Audit and Assurance

As a full service accounting firm, Nicholas and Robison Accounting, Inc. provides a range of attest services including audits, reviews and compilations.

HUD Multi-Family Housing Project Audit

The rules and regulations of HUD are complex and unique for Section 232 and 236 Housing Projects.  Our knowledge and expertise of HUD can help you navigate these complex rules and regulations.  Our audit solutions and knowledge of HUD will help you keep your project in compliance and in good standing with HUD.

California Department of Business Oversight Escrow Audits

For most escrow companies, the required Department of Business Oversight (D.B.O) financial and compliance audit is an expensive and time-consuming process.  Not only is the audit required annually, the audit procedures required by the D.B.O. are complex and unique.  CPAs that are not experienced with these requirements will take longer to correctly perform the audit and may charge you more.  Our knowledge and experience can help you avoid potential costly delays.

California Department of Social Services Audits and Reviews

California Department of Social Services (CDSS) required financial statement reviews for all vendors receiving over $250,000 from the California Regional Centers (CRC) and financial statement audits for all vendors receiving over $500,000 from CRC for years before 2016.  Starting for audits of 2016 year ends  CDSS requires financial statement reviews for all vendors receiving over $500,000 from the California Regional Centers (CRC) and financial statement audits for all vendors receiving over $2,000,000 from CRC.   These types of audits and reviews require that the auditor understand the particular types of services being provided by vendors to CRC and the peculiarities of the rules and procedures evolving as these review and audit requirements come into play for vendors of CRC. Our firm is at the forefront of providing these audits and reviews; having done multiple reviews and audits in this area.

Mortgage Banking

Reviews and Compilations

Certain governmental entities, lending institutions and investor groups may not require an audit but will accept a lower level of assurance, in which case Review, Compilation or other Attestation services might be a better choice for you. We bring our personal attention to every engagement, working side by side with management to first assist you in determining which engagement type is the most beneficial or necessary to satisfy requirements, when a full audit isn’t the goal, and then deliver in a timely manner.

Reviewed Financial Statements

A review is substantially less involved in scope than an audit and is an engagement where no opinion is expressed regarding the financial statements as a whole. Rather, a review engagement primarily uses analytical procedures on the financial data presented and includes making various inquiries of management. The procedures we perform provide “limited” assurance that there are no material modifications that should be made to the financial statements. Reviewed financial statements include full footnote disclosures. When a review is the right choice:

  • Government entities, investors or lending institutions require a limited level of assurance but do not require an audited financial statement.
  • You want a certain level of comfort that analytical procedures and inquiries from a quality firm can provide.
  • You need a CPA’s technical expertise without the work or expense of an audit.
  • You require a report from an independent certified public accountant.

Compiled Financial Statements

A compilation is performed to assist management in presenting financial information in the proper form but where no assurance is provided that there are no material modifications that should be made to the financial statements. When a compilation is the right choice:

  • A clean presentation of financial data is needed but no assurance as to the accuracy of the information is necessary.
  • Management prefers to show only the financial statements and not include disclosures required by a review or audit engagement.

We are already providing accounting assistance and are not independent.