Audit & Compliance

Financial Statement Audits

All publicly-held organizations are required by securities laws to make annual audited financial statements available to their shareholders and the general investing public. On the contrary, not all accounting firms are permitted to perform these complex audits due to the associated economic risk. Firms must first register with the Public Company Accounting Oversight Board (PCAOB) and, second, undergo intense inspections every three years by the PCAOB auditors. PKM was providing audited financial statements for public companies long before the Sarbanes-Oxley Act of 2002, when the registration and inspection process began. Since that time, we have continued to audit public companies and are pleased to report that we passed our PCAOB inspection with flying colors, a feat accomplished by only 40% of registered firms, according to Public Accounting Report.

Click here to view our report online.

A financial statement audit is a systematic examination and verification of an organization’s financial statements that reflects the financial health of an organization at a specific point in time. It involves the investigation and analysis of the organization’s systems, internal controls and financial records. The report provides management with a way to measure and compare performance over previous periods and provides investors with reliable information regarding the financial status of an organization. While many organizations dread the financial statement audit, PKM has a reputation among its clients of conducting audits in an efficient and independent style that does not feel adversarial — a significant benefit during a highly stressful time.

Employee Benefit Plan Audit

Employee benefit plans represent an investment in your company by those who know it best – your employees. Just as your public shareholders deserve a reliable and reputable firm to audit financial statements, your employees expect the same level of accountability with regard to their benefit plans. After all, the funds stored in these accounts represent their future well-being. PKM works with companies to ensure that their employee benefit plan audits comply with generally accepted auditing standards and that these companies meet the reporting requirements of the Employee Retirement Income Security Act as well as the timely filing of Form 5500 with the IRS. We are members of the AICPA Employee Benefit Plan Audit Quality Center, a distinction available only to those firms meeting specific employee benefit plan audit requirements.

Preparation of Forms Form 10Q / 10K

Hand-in-hand with the financial statement audit for public companies is the process of filing 10-Q and 10-K forms with the SEC. Our expertise concerning the rules of the SEC can help you with periodic filings. Many organizations choose not to have this expertise in-house. PKM provides a cost-effective solution to complying with these rules.