Audit & Assurance Services
Otrando, Porcaro & Associates, Ltd. provides thorough audit and assurance services to ensure accuracy and reliability of our client’s financial statements. Key functions of our A&A department include:
- Audits: Conducting thorough procedures on financial statements to evaluate their freedom from material misstatement and compliance with applicable regulations, accounting standards, and reporting frameworks
- Reviews: As a step down from an audit, conducting procedures to evaluate providing limited assurance that financial statements are in accordance with applicable financial reporting frameworks
- Compilations: As a step down from a review, conducting limited procedures and assisting in the preparation of financial statements without providing assurance
- Attestation engagements: Conducting procedures to evaluate providing assurance on specific assertions made by management, such as compliance with regulations, internal controls, etc.
- Agreed-upon procedures: Conducting specific procedures on subject matter and reporting the findings without providing an opinion or conclusion
- Internal control analysis: Conducting procedures to evaluate and recommend improvements to internal controls to enhance efficiency and reduce risk
Specialized functions of our A&A department include:
- Serving for-profit and non-profit entities: We are not limited in serving the various industries and business structures that our clientele consists of
- Single Audits: Comprehensive audits required for non-federal entities in the U.S. that expend more than $1,000,000 in federal funds during a fiscal year
- Government Auditing Standards (Yellow Book) audits: Audits conducted for government entities and entities that receive government funding
- Employee benefit plan audits: Specialized audits conducted for employee benefit plans, such as pensions, 401(k) plans, profit-sharing plans, etc.
- Forensic accounting: A specialized field that combines accounting, auditing, and investigative skills to examine financial records and transactions. The goal is to uncover and analyze financial crimes, such as fraud, embezzlement, and money laundering
- Litigation support: A range of services designed to assist legal professionals in preparing for and managing legal cases. These services help streamline the litigation process, improve efficiency, and enhance the accuracy of case preparation
- Due diligence: A comprehensive process of investigation and analysis conducted before entering into an agreement or transaction. It aims to ensure that all relevant facts and risks are identified and understood
Our A&A department structure includes firm ownership, directors, managers, and staff, who collaborate closely with clients throughout the year to provide timely and effective services and we integrate the most modern levels of technology to enhance engagement efficiency and quality.