Assurance & Advisory Services

 In light of the risks associated with today's business environment, banks, sureties, investors, and even management look for assurance as to the accuracy and completeness of information they receive from businesses. Assurance & Advisory Services are independent professional services that improve the quality of information for these decision makers.

At Pender Newkirk & Company, our staff, many of whom have national firm experience, have developed knowledge and expertise in consulting, accounting and auditing areas. We look beyond historical financial information to help our clients improve their business and their bottom line.

Our Assurance & Advisory services include:

• Financial Statement Audits
• Compilations & Reviews of Financial Statements
• Preparation of Prospective Financial Statements or Analysis
• Performance of Agreed-Upon Procedures
• Internal Control Reviews
• Mergers & Acquisitions
• Employee Benefit Plan Audit Services

Financial Statement Audits

The premise that all accounting firms are equally capable of performing an audit of your financial statements is far from the truth. Pender Newkirk & Company's auditors are specifically trained in audit procedures and techniques for the purpose of conducting your company's audit with the utmost efficiency. We maximize the use of our clients' accounting personnel to prepare work papers, account analyses, and to assist in the preparation of the financial statements.

Emphasis is placed on performing audit work during the interim periods to decrease the amount of work required at year-end. Our Audit Department is completely computerized, enabling our personnel to maximize the use of their time both in our office and in yours. Communication with our clients through the whole audit process improves the efficiency of the audit. Additionally, our staff is familiar with the highly specialized reporting requirements of our niche industries.

Compilations & Reviews of Financial Statements

Much of what has been discussed above about financial statement audits can be applied to our compilation and review services. Although the level of assurance provided by these services is less, the level of engagement efficiency and communication is exactly the same. These engagements are carefully planned and implemented by staff that specialize in assurance services.

In performing compilation and review engagements we at Pender Newkirk & Company place an emphasis on becoming familiar with our clients' business in order to provide constructive advice and solutions. We want our clients to receive maximum value from our services.

Preparation of Prospective Financial Statements or Analysis

Prospective financial information deals with projected or forecasted transactions. This information may be presented as complete financial statements or may be limited to elements of financial statements or certain analysis of accounts. The format and required disclosure can be different from those of financial statements based on historical information. Our extensive experience in assisting with the preparation and presentation of such information results in a more efficient engagement and assurance that the financial statements conform to all current requirements.

Performance of Agreed-Upon Procedures

There are situations where an individual or business needs a CPA's involvement but does not want a compilation, review, or audit. An agreed-upon procedures engagement is a very customized engagement to perform specific procedures, report the findings, and enhance the credibility of the information. Although agreed-upon procedures are usually applied to historical financial information, they can also be applied to non-financial information and prospective financial information.

Pender Newkirk & Company has extensive experience in performing agreed-upon procedures engagements. The selection of the procedure to be performed is crucial to the effectiveness, credibility and cost of the report. Our experience allows us to assist our clients in the selection of procedures to meet their needs in a cost efficient manner.

Agreed-upon procedures are appropriate for a multitude of situations. Here is just one example. We were engaged by a potential investor to assess the collectibility of a target's accounts receivable, as well as to the accuracy of the inventory information on the target's general ledger. Working with the investor, we selected the procedures, performed the engagement, and produced a report all within a ten-day period and for a cost significantly less than a review or audit.

Mergers & Acquisitions; Buying and Selling a Business

The purchase or sale of a business can be the largest, most expensive, and most complex business transaction undertaken by an individual or company. There are many facets to this transaction that must be fully addressed. A successful transaction requires a team of experienced professionals. Our audit and tax experts have assisted both buyers and sellers in numerous merger and acquisition transactions of varying sizes and complexity. The tax professionals at Pender Newkirk & Company bring value by structuring the transaction for maximum tax efficiency, which can translate to reduced net cash outflow for the buyer or increased net cash inflow to the seller. Our audit professionals can assist with designing and implementing the due diligence process, an extremely crucial element of the transaction. They can also assist in transitioning the financial reporting system of the acquired entity into the operations of the buyer to make the transfer as seamless as possible.

Employee Benefit Plan Audit Services

Our Employee Benefit Plan Services Team is staffed with knowledgeable personnel who are well-informed of the current benefit plan auditing standards, tax filing requirements, and Employee Retirement Income Security Act (ERISA) requirements. Our audit team can provide you with cost-effective audits in a nominal amount of time, while still maintaining the high standards required by regulatory agencies. Pender Newkirk & Company is also a member of the AICPA Employee Benefit Plan Audit Quality Center, a voluntary membership center for firms that meet the AICPA’s requirement of quality standards for employee benefit plan audits.

The PNC Employee Benefit Plan Services Team’s knowledge of the generally accepted accounting principles, Securities and Exchange Commission (SEC) regulations, and general tax requirements specific to employee benefits plans helps our clients by providing a unique level of proficiency and understanding. We are committed to helping our clients administer their benefit plans with the ultimate in confidence and credibility.