Capaldi Reynolds & Pelosi provides bookkeeping, financial statements and audit services, as well as internal control studies and handbooks, industry benchmarking, and peer reviews. We offer personal attention and a service plan tailored to you and your individual financial needs.
Accounting, audit and financial reporting services include:
Whether you need assistance with day-to-day bookkeeping, check-writing and billing, reconciling bank accounts, or monthly or quarterly checkups, you can trust your work to us.
We convert the financial data you provided into reliable financial statements without providing any assurances or auditing services.
We perform procedures such as inquiries and analytical procedures that will allow us to report that there are no material modifications that need to be made to your financial statements. A review provides more assurance than a compilation, but less than an audit.
Banks and regulators often require audits to gain an added level of comfort over a Company’s internally prepared reports. An audit is performed to provide an opinion that the financial statements fairly represent the company’s financial condition and operating results and involves obtaining an understanding of a company’s processes, information technology, and internal control structure;, and performing in-depth analytics over the company’s data, testing selected transactions and obtaining outside confirmation of certain information. In addition to the standard audit there are some more specialized versions, including:
- Governmental “Yellow Book” audits
- Single Audits (OMB Circular A-133)
- Retirement Plan (ERISA) audits
- Health and Welfare Plan (ERISA) audits
- Agreed Upon Procedures
The AICPA and many state accounting licensers require that CPA firms who issue financial statements get an outside review of their quality policies and procedures and the content of their financial statements in order to ensure that they are meeting professional standards. We have the training and experience required to perform this service for other accounting firms. We embrace the process of quality enhancement and foster the desire to improve processes throughout all firms including our own.
Different than a financial statement audit, a forensic audit targets certain activity such as fraud, theft, insurance recovery, etc. It is used to prepare for use in court and requires specific expertise in litigation support.
Internal control studies are focused on identifying risks of errors and fraud in transaction processing and can take a variety of forms, such as:
- Opinion about the effectiveness of internal control as a result of an audit or a stand-alone engagement
- Opinion on the design of controls
- Report on the internal controls of a service organization (SOC-1)
- Communication of significant deficiencies and material weaknesses in internal control noted during a financial statement audit
Benchmarking performance against that of competitors can help a business establish internal goals, pinpoint market opportunities, exploit competitor weaknesses, and create the kind of esprit de corps to unify and motivate their team.
Accounting manuals contain pertinent accounting rules and other information for a business or organization along with guidelines for various policies and procedures. They also specify duties within the finance and accounting function as well as directions for processing specific transactions so that assets are safeguarded and financial reports are accurate.