Our audit, accounting, and attestation services cover a broad range of engagements for businesses of all types and sizes. Our extensive experience, coupled with our commitment to staffing all client engagements with highly trained service professionals, means you can count on us to meet your needs and exceed your expectations. When selecting AHP, you can expect quality service and support every step of the way.
REPORTING ENGAGEMENTS
Audit and accounting reporting engagements entail a broad range of services in which some level of assurance is generally expressed (through the issuance of a report) on a document or an assertion made by your organization’s management. The level of assurance expressed, if any, depends on the nature of the engagement. Assurance levels can range from expression of an opinion (as in an audit) to no assurance (as in a compilation). Limited assurance, negative assurance, and agreed-upon procedures are other forms of assurance that can be expressed. The end product of a reporting engagement is a written report issued by AHP.
ACCOUNTING ASSISTANCE ENGAGEMENTS
Depending on the nature of the engagement, these services could be performed in conjunction with a reporting engagement or as a stand-alone service. In an accounting assistance engagement, we assist you with accounting procedures that are typically associated with an entity’s normal accounting function. These services can include procedures or tasks required to record, value, or summarize accounting balances and transactions and the presentation of this information in financial statement form.
Accounting assistance includes assistance with procedures or tasks required in order to record, value, or summarize accounting balances and transactions and to present this information in financial statement form with appropriate information for the notes to the financial statements. Assistance can include performing or assisting with the performance of the procedures or consulting about the procedures. Some examples include assisting with accounting estimates, accruals, and closing journal entries.
BENEFITS:
Accounting services include assistance to supplement your current in-house expertise. Our complete bookkeeping and payroll services for small to medium-sized organizations include, but are not limited to, monthly, quarterly or annual bookkeeping (data entry, journal entries, reconciliations, etc.), payroll processing, business property tax statements, sales tax returns, and payroll returns.
BENEFITS:
During agreed-upon procedures engagements, the firm issues a report on findings based on the performance of specific procedures that are agreed to by the accountant and a third party. The scope of procedures can vary widely based on your needs and what you believe is appropriate.
BENEFITS:
Compiled financial statements is a service where the accountant presents, in the form of financial statements, information that is the representation of an organization’s management (owners) without undertaking to express assurance on the financial statements. At management’s election, the financial statements may be prepared with substantially all disclosures omitted. Common financial statement bases of accounting used for compilations include accrual basis, cash basis, and income tax basis. The accountants’ report is issued, but provides no financial statement assurance.
BENEFITS:
This service results in the issuance of a report on an organization’s compliance with requirements of specified laws, regulations, rules, contracts, or grants. It can also include reporting on the effectiveness of an entity’s internal control over compliance requirements. Compliance requirements may be financial or non-financial in nature. A common example is a single audit of an organization’s compliance with laws and regulations under Government Auditing Standards. Another is an entity’s compliance with provisions of an agreement or contract.
BENEFITS:
We perform limited-scope and full-scope audits of 401(k), 403(b), and other defined contribution plans; defined benefit plans; health and welfare plans; and others.
BENEFITS:
For more information on our Retirement Plan services Click here
Forecasts and projections is a type of engagement that presents prospective information in the form of financial statements. A forecast is a prospective financial statement based on assumptions that are believed to be the most likely to occur. A projection, on the other hand, is prospective information that is based on a “what-if” scenario, but not necessarily the most likely scenario. Different levels of reporting assurance are available for each form of information. An accountant may either examine (basically audit-level assurance), compile, or apply agreed-upon procedures to prospective financial statements. The review level of assurance is not available for prospective financial statements.
BENEFITS:
A policies and procedures manual provides members of an organization with a systematic approach to implementation of policies and work procedures. A properly developed manual conveys management’s philosophies through improved communications, reduced training time, and improved productivity by giving employees authoritative guidance.
This service includes investigation of alleged fraudulent activities as well as assessing your company’s current risk. We believe the best deterrent to fraud is a system of strong controls combined with education about identifying the warning signs of fraud. Since many of the controls that deter fraud can also help prevent unintentional errors, a fraud assessment engagement is a particularly valuable one.
BENEFITS:
FRAUD INVESTIGATION SERVICES CAN:
SPECIFIC SERVICES:
This service is designed as a temporary solution for performing day-to-day accounting functions whether that need is caused by unexpected employee turnover, rapid expansion, or other circumstances. Availability on short-term notice.
BENEFITS:
These engagements encompass the performance of procedures that are normally designed to focus on areas of internal control in more depth than would be expected in a financial statement audit. The scope of the engagement can be narrow or broad.
