Clarity Tax & CPAs
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Clarity Tax & CPAs
Preparing your experience
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Audits Done Right (And Only When You Actually Need One)
Our team is registered with the PCAOB and peer-reviewed every 18 months. Senior auditors handle every engagement. We diagnose before we prescribe.
Financial statement audits are performed by our senior auditors. First, we schedule a quick free consultation to determine if you actually need an audit or if a simpler service will meet your needs.
If you decide to engage our firm, we'll work closely with you to learn about your financial policies and procedures. Before we begin the audit, we'll determine whether you need any help cleaning up bookkeeping issues that could generate negative findings on the audit.
For nonprofits with federal funding
Single audits are often required for nonprofits with federal fund expenditures of $1 million or more (recently increased from $750,000).
In addition to the information you'd expect to see in a regular financial statement audit, single audits also contain a Schedule of Expenditures of Federal Awards (SEFA), which shows why you received the awards, how you spent the funds, and whether you adhered to relevant grant policies for each award.
Yellow Book audits (GAGAS) are performed for government-funded entities, including certain nonprofits which do NOT meet the federal funds expenditure threshold that would trigger a single audit requirement.
A Yellow Book audit can be used as a standalone document or incorporated into a single audit. As a standalone document, Yellow Book audits do NOT contain a Schedule of Expenditures of Federal Awards (SEFA).
An audit may not be needed in every instance in which a homeowners association is requested to have an audit performed. The level of accounting services needed may vary based upon the organization making the request and the requirements set by your state.
As a CPA firm registered with the PCAOB and reviewed by our peers, we will evaluate your organization's needs to determine the proper level of service for which to quote you a flat fee.
Audited financial statements, compilations, reviews, and single audits are all priced based on the following factors:
The simplest type of audit service, a compilation, requires fewer staff hours and doesn't require partner engagement, making compilations the fastest and least expensive type of assurance service we offer.
Reviews take approximately 40% more hours than a compilation to complete, and audits require the most. The more complex your business is, the more hours may be required.
We'll provide a quote after a quick 30-minute scoping call BEFORE you engage our services.
We can recommend the most cost-efficient service to meet your needs. Many clients find they can save thousands by exploring all of the options available.
The secret to a good audit is having good books. Otherwise, your audit will contain a negative opinion and be a waste of your money.
We can help you clean up your bookkeeping before completing your audit if needed. Learn more about how our bookkeeping service can help get your books audit-ready.
Clean books make for a quicker, easier audit for everyone involved. When we see clean, audit-ready books, we can proceed directly to the audit with no clean-up required and avoid an audit that includes a negative opinion of the financial state of your business.
Financial statements can determine whether you receive loans, investments, or even federal grant funds. That's why we adhere to the highest standards for quality and customer satisfaction, including:
A sample of recent audit and assurance engagements, anonymized to protect client confidentiality.
Reconstructed the SEFA and cleared a federal compliance gap with zero questioned costs.
Read the case study
Traced two years of reserve activity and gave the board the documentation it needed.
Read the case study
Restated three years of financials and kept an acquisition on track to letter of intent.
Read the case study
Book a free quote so we can determine if you need an audit or if a simpler assurance service is enough. We'll use the info you give us to provide a recommendation and a quote so you know the cost up front before any fieldwork begins.
Reviewed by Kelly Sheng, CPA at Clarity Tax & CPAs
Cross-Border Senior Tax Manager · Last reviewed: May 2026