Audit, Compilation and Review

Whether an audit, review or compilation, our approach to financial reporting begins with gaining an understanding of your business – its operations, risks, and internal control environment. Our approach and methodologies are risk-based.  We use our industry knowledge in tailoring audit plans and review processes so that we focus our efforts on the accounting issues that are most relevant to your business. Core to our commitment to client service is open communication as we operate in a no surprise environment. In contrast to other firms, we manage our engagements with senior resources, which we believe, enhances the efficiency of our engagement.

Employee Benefit Plan Audits

Regulations surrounding benefit plan compliance become increasingly complex each year. We will provide the expertise required to manage reporting requirements, changes in plan administration, and governmental regulations. For over 15 years, we have offered the employee benefit plan audit knowledge, commitment, and professional excellence plan sponsors need.

You will always work with professionals who are experienced in employee benefit plan audits and thoroughly informed of current issues facing this highly regulated field. We attend the annual AICPA Employee Benefit Plan Conference. All staff are given annual training and regular updates to ensure that the technical demands of employee benefit plan audit quality are met.

We audit many 401(k) plans, employee stock ownership plans, and health and welfare plans, and offer competitive rates and a commitment to providing quality professional service. We have access to significant resources which provides complete design, documentation, and administration services for employee benefit plans. With valuable insights, specialized expertise, and a commitment to benefit plan compliance, we are the best choice for your employee benefit plan audit needs.

Agreed Upon Procedures

Business owners, individuals, and third parties, often engage us to perform an agreed-upon procedures (AUP) engagement to perform specific procedures and report findings.  AUPs are conducted by our audit professionals in accordance with attestation standards established by the American Institute of Certified Public Accountants. Our clients, often at the request of a third party, select the procedures to be performed and accept full responsibility for the sufficiency of the requested procedures. Our report details the procedures we performed and our findings. Examples of AUP engagements include compliance with licensing and royalty agreements, calculations of internal rate of return and other mathematical computations, confirming specific information with third parties, performing specific procedures on work performed by others, and reviewing documents to confirm transactions.

Internal Control Reviews

The right internal controls over financial operations and statements are critical to every business. Failure of a preventative or detective control or a poorly designed control can lead to an increase in monetary losses and.or inaccurate financial reporting.  We help business owners like you understand the strength of your internal control environment using our risk- based review process that identifies areas of risk and improvement. Our engagement process is summarized below:

  • Gain an understanding of the current process and key business risks through interviews and review of documentation
  • Document, as needed, the existing system of internal controls
  • Assess the design and operational effectiveness/efficiency of key controls within the selected accounting related business cycles

We also help our clients design accounting policy manuals, develop job descriptions and responsibilities and create controls to help ensure segregation of duties.