Audit & Assurance

Recent News

It Isn’t the End of the World

Most people get very anxious when finding out that the IRS plans to audit their tax returns. While only a small percentage of returns get audited, it helps to be aware of some steps to take to make the process go more smoothly, such as accumulating the necessary information needed, including invoices, canceled checks and receipts.

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DOL Stresses Plan Auditor Experience

As a general rule, employee benefit plans with at least 100 participants must provide an audit report when filing Form 5500. A recent analysis of private audits of Forms 5500 conducted by the U.S. Department of Labor (“DOL”) found that a majority (61%) of the sample either provided flawless audits or those with only “minor deficiencies,” and 39% were “unacceptable.” By DOL standards this high rate of failure is unacceptable. The DOL considers these results as proof of the importance of ensuring that your plan’s audit is conducted by a well-qualified auditing firm.

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IT VULNERABILITY AND CYBER SECURITY MANAGEMENT

It is an accepted axiom of life in the 21st century that we live in an online and interconnected world. Technology is pervasive, and access to the internet and e-mail, whether from PCs, tablets, or smart phones is almost a necessity of modern life. Although online access makes obtaining and sharing information much easier and convenient, it also increases the risk that your sensitive data and information could be compromised (i.e., hacked) by outsiders.

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In today’s ever-changing world of regulatory requirements, audits and assurance services are necessary for you to remain compliant and proactive. At Buchbinder accounting firms of New York, New Jersey and Maryland, we know the changes are complex and require a deep understanding of technical issues, extensive industry experience and an unwavering eye for detail.

We offer audit, assurance services and agreed-upon procedures to non-profit organizations, labor unions, employee benefit planspublic companies, and privately held and family-owned businesses. Our clients come to us for assurances services and audits from New York, New Jersey, Maryland, Virginia, and Washington, D.C., as well as all around the United States.

The Right Way the First Time

Integrity and a meticulous attention to detail is absolutely paramount to us for all of our audits and assurance services. When we are engaged in an audit, we are charged with conducting the audit in accordance with professional standards in a timely and efficient manner. We take that responsibility seriously. We are committed to doing things the right way the first time.

Our partners are responsive and we know how important it is to be available throughout the audit process and beyond. We schedule our audit and assurance services according to your calendar. We strive to be as flexible and efficient as possible because we believe time is of value to you.

Our accounting firm is a member of the American Institute of Public Accountants Employee Benefit Plan Audit Quality Center, the AICPA Governmental Audit Quality Center, the AICPA’s Center for Audit Quality, and we are peer reviewed by the AICPA Peer Review Program every three years. We are often invited to speak on topics impacting employee benefit organizations, labor unions, non-profit organizations, privately held and family-owned businesses, as well as the latest updates to technical standards regarding the accounting and audit and assurance process.

Whether you are required to perform due diligence before acquiring a business, or you are a non-profit organization falling under single audit requirements, we are here to help you gauge what you best need. Our accounting offices in Maryland, New Jersey, and New York offer a range of assurance services such as audits, reviews, agreed-upon procedures, reports on controls at service organizations (SOC 1), as well as compliance audits.

Audit

Audit

Audits don’t have to be a necessary evil. Let us take the pain out of the process. Service is our number one priority. When you need audit services our professionals will work with you every step of the way. We take pride in our extensive technical knowledge, ethical standards and meticulous attention to detail. Whether you need an audit or a SOC 1 report, our team is ready to help you move forward.

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Agreed Upon Procedures
Review and Compilation
Payroll Audits Engagements