Whether you are a sole-proprietor in need of a compiled financial statement for your business, a publicly-held business in need of an audit in full compliance with SEC Rules and Regulations or any of various levels in between, RRBB’s Assurance Services Group is qualified, interested and well experienced to filling your needs.
Almost every organization at some point, whether it’s publicly owned, privately held, or not-for-profit — has to report how the organization is doing financially. These reports help investors and creditors evaluate the business and help owners make management decisions. RRBB has conducted assurance services for both public and private U.S. companies, U.S. subsidiaries of foreign owned companies, U.S. companies operating abroad, and a wide variety of not-for-profit organizations and for international companies both foreign and U.S. owned. We are familiar with the reporting requirements of various specialized industries as well as governmental audit and reporting requirements. In addition to financial statement reporting, RRBB Accountants and Advisors provides specialized reporting such as agreed-upon procedures, royalty and lease audits and fraud examinations.
An audit provides the highest level of assurance on a company’s financial statements. In an audit, the CPA firm examines financial statements by conferring with outside parties, completing physical inspections and observations, and testing selected transactions by examining support documents. An audit provides assurance that the “financial statements are free of material misstatement and are fairly presented”. An effective audit should also add value by providing practical suggestions to strengthen internal controls, improve operational efficiency, and enhance systems and procedures.
RRBB’s Assurance Services group will work in combining our strategic understanding of today’s competitive business environment and our experience in evaluating the business risks you are faced with. We look to add value in the audit process with our in-depth analysis of your financial statements and providing practical suggestions to strengthen internal controls, improve operational efficiency, and enhance systems and procedures.
A review provides limited assurance that no material changes are needed to the financial statements. A review is useful to management and others who want a “does it make sense?” analysis. Our review process typically begins with our gaining a good understanding of your business. We would then look to obtain an understanding of your accounting and business systems, through discussions with members of your management team. Then discussions about timetables, lists of information required and all else needed for the review procedures. In the review process, constant communication with our clients enables an efficient and effective review, with no surprises. And before finalizing, we will review a draft with you and obtain approval.
A compilation of a financial statement is not designed to provide assurance on the underlying financial numbers but to reflect the performance and financial position of an organization. The CPA firm takes the numbers provided by the client and puts them in financial statement format. Because there is no analysis, the CPA firm is not allowed to render an opinion or any other form of assurance.
RRBB’s Assurance Services Group will meet with you to discuss your organization and the needs for the compilation and its timetables. We will provide you with a list of the information and schedules that we will need to perform the required compilation procedures. And at the conclusion of our compilation, we will review a draft of the financial statements with you and obtain your approval.
If you are in need of an independent, experienced accounting firm to execute and report on specific procedures, we are very skilled in providing this level of assurance service. Typically we are engaged to assist a specified party in evaluating subject matter or an assertion as a result of a need or needs. Because the specified parties require that findings be independently derived, RRBB’s Assurance Services Group is brought in to perform procedures and report findings.
In addition to senior management of enterprises, many of our agreed-upon procedures engagements are performed at the request of third parties, such as lenders, potential acquirers of companies, lessors, boards of directors, etc.
SEC/Public Company Services
Our RRBB Assurance Services Group has extensive expertise in the area of SEC regulation and reporting. We provide consulting, auditing, and accounting services to a number of publicly held corporations. Our experience includes registration and reporting requirements under the Securities Act of 1933 and the Securities and Exchange Act of 1934 as well as researching and resolving SEC comment letters.
In today’s highly sensitive compliance and reporting environment, many public companies require an experienced and proactive advisor to assist them with financial reporting, tax, and accounting matters. Under the regulations of the SEC and Sarbanes-Oxley, public companies’ external auditors are precluded from performing many of these services.
RRBB Assurance Services Group has a great deal of experience in this environment, providing us with the resources to assist our non-audit clients with:
- Accounting and reporting of current and new accounting pronouncements
- Reading and commenting on the company’s quarterly and annual financial statements prior to submission to your external auditors
- Reading and commenting on other information included in SEC filings
- Assistance in technical accounting areas, such as income taxes and share-based compensation
- Assessment over key accounting assumptions and practices
Our team will provide you with the expertise, manpower and efficiency you need to be in a position of strength. As a firm registered with the Public Company Accounting Oversight Board, RRBB is among the firms nationwide that are required to meet the highest level of quality standards within our industry in order to comply with the Board’s requirements and inspection process.
For over 30 years RRBB Accountants &Advisors has been assisting clients in the expansion of their capital structure through private placement offerings, bridge loan financing and initial public offerings (IPO’s). As members of the American Institute of Certified Public Accountants’ SEC Practice Section, we are familiar with the Securities and Exchange Commission’s Rules and Regulations governing public companies.
Over the years we have consulted with small to medium sized companies who wish to go public. Our approach goes beyond providing advice on the necessary audit, accounting and disclosure requirements. We advocate the formation of an “IPO Team” which consists of the client, the SEC attorney, the underwriter and members of our skilled SEC group. Working as a team, the project has the ability to move along efficiently with all parties contributing their skills and experience towards the Company’s goal of achieving public company status.
Not all companies, however, are ready or interested in “jumping-in” to the IPO arena. They may wish to explore other avenues of capital expansion such as private offerings, or they may feel they are not ready to “go public” at the present time and need interim bridge finance—or any combination of these or other methods of capital/financing arrangements. Whatever your Company’s needs, we have the expertise and familiarity with all of the facets that play a part in making a decision on which path is best for you and your Company. Our skills, developed over the years with companies in similar situations with comparable motivations, enable us to assist our clients through the maze and achieve the desired financial goal.
Once “public”, our job is not over. There are ongoing needs of the public company in the areas of financial reporting and disclosure. We take a proactive approach to providing our clients with advice and counsel on emerging issues affecting their financial and other reporting needs. Some of the ongoing services that we provide our clients:
Initial Public Offering (IPO)
- Form S-1 registration statements
Periodic SEC Reports
- Annual Form 10-K reporting
- Assistance with Form 10Q quarterly reporting
- Assistance with Form 8K requirements
Private Placement Offerings
- Assistance in the development of the private placement memorandum
Bridge Loan Financing
- Assistance in the development of the information package as required by the lender
Our firm is comprised of partners and staff who care about the future growth and stability of your Company. The challenges that you will be presented with when and if you make the decision to take your Company public will need to be sorted out by a team experienced in these complicated matters. If you care enough about your business to dedicate yourself to its growth and success don’t you feel the professionals that you work with should be as equally committed? We are—and we would like to take the opportunity to show you how we can work together to take your business to the next level.