We primarily provide audit services to small businesses, nonprofits,
and other miscellaneous entities. Our approach to this work is a
seamless one in that we attempt to perform this work, in a way that
is not disruptive to client operations and personnel, by proper
planning, and by informing the clients of what to expect, and how
to provide what we need in an organized, satisfactory, and timely
Our reports, when appropriate, include a letter
to management summarizing our findings and recommendations to improve
operations. Our audits are performed in accordance with the American
Institute of CPAs’ generally accepted auditing standards and
other guides when appropriate. "We
stress confidentiality" of client information
and the understanding that we discuss our client affairs only with
the affected clients.
The accounting system generates the financial information necessary
to prepare reports and manage an operation. It also serves as a
system of checks and balances to insure that assets owned by the
entity remain with the entity, and that management policies are
being carried out. We provide technical assistance in the development
and installation of accounting systems, and the preparation of periodic
financial statements. We utilize computers in this work to the maximum
We perform this work in many ways. We go to client
offices on agreed-upon days, or the client will deliver their data
to us monthly or quarterly. We can usually complete and deliver
the financial statements within ten (10) to fifteen (15) working
days from our receipt of the data. "We
understand that the financial information"
that we supply to management permits them to determine whether they
are on track to make or lose money and/or operate within their budgets.
"We also understand"
that in order to make money a business must really know its true
costs, both hard and soft, in order to know how to price its time
or products and not lose money. Accordingly our reports, considering
the industry, will be tailored in such a way that direct and indirect
costs are isolated and highlighted in a manner that will assist
management in identifying out-of-balance costs and making the appropriate
We believe that if you know your true costs,
you will know how to price your products and/or time. If you then
capture your market share, you should not ever lose money.
We provide audit services to commercial, governmental, and individual
clients. All audits are performed in accordance with generally accepted
auditing standards. When appropriate, audits of governmental units
are also performed in accordance with the Single Audit Act of 1984,
OMB Circular A-128 and standards issued by the American Institute
of Certified Public Accountants, the General Accounting Office, and
the particular requirements of the funding agencies. Our reports,
when appropriate, include a letter to management summarizing our findings
Guides We Use for Governmental Auditing:
- AICPA Audit and Accounting Guide, Audits
of State and Local Governmental Units (Chapters 17, 21, 22 and
- The Single Audit Act of 1984 (P.L.
- OMB Circular A-128, “Audits of
State and Local Governments.”
- OMB “Questions and Answers on
the Single Audit Provisions of OMB Circular A-128, ‘Audits
of State and Local Governments’ “ (Issued November
- OMB Circular A-87, “Cost Principles
for State and Local Governments.”
- OMB Circular A-102, “Grants and
Cooperative Agreements with State and Local Governments”
(revised March 11, 1988).
- OMB Circular A-110, “Uniform
Requirements for Grants and Other Agreements with Institutions
of Higher Education, Hospitals, and Other Nonprofit Organizations”
(if applicable) (Note: currently being revised).
- GAO Government Auditing Standards (Revised
and renamed in 1988) (Yellow Book).
- OMB Compliance Supplement for Single
Audits of State and Local Governments (Revised April 1985) (Blue
- Federal Cognizant Agency Audit Organization
Guidelines (Orange Book).
- OMB Catalog of Federal Domestic Assistance
(Reissued each year) (CFDA).
We develop our fees in the same way that we advise
our clients to develop theirs. We determine our overhead costs,
personnel costs, and anticipated profit, and then divide these amounts
by hours worked to arrive at hourly rates. Our rates are very reasonable
in that we compare more than favorably with the general marketplace.
We have been in business over twenty-six years, so our overhead
costs are stable, reasonable, and do not fluctuate inordinately.
We arrive at our fees based on past experience
of the number of hours it takes to perform tasks times the hourly
rate of staff to be assigned to the project. We have differing rates
based on staff levels:
- Staff accountants
- Junior accountants