GoldWiseman CPAs provides audit and assurance services for businesses and organizations throughout Chicago that need reliable financial reporting, independent assurance, and experienced CPA guidance.
We help organizations address financial reporting requirements while also strengthening the accounting processes, documentation, and controls behind the financial statements.
An audit is more than a year-end examination of financial statements.
The quality of the audit process depends heavily on the accounting records, reconciliations, supporting documentation, internal controls, and financial reporting processes maintained throughout the year.
GoldWiseman works with Chicago businesses and organizations that need audit and assurance services as well as organizations preparing for an external financial statement audit.
Our approach combines CPA expertise with a practical understanding of the accounting systems and financial operations that produce the numbers being examined.
Businesses and organizations may require financial statement assurance for lenders, boards, investors, grantors, regulators, contractual requirements, or other stakeholders.
GoldWiseman helps clients understand the financial reporting and documentation requirements involved and prepare their accounting records for an efficient assurance process.
Our broader capabilities include:
Many audit difficulties begin before the auditors arrive.
Unreconciled accounts, incomplete schedules, unsupported balances, inconsistent accounting treatment, missing documentation, and year-end adjustments can increase the time and effort required to complete an audit.
GoldWiseman helps organizations prepare their accounting records and supporting documentation before the audit process begins.
Audit preparation may include reviewing account reconciliations, organizing supporting schedules, evaluating financial statement accounts, identifying documentation gaps, and helping management address accounting issues before they become audit delays.
Chicago nonprofit organizations may face financial statement audit requirements arising from funding arrangements, government grants, lender requirements, organizational policies, or regulatory requirements.
Nonprofit audits can also involve accounting issues that are less common in traditional commercial businesses, including restricted funding, grants, program expenditures, contributions, and board reporting.
GoldWiseman provides nonprofit accounting, audit preparation, financial reporting, grant compliance, and audit services designed around these financial environments.
A smoother audit often begins with stronger accounting throughout the year.
Accounts should be reconciled regularly. Significant transactions should be supported by appropriate documentation. Financial statements should be reviewed before year-end. Differences should be investigated rather than carried forward indefinitely.
GoldWiseman can work with management and internal accounting teams to improve these processes before an audit begins.
Organizations needing broader accounting support can also use our outsourced accounting, controller, and financial reporting services to strengthen the financial infrastructure supporting the audit process.
Financial reporting requirements may be the immediate reason an organization seeks audit or assurance services, but the process can also highlight broader financial management issues.
Questions may emerge around internal controls, account reconciliations, financial reporting processes, accounting policies, documentation, or the quality of information available to management.
Addressing those issues can improve more than audit readiness. It can provide leadership with more dependable financial information throughout the year.
GoldWiseman's broader accounting and advisory capabilities allow organizations to address these issues as part of their overall financial function.
GoldWiseman serves organizations across industries with different financial reporting requirements, operating models, and accounting challenges.
Our industry experience includes healthcare, Federally Qualified Health Centers, nonprofit organizations, real estate, construction, professional services, manufacturing and distribution, restaurants and hospitality, and other privately held businesses.
Understanding the organization behind the financial statements helps provide context for its accounting systems, financial reporting, and assurance needs.
If your organization requires audit or assurance services—or needs help getting its accounting records ready for an upcoming audit—GoldWiseman can help evaluate the financial reporting, documentation, and accounting work required.
Our audit and accounting capabilities can support both the immediate reporting requirement and the financial processes behind it.