Supplier qualification
Greywood CPA prepares audited and reviewed financial statements for suppliers going through supplier qualification. Large manufacturers, retailers, distributors, utilities and government buyers check a new supplier's financial health before they sign, and many ask for CPA-prepared statements as part of onboarding or annual re-qualification. We are a licensed CPA firm (Virginia Board of Accountancy firm license #134961) working nationwide, at a fixed fee.
Supplier qualification usually also covers quality, safety and capacity, often through ISO or on-site quality audits. We handle the financial side: independent statements that show the customer you can fund production, carry inventory and deliver on a long contract.
Last reviewed: November 2026
A customer that depends on you for parts or services carries your risk. If you run out of cash mid-contract, their production line stops. Procurement and supplier risk teams review your statements to answer three questions: can you fund the work, are you profitable enough to stay in business, and is anything on your balance sheet a warning sign?
| Situation | Usually accepted |
|---|---|
| Smaller vendor onboarding | Reviewed statements, sometimes compiled |
| Strategic or sole-source supplier | Audited statements |
| Large multi-year contract | Audited statements, often with interim updates |
| Government or regulated buyer | Per the buyer's supplier policy, often audited |
The customer's supplier questionnaire or procurement policy usually states what it accepts. Send it to us and we'll confirm.
Onboarding windows are often short. If your books are closed and reconciled, a review can be completed quickly and an audit within weeks. If you expect to sell to large customers, schedule an annual audit so current statements are always ready when a buyer asks.
Customers usually receive your full statements under an NDA or through a supplier portal. Your CPA report can be shared with them as long as the statements are shared in full. We can also walk the customer's risk team through questions if you want us to.
A 30-minute call about your organization, who needs the report and your deadline.
Scope, report type, timeline and one fixed fee, in writing.
Everything we need, uploaded through a secure portal.
Remote testing, then a draft for your review.
A CPA partner signs, and we walk you or your board through the results.
To confirm you have the working capital, profitability and stability to supply them for the length of the contract. A supplier failing mid-contract disrupts their operations.
Often for smaller vendors. Strategic, sole-source and large multi-year suppliers are usually asked for audited statements. The customer's supplier policy says which.
No. Quality and ISO audits look at your processes. Supplier qualification also includes a financial review, which is where CPA-prepared statements come in.
It depends on your records. With books closed and reconciled, a review can be done quickly and an audit within a few weeks. Tell us the customer's deadline.
We quote one fixed fee in writing before any work starts, based on your size, inventory, locations and whether you need an audit or a review.
Send us the customer's request. A senior CPA will send a fixed-fee proposal within 1–3 business days.