Audit & Assurance Services

Accounting Auditing: Worker compiling data

Our firm has licensed professionals that provide an array of audit and assurance services to help clients meet their financial reporting requirements. Our experience includes the following reporting frameworks:

  • United States Generally Accepted Accounting Principles (U.S. GAAP)
  • International Financial Reporting Standards (IFRS)
  • Modified Cash Basis
  • Pure Cash Basis
  • Income Tax Basis
  • Regulatory Basis

Do you need help deciding what level of assurance you need? Click this Guide or contact an audit manager today at 724-934-4880 ext. 301.

Audits

The audit is the highest level of assurance service that a CPA performs and is intended to provide a user comfort on the accuracy of the financial statements. The CPA performs procedures in order to obtain “reasonable assurance” (defined as a high but not absolute level of assurance) about whether the financial statements are free from material misstatement.

  • Financial Statement Audits – We have extensive experience in performing audits of privately held businesses and not-for-profit organizations. Our team is equipped to perform audits under Generally Accepted Auditing Standards, Yellow Book (also known as Generally Accepted Government Auditing Standards (GAGAS)), and the Single Audit Uniform Guidance issued by the Office of Management and Budget.

Holsinger is a firm member of the AICPA’s Center for Private Companies Practice Section, the Governmental Audit Quality Center (GAQC). We support its mission to ensure the quality and integrity of all employee benefit plan audits.

  • Employee Benefit Plan Audits – Our employee benefits professionals participate in frequent, focused training sessions, enabling them to stay ahead of the ever-changing regulatory and compliance environment and to deliver on our promise to continually meet and exceed the highest standards of our profession.

Our Employee Benefit Plan audit experience includes:

401(k) plans
403(b) plans
Profit-sharing plans
Defined benefit pension plans
Health and welfare benefit plans
Full-scope audits
Limited-scope audits
Full or partial plan terminations
Form 5500 and Form 990 or 990T Filings

Did your company’s Employee Benefit Plan trip the participant threshold to require an audit? Contact us to learn more. Generally, Plans with 100 or more participants are required to have an annual audit, as regulated by the Department of Labor.

Holsinger is a firm member of the Employee Benefit Plan Audit Quality Center (EBPAQC). We support its mission to ensure the quality and integrity of all employee benefit plan audits.

  • Grant Specific Audits – Holsinger can provide specialty attestation services when an independent evaluation is needed about whether an entity has met specified compliance requirements of grant, regulations, or similar pronouncements.
  • Specified Element / Royalty Audits – Holsinger can provide specialty attestation services when an independent evaluation is needed about whether an entity has met specified compliance requirements of grant, regulations, or similar pronouncements.

Reviews 

The review service is one in which the CPA performs analytical procedures, inquiries and other procedures to obtain “limited assurance” on the financial statements, and is intended to provide a user with a level of comfort on their accuracy. The review is the base level of CPA assurance services.

Compilations

Compilation of financial statements is a service where the role of the CPA is more apparent to outside parties, and as such, the requirements for performing this service are more explicit. Intended for use by lenders and other outside parties who may appreciate the business’s association with a CPA without requiring a level of assurance on the accuracy of financial statements.

Agreed-Upon Procedures

The agreed upon procedures engagement is available to issue a report of findings based on specific financial statement items or procedures mutually agreed upon with the client, based on specific subject matter.  This is fully customizable to best serve your needs. Agreed-upon procedures are conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

  • Forensic Accounting Services – Holsinger can examine data and records to detect and trace fraudulent transactions, write investigation reports, and provide information for calculation of summarized losses.
  • Internal Control Evaluation Services – Holsinger can provide specialty inspection of internal control policies, procedures, and provide valuable recommendations for improvements.

Peer Review

As evidence of our commitment to build and grow a quality firm, Holsinger voluntarily joined the Private Companies Practice Section of the American Institute of Certified Public Accountants (AICPA). As a condition of continued membership, our Firm undergoes peer review and continually receives the highest evaluation a firm can receive. This continues a tradition of nine successful peer reviews covering a period of 28 years. We provide a minimum of 40 hours of continuing professional education per year for our professional accountants, and perform an annual internal inspection on our engagements. View our most recent peer review report by clicking here.