Service Definitions & Engagement Details
This page provides additional context and plain-language explanations of common accounting, assurance, and advisory services referenced throughout the Crestfield Public Accounting website. It is intended to help prospective clients understand terminology, engagement scope, and service boundaries prior to initiating a discussion.
Private Individuals
Services for private individuals focus on accurate compliance, thoughtful planning, and clear explanation of tax and financial matters. Engagements are designed for individuals who value professional judgment and year-round perspective rather than transactional preparation.
Services are not structured for high-volume or rapid-turnaround preparation.
Advisory & Ongoing Support
Advisory services involve ongoing professional support focused on financial understanding, process improvement, and decision support rather than formal assurance or compliance reporting.
Engagements are typically structured on a monthly or quarterly basis and may include financial review, discussion of trends, internal control considerations, and guidance on accounting or operational issues.
Advisory services do not constitute an audit, review, or assurance engagement.
Tax Planning & Compliance
Tax services are provided either as part of a broader advisory relationship or, when appropriate, on a standalone basis. The focus is on accuracy, planning, and issue resolution rather than volume-based preparation.
Compilation Engagements
A compilation engagement involves presenting financial information in the form of financial statements without providing assurance on the accuracy or completeness of the underlying information.
Compilations are commonly used for internal purposes, lenders, or other third parties when assurance is not required.
Review Engagements
A review engagement provides limited assurance that no material modifications are necessary for the financial statements to be in accordance with the applicable financial reporting framework.
Review engagements primarily involve inquiry and analytical procedures and do not include testing or verification of underlying records.
Agreed-Upon Procedures (AUP)
An agreed-upon procedures engagement involves performing specific procedures agreed to by the client and relevant parties and reporting factual findings without providing an opinion or assurance.
Audit Readiness & Internal Controls
Audit readiness services focus on preparing an organization for an upcoming audit by reviewing documentation, internal controls, and financial processes prior to auditor involvement.
Fractional CFO-Style Support
While “fractional CFO” has become a common term in today’s business environment, CPAs have long served as trusted business advisors, providing senior-level financial insight and professional judgment without the need for a full-time executive role. Fractional CFO-style support reflects this traditional advisory function and may include financial analysis, budgeting support, and strategic discussion tailored to an organization’s specific needs.