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Parms + Company has been ECDI’s auditing firm for 3 years and we have been pleased with our working relationship with the firm. As 501(c)(3) that receives in excess of $500,000 of Federal funding per year, this audit is critical to ECDI as it becomes our “scorecard to the world.” - Steve Fireman President Economic and Community Development Institute

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Audit + Assurance

Parms + Company has decades of hands-on experience performing both financial and compliance audits. We know that the business landscape of laws and regulations is complex and ever-changing. By serving a wide range of industries and keeping our team well-educated about the latest accounting and auditing standards, we understand how to get the job done right. Our firm provides compilation, review and audit services to organizations of all sizes. We can quickly compile your financial records into meaningful GAAP-compliant financial statements, offer limited-scope review testing and can deliver complete audit attestation.

Audits


When you are looking for audit services, let Parms + Company provide the independent perspective and careful financial examination that you need.

As a member of the AICPA Governmental Audit Quality Center and the Employee Benefit Plan Audit Quality Center, we have the knowledge and resources to provide you with efficient and cost-effective auditing and consultation services.

Our expertise includes:

  • Financial statement audits (following GAAS)
  • Agency-wide audits
  • A-133 single audits
  • Federal Government Auditing Standards (Yellow Book) audits
  • Limited scope audits

Some of our audit and assurance clients are:

  • Not-for-profit organizations
  • Government entities
  • Colleges and universities
  • Behavioral health care organizations
  • HUD-subsidized multifamily properties
    • Real Estate Assessment Center (REAC) on-line submissions
    • Quality control plans
    • Mortgage loan fraud investigation
  • Small and emerging businesses

Employee Benefit Plan Audits


Need to comply with assurance guidelines for your organization’s 401(K)? Working on a financial report for your employees?

Auditing employee benefit plans is a Parms specialty, including:
  • 401(K), profit-sharing and retirement
  • Defined benefit
  • Defined contribution
  • Employee health, dental, vision and life insurance

Our AICPA Employee Benefit Plan Audit Quality Center membership provides us with valuable information on a variety of technical, legislative and regulatory subjects, which we can then apply to our clients’ employee benefit plan audits to help ensure that they are in compliance.

Click here for some tips from the American Institute of Certified Public Accountants (AICPA) on selecting a quality auditor to perform your employee benefit plan audit.  

Agreed-Upon Procedures


Are existing procedures adequate for control? Are you fully compliant? Are your vendors sticking to their agreements? Parms + Company can tell you.

Consider an agreed-upon procedure (AUP) engagement to evaluate processes, procedures or contracts. We perform AUP engagements that deliver:

  • Mutually agreed-upon objectives and procedures
  • Detailed reports of findings for each agreed-upon procedure
  • A qualified team of auditors with years of experience

AUPs can be applied to any part of your business. How can you benefit from an AUP engagement? By assessing:

  • Health plan compliance
  • Cost reports (examining transactions)
  • Tax provisions
  • Accounts receivable / payable
  • Internal controls
  • Billing processes
  • Subcontractor agreements and vendor contracts
Want to know more about how the Parms team can help you? Contact us.

Parms + Company offers a personal approach to accounting services and shows genuine interest in our business. The fact that we’ve been a client of Parms + Company for 30 years is proof of their quality service. With larger firms, you’re just another client. But not with Parms + Company. They give us exceptional service, and we are happy to continue this successful relationship with them. - Sommerville Funeral Services Akron, Ohio