BENEFITS:
This service ranges from fine-tuning a specific part of your operations to a thorough evaluation of your system’s overall design and operating effectiveness. An organization’s system of internal control includes five components: 1) the control environment, 2) assessment of risk, 3) control activities, 4) information processing, and 5) monitoring. Most organizations have both formal and informal activities within these five areas.
BENEFITS:
The objective of an operational audit is to evaluate and recommend improvements in:
In a typical engagement, which is more than just looking at the financial picture, we start by helping you define your desired state of operations (i.e., where would you like to be). Then we assess the current conditions (i.e., where are you now). Through an interactive process, we help generate ideas for improvements, evaluate the best solutions, and provide you with support during implementation of the solutions. To the extent a particular solution requires training, we can help with that training or offer recommendations for other qualified trainers.
BENEFITS:
A peer review is an engagement where one CPA firm expresses assurance about whether another CPA firm’s system of quality control over its accounting and auditing practice meets the requirements of professional standards. This assurance may be in the form of an opinion on the firm’s system of quality control (a system review) or a report of limited assurance on selected engagements submitted for review (an engagement or report review). System reviews apply to CPA firms that perform audits. Engagement reviews generally apply to firms that perform no audits. Report reviews are limited to firms that perform only compilations that omit substantially all disclosures.
BENEFITS:
Sometimes called a statement of net worth, these are financial statements of an individual and/or spouse. The financial statements are prepared using the fair market values of the individual’s assets and liabilities. Personal financial statements may be audited, reviewed, or compiled. Personal financial statements commonly are used in arranging for financing or estate tax planning.
BENEFITS:
A review is a procedures-driven engagement where an accountant expresses “limited assurance” (but not an opinion) about financial statements. In expressing limited assurance, an accountant states whether or not the financial statements contain material modifications that should be made in order for them to be in conformity with a basis of accounting, for example, generally accepted accounting principles. In a review engagement, the accountant performs analytical procedures and inquiries of entity management to obtain a reasonable basis for the limited assurance.
BENEFITS:
SEC filing engagements are to assist in the preparation of the filing requirements for a public registration or to assist in the preparation of information for inclusion in quarterly or annual SEC reports.
BENEFITS:
A single audit goes beyond the procedures performed in a regular financial statement audit by providing an opinion on an organization’s compliance, in all material respects, with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Uniform Guidance that are applicable to its major federal programs. A single audit also reports on internal control over compliance with requirements of laws, regulations, contracts, and grants applicable to federal programs.
BENEFITS:
System and Organization Control (SOC) reports ensure users of services can trust their provider’s ability to 1) perform the service as promised and 2) protect their confidential data. There are several types of SOC reports available.
SOC 1 – SOC for Service Organizations: Internal Control Over Financial Reporting
Reporting on Control at a Service Organization Relevant to User Entities’ Internal Control over Financial Reporting
This type of report provides a user organization’s auditor with an understanding of internal control necessary to plan and perform a financial statement audit of the user organization. The intended recipients for a SOC 1 report are the user entity’s management and their auditors.
SOC 2 – SOC for Service Organizations: Trust Services Criteria
Report on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy
These reports meet the needs of a broad range of users, and provide assurance on security, availability, processing, confidentiality, or privacy of systems and data. The intended recipients for a SOC 2 report are management of both the user and the service organization, regulators, and other business partners and suppliers.
SOC 3 – SOC for Service Organizations: Trust Services Criteria for a General Use Report
Report on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy
These reports are also intended to meet the needs of a broad range of users and provide assurance on security, availability, processing, confidentiality, or privacy of systems and data. SOC 3 reports do not provide the detailed information contained within a SOC 2 report, and can therefore be freely distributed. SOC 3 reports are often used as part of a service organization’s marketing efforts.
For more information on the various types of reports, visit the AICPA’s SOC Toolkit page.
SOC for Cybersecurity
The most recent report offered by the AICPA’s System and Organization Controls (SOC) framework, SOC for Cybersecurity was developed in response the increasing demand for assurance regarding an organization’s cybersecurity risk management efforts. With the increasing business threats posed by cybersecurity risks, your stakeholders, including management, governance boards, investors, analysts, vendors, and customers need information and assurance regarding the measures your organization takes to manage cybersecurity risks. This report provides a common language that allows your organization to communicate about your cybersecurity risk management program.
Terms & Conditions | © AHP – All Rights Reserved | Crafted by OhnoDesign.com
