Thomas Howell Ferguson P.A. CPAs has extensive experience performing financial review and construction audit services for commercial entities of all sizes and complexities, serving general contractors and sub-contractors. These services include preparing financial statements in accordance with generally accepted accounting principles, governmental auditing standards, governmental compliance requirements, OMB Circulars, and state statutes.
In addition to our construction audit services, we also perform tax work for construction companies. Explore our tax consulting services if you are looking for high-level tax consulting in the areas of private inurement, website compliance, and charitable giving rules.
Our commercial clients range from small, local companies to very large, multi-entity, multi-location, and multi-million dollar corporations. This experience has helped us to effectively identify the necessary engagement structure, efficiently plan engagement timing and performance, and readily adapt our approach for regulatory and operation changes.
Does your company need a construction audit or a review? Our expert team will help you determine which route is best for you. Which level of service (audit or review) is right for you will depend on the complexity of your business as well as what your bonding company requires. Surety compliance is a common reason to need an audit or a review, and with our help you can check that box and get back to what you do best: construction.
An audit provides an opinion that the financial statements are presented fairly, in all material aspects, in conformity with the applicable financial reporting framework. A construction audit provides a high, but not absolute, level of assurance. (The assurance relates to the financial statements taken as a whole.)
An accounting review provides a report, not an opinion, stating that the accountant is not aware of any material modifications that should be made to the financial statements to be in conformity with the reporting framework. Reviews provide a limited level of assurance. A bond review is substantially less in scope than a construction audit and there is no requirement to obtain an understanding of internal controls, access fraud risk, or test accounting records.
The working relationship between our audit and tax personnel provides our clients with a team of professionals that can deliver the proactive and timely advice needed to make key decisions. We provide a strategic advantage through our responsiveness to questions and concerns, depth of technical knowledge and experience, and utilization of a diverse collection of resources.
Our alliances with RSM US Alliance and CPAmerica give us access to 150 U.S. accounting firms and their more than 20,000 professionals, along with access to the professionals of the two national tax offices within RSM US and Crowe Horwath, LLP. This access is extended to our clients, while the point of contact within our firm remains the same.