CPA Financial Architects even had clients come to them requesting financial statements, just so they can get the loan and work out the interest rate on it. Studies show companies with audited financial statements have lower interest rates by three quarters than companies who do not. Audited financial statements can be pricey from $15,000 to $20,000 for small businesses and $50,000 to $75,000 for in the middle businesses. CPA Architects in Las Vegas – Henderson suggests entrepreneurs should do the math before going ahead and hiring an auditing firm to scrutinize your books. Sometimes a simple review from an auditing firm is enough and returns the same lending benefits for a fraction of the cost.

A great start is to approach the banker and be aware of what they are looking for. The banker could be satisfied with an uncomplicated review statement. CPA Financial Architects advises any business owners looking to hire an auditing firm should make sure that the bank is comfortable with them first, since the bank could have a set of standards that the auditor has to meet.

CPA Financial Architects deals with many businesses in the Las Vegas area and have seen so many go out of their way to hire an auditing team when it was not necessary. An evaluation has to take place to see how the cost plays against the benefits. It is pointless to incur the expense of an audited financial statement when a loan approval is not a set goal. However, in some cases audited statements can benefit business owners to set up larger and better arrangements of credit with suppliers or grabbing the attention of outside investors.