Audits are the backbone of the CPA profession. McAbee, Schwartz, Halliday & Co. excels at delivering a cost-effective audit. We pride ourselves on starting and finishing the audit on time. From the initial proposal until the time we issue our report, we keep the client informed of our progress and what to expect. Our audit clients include privately held companies, school districts, water systems, city and county governments, and various nonprofit organizations. We invite your inquiry and will be glad to develop a formal written proposal at your request.
Oftentimes, clients think they need an audit when a review will satisfy the lending institution or some oversight agencies. A review is significantly less in scope than an audit and thus less expensive. McAbee, Schwartz, Halliday & Co. will be glad to evaluate your needs to ascertain if a review will meet the requirements placed upon you.
Agreed-upon procedures engagements are not designed to create audited financial statements but to perform specific tests and procedures and report on the results. Such tests and procedures may include: implementation of Federal and State compliance requirements, specific account transactions for certain accounting areas, debt covenant requirements and internal controls. Agreed-upon procedures can be utilized to examine a particular area of a business for weaknesses or inefficiencies. For example, a client may want to determine whether their internal controls are adequate and performing in the manner designed.
McAbee, Schwartz, Halliday & Co. also provides data extraction services (sometimes called "data mining") to test for fraud and/or provide a variety of information for management analysis. Areas that can be tested include payroll, accounts payable, revenue billing, and inventory. We can extend our services beyond data extraction into detail investigation, contribute with fraud policy design, and suggestions for internal control enhancements.
We will be glad to discuss your needs and design a set of appropriate procedures.
Financial Statement Audit Services
- GAAP and Other Comprehensive Basis of Accounting
- OMB A-133 Single Audits
- HUD Audits
- Employee Benefit Plan Audit Services
- 401(k) and 403(b) plan services
- Defined benefit plans
- ERISA/DOL compliance
Financial Statement Reviews and Compilations
- Comparative analytical and ratio analysis
- Organized financial data
- Limited snapshot of company performance
- Compliance reporting
- Debt covenant analysis
- Transaction testing
- Fraud investigation and litigation support
- Internal audit services
- Forecasts and Projections
- Cash flow analysis