Audit and Assurance
With over 75 years of collective experience among our senior audit leaders and as an independent member of the BDO Alliance USA, HM&M is equipped to help you with any of your audit and assurance needs. Our audit and assurance services include audit, review, compilation, and agreed upon procedures. Some of our experience includes construction, employee benefit plan audits, family wealth offices, hospitality, manufacturing, medical services, not-for-profits, oil and gas, professional services, real estate, retail, and technology.
HM&M’s commitment to meet the highest possible standards underlies our vigorous development of our quality control procedures surrounding our audit and assurance processes. We are a long-standing member of the American Institute of Certified Public Accountants’ Private Companies Practice Section, Governmental Audit Quality Center, and Employee Benefit Plan Audit Quality Center. These memberships ensure we are current on all audit and assurance standards and training in order to provide you with the highest quality service.
We understand that in some cases an audit is a necessity to doing business. Over the last 40 years, HM&M has been successful in performing audits for our clients without paralyzing their everyday workflow. Our goal is to collaborate with you for a swift, efficient engagement.
Some types of audits we perform:
- Private Company Financial Statements
- Private Foundations
- Family Trusts
- Governmental “Yellow Book” Audits
- Employee Benefit Plans
- Nonpublic Common Interest Realty Associations
Audits are performed to provide an objective independent examination of financial statements. An audit includes substantive testing and other procedures in order to verify that financial statements are free of material misstatements. Audits confirm the credibility of information provided by management which then increases user confidence and reduces lender and investor risk. Other benefits include strengthening internal and accounting controls as well as overall business practices. Audits are the highest level of assurance.
Reviews simply provide limited assurance of your company’s financial statements. A review includes inquiries and analytical procedures in order to verify limited assurance, but no substantive testing of the financial statements. This analysis is beneficial when an organization needs some assurance, but not the higher level assurance of an audit.
Compilations do not include an examination of account balances or provide an opinion on the financial statements. Your financial data is used to prepare financial statements that comply with GAAP. Additional accounting needs can also be addressed.
Agreed Upon Procedures
No matter how specific your need, HM&M can assist you with your Agreed Upon Procedures. In this type of engagement, procedures are customized to your needs.
Some examples of these engagements are:
• Due Diligence/Acquisitions
• Prove or Disprove Fraud
• Vote Counts
• Verify Existence of Assets
Employee Benefit Plans
The audit and assurance needs involved with employee benefit plans can be overwhelming. Our staff is highly trained and performs many employee benefit plan audits each year. Learn more about our employee benefit plan services here.
Technology makes it easier
It is our intention to apply technology as often as possible to reduce cost and inefficiencies. We use tools that help us streamline our processes, communicate clearly, and safeguard your information.
HM&M has been providing audit and assurance services for over 40 years. We are proud of the relationships we have built and the internal resources we have to offer. Our highly engaged team is committed to your success. As a client served by HM&M, a member of the BDO Alliance USA, you can benefit from the collective knowledge and experience of a unified team of advisors from the global BDO network and other Alliance firms, coupled with the personalized service and local-firm relationship from HM&M.