Assurance Services in Wayne PA
MGS LLP provides a full range of high quality assurance services with minimal disruption to your business and staff. In addition, we look to identify issues to improve your bottom line. Let us help you with your financial statement reporting needs; whether you require an audit, review, compilation, or agreed-upon procedures.
Regulatory requirements are forever changing, meaning your business is at risk of being out of compliance with new regulations and guidelines. Auditing and assurance services are a necessity in today’s world and can help you remain compliant and proactive in your approach to running your business. MGS LLP with offices in Wayne PA and Radnor PA keeps relevant and up to date on these regulatory changes so that you can focus on running your operations. We offer assurance services that include audits, reviews, compilations, agreed upon procedures and auditing of employee benefits plans for our clients, both for profit and non-profit. So whether your business is held publicly or a private family-owned business, we can help. Give us a call to find out more at 610-688-6162.
Audit and Assurance Done the Right Way
Audits, reviews and compilations require meticulous care and integrity. Our approach to providing our clients these services involves attention to detail and conducting audits in accordance with the professional standards required. While we are diligent, MGS LLP also understands that your time is valuable and we work efficiently and complete things in a timely manner. Assurance services are significantly important undertakings and we take that responsibility very seriously. We are committed to doing things the right way, the first time.
Availability throughout the process of any auditing and assurance services is critical. Our partners are responsive throughout the process and afterward. We work with you to schedule our services based on your calendar and work with you to be as flexible and efficient as we can because we know how much you value your time.
Aside from being certified public accounts (CPAs), MGS LLP has partners that are members of the American Institute of Certified Public Accountants (AICPA) and Pennsylvania Institute of Certified Public Accountants (PICPA). We have decades of experience working with and within businesses to complete audits, reviews and compilations and put in place highly effective agreed-upon procedures.
While it may be required due diligence prior to a business acquisition or a non-profit falling under single audit requirements, our role is to help you understand what services you best need for your circumstances. With offices in Wayne PA and Radnor PA, our partners assist businesses throughout the Main Line and Philadelphia area.
Assurance Services Provided for Main Line Businesses in Radnor PA
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 CPA provides no assurance for compiling financial statements as procedures to verify the accuracy or completeness of the information provided is not performed. The compilation report states that the CPA did not audit or review the financial statements and accordingly does not express an opinion, a conclusion or provide any assurance on them.
An agreed-upon procedures engagement provides the performance of specific tests on financial elements, certain transactions, or other analysis requested by the client. No opinion will be expressed since an audit or review is not performed. However, the results of procedures performed would be presented to the client.
AUDITS OF EMPLOYEE BENEFIT PLANS
We have extensive experience performing full or limited scope audits with a variety of employee benefit plans including large plans with over $2 billion in net assets. We work with plan sponsors to help them understand their fiduciary responsibility and compliance requirements with the Department of Labor and the Internal Revenue Service regulations.
MGS LLP is a member of the AICPA’s Employee Benefit Plan Audit Quality Center which was established to promote the quality of employee benefit plan audits. Our employee benefit plan audit experience includes:
• 401(k) plans
• 403(b) plans
• Defined contribution plans
• Defined benefit Plans
• Health and welfare plans
• Employee stock option plans
• Master Trusts
• Preparation or review of Form 5500
We can also assist plan sponsors in preparation for a plan audit conducted by other accounting firms.
Let us know how MGS LLP can help you