plans, including defined contribution plans such as 401(k) and profit-sharing plans, 403(b) plans, defined benefit pension plans, and employee stock ownership plans (ESOPs). We provide a full suite of services tailored to each plan’s needs, including ERISA Section 103(a)(3)(C) audits, full scope audits, financial statement compilations and reviews, and detailed compliance testing. In addition, we offer consulting for plan design, IRS Employee Plans Compliance Resolution System (EPCRS), and the DOL Voluntary Fiduciary Correction Program (VFCP). With deep knowledge of Department of Labor (DOL) and IRS regulations, Monroe Shine ensures your benefit plan remains compliant, audit-ready, and aligned with fiduciary responsibilities.
Agreed Upon Procedures
Monroe Shine offers Agreed-Upon Procedures (AUP) services for clients who need targeted, objective testing of specific financial data or internal processes. Unlike a traditional audit, our AUP services are tailored to your unique needs – whether you’re verifying compliance with loan covenants, reviewing specific transactions, or confirming financial information for a third party. You define the scope, and we perform the services exactly as agreed upon, delivering a detailed report of findings. AUP services are ideal for businesses seeking transparency, accountability, and reliable insights without the time or cost of a full audit.
Industries
Monroe Shine services a diverse national client base across a broad range of industries, providing expert CPA and business consulting strategies with an aim to exceed client expectations.
