US GAAP financial statement audit
A statutory audit tests the judgment calls inside your financial statements — recomputing the books is the easy part.
Tell us who is asking for the audit and your deadline. We will tell you what the engagement actually requires and how to run it on your timeline rather than someone else's.
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What a Statutory Audit Tests
A statutory audit is an independent examination of whether your financial statements are presented fairly, in all material respects, under US GAAP. It is not a recount of your bookkeeping, and it is not your tax return.
It is a test of where management made a judgment call: revenue recognition timing, contract estimates, going-concern assumptions. That is where a real audit asks questions and a lazy one nods.
Who needs a statutory audit
A good fit if:
- A foreign parent needs your numbers for its group audit.
- A lender is enforcing a covenant.
- An investor is running diligence ahead of a round.
- You are a construction contractor needing surety bonding.
- A grant condition or state charity filing requires it.
- You are preparing the business for sale or tightening board oversight.
If a party that matters is asking, the audit is already on your calendar.
What it delivers
What a statutory audit delivers
Full Financial Statement Audit
Tested against the judgment calls that drive the numbers, not a recount of the books.
Independent Opinion Issuance
Structured for lenders, regulators, and parent companies.
Group and Consolidation Support
For subsidiaries reporting into a foreign parent.
Pre-Audit Readiness Review
Run before the deadline closes your options.
Estimate and Going-Concern Documentation
Revenue recognition, estimates, and going-concern positions documented to stand on their own.
Talk to a CPA about your audit deadline
If you are a US subsidiary of an overseas group, the consolidation question is the conversation to have before your year-end — not after.
Reach out and we will tell you whether the requirement attaches and what it takes. No obligation, and you are handled by a professional.
Where they go wrong
Where statutory audits go wrong
The Consolidation Trap
A subsidiary folded into a foreign parent's consolidated statements is often pulled into the audit requirement even when its standalone revenue or headcount sits below the threshold.
The Cheap, Uncritical Audit
An audit that only confirms the math adds up gives false comfort. When the SEC shut down one audit mill in 2024 over fabricated work across more than 1,500 filings, every company that had relied on those opinions had to find a new auditor and refile.
The Qualified Opinion
A qualified opinion tells every reader the auditor could not get comfortable with part of the picture, and lenders, investors, and regulators all read it the same way.
The Missed Deadline
Filing without the required independent auditor's report stalls the parent's reporting, holds up financing, and turns a missed requirement into a deadline you no longer control.
How it works
How a Dimov Audit statutory engagement runs
- 01Step 1
Scope Confirmation
We confirm who is asking, what framework applies, and what the deadline really is.
- 02Step 2
Pre-Audit Readiness
Records, estimates, and going-concern positions reviewed before fieldwork starts.
- 03Step 3
Risk Assessment
We focus the work on revenue recognition, contract estimates, and other judgment calls.
- 04Step 4
Fieldwork and Testing
Substantive testing of balances and the judgment calls behind them, not just the math.
- 05Step 5
Opinion and Reporting
An independent opinion structured for lenders, regulators, and parent companies.
- 06Step 6
Group Reporting Support
Sub-pack reporting and consolidation deliverables handed off to the parent's auditor.
Why a CPA firm
Why a statutory audit needs a CPA firm
Only a CPA can issue the opinion
Software cannot, and a template cannot carry the accountability a signed opinion requires.
A license stands behind the signature
When a CPA signs an opinion, a license is on the line. A dashboard offers nothing of the kind.
Peer-reviewed
We are an AICPA peer-reviewed firm — the audit of the auditor, which is the difference between an opinion that holds and one that gets questioned.
Built to survive scrutiny
The value is in the work behind the signature, structured so no one has to defend it later.
Why choose Dimov Audit
Why companies bring statutory audits to Dimov Audit
A signed, independent opinion structured for lenders, regulators, and parent companies — and the work behind the signature done so no one has to defend it later.
500+
audit and attestation engagements
50
states served, nationwide coverage
AICPA
peer-reviewed firm
CPA
signed, independent opinion issuance
Scoping
What drives the cost of a statutory audit
Statutory audit work is priced by the engagement, not a flat rate.
We size the work against your situation and give you a clear quote before you commit.
Contact
Connect with Dimov Audit
Our dedicated team is ready to assist you on your path to financial success.
211 E 43rd St Suite 628
New York, NY 10017
United States
Statutory audit FAQs
Are your financials audit-ready?
Are Your Financials Audit-Ready?
At Dimov Audit, we pride ourselves in quick communication, accurate work, and seamless delivery.