Accounting and Auditing ▼
Tax Preparation ▼
Specialized Services ▼
John Gerlach & Company LLP
37 West Broad Street- Suite 800
Columbus, OH 43215
Phone: (614) 224-2164
Fax: (614) 224-1391
- Accounting and Auditing
An audit is the most in-depth financial statement service we provide. Oftentimes, John Gerlach & Company is engaged to perform the audit to help a business comply with the needs of third parties as spelled out in loan agreements, bonding requirements, and/or other regulations. In other cases, we perform audits to help a business develop a track record of reliable financial information for potential investors, financing for expansion or potential merger and acquisition activity. In still other situations, we perform audits as part of sound business practices for use by owners and management.
Audited financial statements add credibility to management's financial representations by giving assurance that the financial statements conform to Generally Accepted Accounting Principles (GAAP). We perform audits of financial statements for clients in many industries.
Employee benefit plans with 100 or more participants are required by the Employee Retirement Security Act of 1974 (ERISA) to have an annual audit.
John Gerlach & Company provides both full-scope and limited-scope audits for defined contribution -- that is, 401(k) or profit sharing -- plans and defined benefit (pension) plans, as well as health and welfare plans. Our extensive experience in this area enables us to perform these audits effectively and efficiently with very little interruption to your normal business operations.
Agreed-Upon Procedures ▼
Often, third parties (e.g., banks, bonding agencies, prospective investors or buyers, regulatory agencies, etc.) require that an independent accounting firm lend credibility to financial information provided to them by your company.
When a company doesn't want or need a full audit or review, a customized selection of procedures (i.e., "agreed-upon procedures") can be performed to satisfy the third party's needs, the company's budget, and the accounting firm's requirements related to expressing an opinion. A representation is made by the company to the third party, and our firm issues a report on the accuracy of only that specific representation.
Examples of such procedures may include verifying the aging of the company's accounts receivable or reviewing the company's obsolete inventory reserve. The representation by the company to the third party is the aging of its accounts receivable or the valuing of its inventory. The accounting firm performs detailed tests to determine the accuracy of the representation, then issues a report to the third party based on its findings.
John Gerlach & Company has performed many agreed-upon procedures and can assist you in meeting the third party requirements.
At John Gerlach & Company, Internal Control Audits are designed to pinpoint operational inefficiencies and opportunities to deliver time savings, strengthen controls, prevent fraud, and increase profits.
Our audits begin with an evaluation of current control practices and risks. Based on this evaluation, we design audit tests to mitigate risks. These tests can include direct confirmation of account balances with third parties such as banks and other financial institutions, customers and vendors. We also review agreement and source documents that support significant contracts.
Detailed Internal Control Audits of the different areas of your business can lead to improvements that go straight to your bottom line. Perhaps you already suspect there's a better way of doing things…there probably is and, in an Internal Control Audit, we'll find it.
Clients who thought they couldn't afford an Internal Control Audit have instead found that they can't afford not to. In the long run, the money you save as a result of cost-cutting suggestions or stronger controls against future fraud, will more than pay for the process cost.
About Our Firm
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