Accounting firms provide comprehensive financial management services to businesses. By carefully tracking financial information, accounting firms are able to assure legal compliance and advise organizations on financial decisions. Businesses will typically work with these companies year-round but will have the most contact during the generation of quarterly or monthly reports and tax information. Many accounting firms offer tax services and some firms specialize in taxes entirely. In addition to tracking financial information and providing tax services, accounting firms conduct large-scale examinations known as accounting audits. The purpose of an accounting audit is to systematically review an organization’s accounting process for inefficient, inconsistent, or suspicious procedures and transactions. Like bookkeeping services, many accounting firms will offer record keeping of a business's day-to-day financial transactions.
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