When it comes to attest services, agreed-upon procedures and other special projects, our accountants are well-qualified to prepare independent and comprehensive audits, reviews, compilations and other special projects. In fact, our technical acumen has led to senior members of our team serving in prestigious national roles, such as on the AICPAs’ Auditing Standards Board and its Technical Issues Committee.
But we’re also effective and efficient. We conduct a robust planning phase at the outset of the relationship that allows us to complete the engagement efficiently and in compliance with all applicable requirements. Then we communicate throughout the entire engagement so there are no surprises when we formally present our results to your executive team. Throughout our relationship, our seasoned professionals use a practical eye to apply the latest rules and pronouncements to your situation.
In addition to our technical skill and thorough approach, we believe the real value comes in what you walk away with in addition to your completed financial statement or report. Throughout the engagement, our business-minded team identifies areas in which your company can improve and be more profitable, including tax, operational and business concerns. We arm you with ways to enhance the profitability of both the business and, oftentimes, your own interests. In addition, we provide you with best practices and key metrics obtained from years of experience and the latest industry reports and guidance. We also help your company with other impactful areas, such as agreed upon procedures, audits of employee benefit and 401(k) plans, preparation of forecasts and projections, preparation of monthly financial statements and International Financial Reporting Standards (IFRS).
Our employee benefit plan audit specialists assist plan sponsors in understanding the rules, regulations and responsibilities of offering benefit plans. Our highly trained audit professionals are well-versed in the compliance requirements of defined contribution, defined benefit, employee stock ownership, health and welfare, and profit sharing plans. We follow an audit plan specifically designed to coordinate between the client, third party administrator (TPA) and audit staff. We are also a member of the AICPA Employee Benefit Plan Audit Quality Center.
In conjunction with our Litigation Services team, our audit team assists in assessing your company’s risk of fraud, identifying potential exposure areas, and recommending and helping to improve or implement new controls. If your company believes fraud has already entered the organization, our Certified in Financial Forensics (CFF) and Certified Fraud Examiners (CFE) provide thorough investigations to find the source and help minimize the loss. Our services include those related to criminal fraud, civil claims, insurance claims, misappropriation/tracing of assets, breach of fiduciary duty and internal control evaluations.
There are many instances when an audit, review or compilation may not fit the end goal or just may not be necessary. Our expert attest team regularly conducts agreed upon procedures (AUPs) that can offer you additional assurance on a given project, yet allow flexibility as to the terms and scope of the procedures performed. The AUP results in a report that management can use at its discretion for the business. We assist in determining the procedure(s) that best meets your needs and goals—and then work diligently to execute.
As an independent auditor, Cohen & Company provides service organizations with a formal opinion and critical guidance on internal controls via a Statement on Standards for Attestation Engagements (SSAE) No. 16 report (formerly SAS 70). If your company is a service organization, an SSAE 16 audit report may be required or may be necessary to help establish or reaffirm credibility with your clients. Specifically, we provide you with readiness assessments, as well as Type I Audits and the more in-depth Type II Audits for Service Organization Control Reports (SOC) 1 and 2 reports. We also have expertise in completing SOC 3 reports.