EP audit and assurance services provide organizations, whether they are privately-owned businesses, governments, or not-for-profits, with an independent, fresh perspective into their businesses. Our services enhance stakeholders’ trust in the organization’s financial reporting and compliance with applicable laws and regulations.
Financial Statement Audit, Review, and Compilation
Financial statement services are one of the most critical areas needed or required by organizations for their operational and compliance environment. When you engage EP to provide financial statement services, we also advise and assist you in achieving both your short and long-range goals, through innovative and practical consultation with you and your management team, identifying needed areas for improvement, and an implementation plan.
Operating a business, not-for-profit, or government agency can mean providing regular reports about the organization’s financial condition and operating results to investors, lenders, donors, and other stakeholders. Depending on the needs of your financial statement users, you may need to report under different sets of standards or provide varying levels of detail and assurance. With EP, you will receive a risk-based approach that promotes timely communication and coordination that is tailored to your organization’s needs and goals. EP’s senior-level professionals pride themselves in partnering with management in this process as we realize that there is no one-size-fits-all approach.
An audit provides the highest level of assurance that includes a review of internal controls, evaluation of fraud risk, testing of selected transactions, and communication with third parties. A review provides limited assurance which consists primarily of the analytical procedures.
We apply to the financial statements and various inquiries.
We make of your management team.
A compilation provides no level of assurance in which we assist management to present the financial statements in the proper form.
Employee Benefit Plan Audits
EP provides audit solutions to help businesses with 100 or more eligible participants maintain the right mix of benefits for their employees. Audits of employee benefit plans are unlike other financial audits. It requires a thorough understanding of the plan’s environment, the ability to navigate complex laws and regulations, and specialized training in performing auditing procedures. Assisting you to stay in compliance and avoiding potentially significant penalties are an essential part of our services.
EP is a member of the AICPA Employee Benefit Plan Audit Quality Center.
Guidance provided by a compliance audit can help you reduce your risk, while also avoiding potential legal trouble or federal fines for noncompliance. A compliance audit is a comprehensive review of an organization’s adherence to regulatory guidelines. Audit reports evaluate the strength and thoroughness of your internal control and processes to ensure that standards and regulations are met.
EP Single Audits for entities such as local and state governments, special districts, not-for-profit, and contractor organizations, who receive and spend federal dollars over a certain thresh hold.
EP is qualified to perform the annual compliance audit required by the DMV for companies that participate in the DMV’s Interstate Carrier Program.
Yellow Book Audits
Anytime a law, regulation, or policy calls for an audit in accordance with Government Auditing Standards, you need a Yellow Book audit, which includes additional requirements on top of regular auditing standards. EP prepares and provides Yellow Book compliance audits.
EP is experienced in the conduct of: