With over 70 years of serving audit and assurance clients, we know that many companies view the compliance process – and audits – as necessary evils. At LaPorte, when audits are necessary, we also recognize them as opportunities to bring real value to our clients.
Members of our Audit and Assurance Services practice accomplish this by keeping abreast of regulatory changes, communicating these changes to their clients, gaining valuable accounting information during the audit process, and sharing it with their clients.
This information can be important in helping management:
- Identify areas of risk
- Improve efficiencies
- Implement best practices
- Develop benchmarking
- Forecast financials
At LaPorte, we hold ourselves to high standards by participating in annual continuing professional education; staying up to date on regulatory and legislative developments; and maintaining memberships in industry quality control organizations, such as the Center for Audit Quality and Public Company Accounting Oversight Board. We also comply with the AICPA’s quality control requirement for peer review of our accounting and auditing practice.
Our assurance and consulting services to clients of all sizes and across industries including, among others:
- Audits, reviews, and compilations of financial statements
- Agreed-upon procedures
- Audits of federal awards programs (compliance with Uniform Guidance)
- Employee benefit plan audits
- IT audits, reviews, and evaluations
- SOC 1® and SOC 2® reports, including Type 1, Type II, and readiness assessment engagements
- SOC 3® reports
- Due diligence for mergers and acquisitions
- Internal control studies and evaluations
- IT process design, evaluations, and risk assessments
- Reviews of quarterly filings for public companies
LAPORTE AUDIT AND ASSURANCE SERVICES OVERVIEW
(authored by RSM US LLP) For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
(authored by RSM US LLP) Proposed improvements to leases guidance on related party arrangements
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update
(authored by RSM US LLP) The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.