Audit Service Line
Our audit service line is responsible for providing assurance accounting and audit services to companies in a variety of industries and varying sizes. We are committed to providing the RIGHT balance of people with the RIGHT experience to ensure that our clients' needs are met in a timely manner. Our clients recognize the importance of receiving reports that meet their required needs but also want input from us on ways they can improve their business/financial operations. We believe it is essential that we match our clients with seasoned professionals from our audit service line to bring the added value that company management and oversight committees want from assurance and audit services.
One thing that can be expected in today's accounting world is change. Accounting standards change annually, and companies are continually challenged with meeting new requirements. We work with our clients to keep them informed about what is changing and what to expect so that they can plan ahead and not leave their financial reports to chance.
We work to understand the purpose of your deliverables so that surprises are minimized and we understand the users of your reports. Additionally, our alliance with BDO Seidman LLP has provided us with the ability to bring expertise from a national firm when needed as well as draw on resources across the United States and internationally.
Audits
Our approach is based on required generally accepted auditing standards as with all CPA firms. Our documentation and workflow is paperless, which makes for a more efficient audit by our people as well as our client's personnel. We focus on extracting information from a company's information systems and use Caseware, Excel and IDEA software packages to analyze and complete our documentation. We utilize a risk-based audit approach which involves a detailed understanding of a company's control environment to understand risks and modify our audit program steps as deemed necessary.
Agreed Upon Procedures
This service is typically based on a specific need company’s specific needs. A company may want some type of assurance as it relates to a specific financial area and/or procedures being followed by its personnel. Another common example relates to acquisitions that companies may consider. As with any good business practice, it is important for companies to do the necessary due diligence to ensure that sound decisions are being made. In these situations, we meet with company management and tailor specific steps to complete for purposes of providing such feedback. These steps are known in our industry as agreed upon procedures which result in a written report.
Sarbanes Oxley 404 compliance
The enactment of the Sarbanes Oxley Act has created both a burden and an opportunity for many companies. Even companies which are not required to comply with this Act may benefit from developing sound governance oversight and internal controls/policies that deliver consistent and effective business practices. We work with both public and private companies in this area to provide the necessary feedback and reporting that is needed. We will tailor a program that meets your needs in the most cost-effective manner.
Reviews
Recent changes in auditing standards have upwardly driven the cost of performing an audit. Alternatively, if the end users of financial statements are accepting of a lower level of assurance, a review report can be issued. The reviews we perform are in accordance with Statements on Standards for Accounting and Review Services. A review is less time intensive than an audit and consists principally of inquiries of company personnel and financial data analytics.
Information Technology Audits
A review and assessment of the information technology environment and the related risks associated with information technology. Information Technology audits are generally conducted in accordance with the COBIT framework, but in certain instances are also evaluated according to other applicable methodologies.
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Accounting Services
The growing trend of complexities in accounting has left many companies understaffed to handle these tasks internally. Additionally, transactions that companies face on either the buy side or sell side have created the need to seek out temporary help in an effort to smooth the waters. We have personnel that are experienced in dealing with such matters and assistance has varied from small research projects to on site extended stays performing necessary operating procedures. Some of the tools we use include IDEA software which allows us to mine data to address concerns such as possible duplicate payment of invoices. We can help you develop an approach that suits your needs.
Industries
Our firm was created in 1986 and over the many years of our existence we have been involved in and worked on engagements relating to a number of different industries. Our experience includes retail/distribution, manufacturing, healthcare/medical device, not-for-profit, construction, high tech, real estate, governmental, education and a variety of service companies.
Manufacturing and Distribution
Our experience includes manufacturers, distributors and retailers with sales of approximately $25 thousand to large operations of more than $200 million. Our special projects include internal control assessments, due diligence assignments, policies and procedures, feasibility studies, budgeting, forecasting and projections.
Not-for-Profit
Our firm has long been committed to providing quality and timely service at a fair price. We have historically provided service to our not-for-profit clients at less than our standard rates as a demonstration of our commitment to the community as a whole. We have always believed that if we can provide the highest quality of services at discounted rates, then we would be providing value to the organizations as well as the people they serve.
A-133
Our firm is a member of the AICPA Government Audit Quality Control center. As a member our firm has made a commitment to quality governmental audits.
Employee Benefit Plans
Our practice in this area continues to grow with the continually increased oversight by regulatory authorities. We are proud to be part of the American Institute of CPA's (AICPA) Employee Benefit Plan Audit Quality Control center and have accepted the challenge of maintaining the requirements to be a member of the center.
Typically, plans with at least 100 eligible participants are required to have an audit completed. Our approach is risk-based and built around the requirements established by the AICPA's benefit plan industry audit guide requirements.
In addition to providing audits, we can provide necessary training to plan personnel in this area. We have people committed full-time to keeping our clients are kept informed about the ever-changing regulatory environment for benefit plans.
Construction
We have performed compilations, reviews and audits for general contractors and sub contractors. Our experience relates to commercial and residential construction.
Please contact one of our dedicated professionals for further assistance:
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