If you are an entrepreneur with a start-up company or the owner of an established small to mid-size family owned business, learn more about our special Core Services team and our customized approach to your accounting, tax, and business needs.
At Sobel & Co. we have made a promise to our clients to provide a balanced approach - blending experience, reliability, integrity and common sense to bring them peace of mind. Our audit and accounting services are at the core of this promise. We deliver:
As an entrepreneur, the president of a well-established family business, the managing partner of a professional services firm, or the CFO of a public company, it is imperative that you have complete confidence in the quality of your audit and unparalleled trust in the skills, experience and integrity of your auditor. Today’s business climate demands a more sophisticated approach - with a critical focus on independence and objectivity.
To provide you with a clear picture of the services we offer, here are some definitions:
What is an Audit?
By definition, an audit is an official, professional, independent examination and verification of a company's financial statements and accounting documents according to generally accepted auditing standards.
Sobel & Co. provides quality auditing services to a range of organizations including closely held companies, non-profit organizations, SEC registrants and employee benefit plans.
While we are extremely proud of our commitment to consistently provide quality auditing services through our association with the AICPA Centers and PCAOB, we recognize that the most significant factor in the quality of service by any Certified Public Accounting firm is the professionals who serve the client. That’s why our partners and staff are trained in applying a value-added approach to the audits we perform. What this means is that we take a personal interest in the objectives of our clients – and we provide them with valuable ideas for increasing operations efficiency, raising profitability and strengthening internal controls. We accomplish this by working in tandem with our clients to understand their risks and goals and by maintaining a continuous and close relationship throughout throughout the years of our association.
Our credentials speak for themselves.
We were among the first firms to register with the AICPA’s Center for Public Company Audit Firms, its Center for Employee Benefit Audit Quality and the Public Companies Accounting Oversight Board (PCAOB) established under the Sarbanes-Oxley Act of 2002. In addition, Sobel & Co. was one of the first members of the American Institute of Certified Public Accountant’s (AICPA) Government Audit Quality Center, a voluntary division of the AICPA dedicated to excellence in nonprofit auditing. As a member of these voluntary groups, our firm has clearly demonstrated our commitment to maintaining the highest quality assurance standards in performing audit and accounting services.
Click here to view our Peer Review letter (downloads a PDF)
What are Accounting Services?
Noun: a-koun’ ting
These services include the bookkeeping methods involved in making a financial record of business transactions and in the preparation of statements concerning the assets, liabilities, and operating results of a business.
Compilation and Review
What is a compilation?
By definition, a compilation is the presentation of financial statement data without the accountant's assurance as to conformity with Generally Accepted Accounting Principles (GAAP).
What is a review?
By definition, a review is an engagement where an accountant expresses "limited assurance" (but not an opinion) about financial statements, based on analytical procedures and inquiries of entity management to obtain a reasonable basis for the limited assurance, while a compilation is a financial statement that presents information that is the representation of an organization's management (owners) without undertaking to express assurance on the financial statements.
Our firm’s audit and accounting services range from write-up assistance to compilation and review of financial statements for organizations at all levels and across a wide range of industries, recognizing that a business needs to have financial statements for its own use - or as a requirement from a third party. Accordingly, Sobel & Co. strives to provide customized services to its clients in the most economical method, offering a compilation or review when an audit is not necessary.
Sobel & Co. understands that, as a practical matter, management is often forced to focus on the day to day issues that affect their business and which can take precedence over attention to accounting issues. We also understand that it is as important for our clients to work on their business as it is for them to work in their business. With this in mind, Sobel & Co. helps our clients reach prudent business decisions based on a combination of sound accounting practices, industry benchmarks and current information regarding new trends and challenges.
What is attestation?
By definition, a written communication by a certified public accountant that expresses a conclusion about the reliability of an assertion that is the responsibility of another party.
Our clients expect us to provide the services that are most valuable for their unique circumstances. As a result, we do not work with a “cookie cutter” approach to their business, but rather spend time with each client identifying their needs and seeking appropriate solutions.
Agreed-upon procedure engagements
Under these circumstances, Sobel & Co. will issue a report on findings based on the performance of specific procedures that are “agreed to” by us and a third party. The scope of the review is based on each client’s unique scenario, and can range from a review of their compliance with loan requirements to a review of the disbursements, their implementation of internal controls or their accounts receivables. In any case, the review helps the client gain assurance that their systems and processes are efficient and accurate.
Forecasts and projections
There are many reasons why a client would require a forecast or projection, whether starting a new business, expanding existing operations or just wanting to follow a consistent strategic plan. A forecast presents a prospective financial statement, based on assumptions that are believed to be the most likely to occur. A projection is often based on a “what-if” scenario, but is not necessarily tied to what is most likely to occur.
Merger and acquisition due diligence
Prior to any merger or acquisition, the management of an organization must perform the necessary due diligence to determine that the information about the company to be acquired is correct, accurate, and properly disclosed. Sobel & Co. is especially effective here as the partners have a depth of experience enabling them to use their expertise in various functional areas. During this process, we work with our clients to determine that all critical issues have been identified and that key assumptions used in the investment proposal are accurate.
We anticipate that while visiting this page you learned something new about the range of audit and accounting services that we offer at Sobel & Co. We are proud of our expertise, but most important, we are proud of the value we add to our clients as they utilize the information we provide to help them make informed decisions for their companies.
Please click on the following areas to learn more about additional Sobel & Co. specialty audit services: