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Phone | 517.351.5508
Fax | 517.351.5468
3505 Coolidge Road
East Lansing, MI 48823
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Accounting & Auditing Services | Audit & Assurance

Accounting & Auditing Services | Audit & Assurance

In 2011, a University of Chicago Booth School of Business study concluded that small businesses with audited financial statements secured lower rates with lenders than firms without audited financial statements. Concentrating on over 10,000 privately held firms, the study found that, on average, firms with audited financial statements secured interest rates that were more than half a percentage point lower than firms without audited financial statements.

At Warmels Comstock, our accountants understand that financial statement assurance impacts the decisions of lenders, shareholders, owners, investors and other stakeholders.  We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. Our professionals seek to improve operational performance, strengthen internal controls, minimize risk and assist you in achieving strategic business objectives.

Our audit and assurance services include:

  • Financial statement assurance
    • Audit: An intensive examination with the highest level of assurance
    • Review: Some analytical procedures conducted with limited assurance
    • Compilation: Based upon client information and mainly used internally
  • Financial forecasts & projections
  • Cash flow & budgeting analysis
  • Forensic accounting
  • Employee benefit plans
  • Agreed-upon procedures

Employee Benefit Plans

In addition to financial statement services, Warmels Comstock has a team of dedicated, experienced and professional accountants ready to serve your employee benefit plan audit needs. Our experience includes performing limited scope audits — as defined under the Employee Retirement Income Security Act of 1974 (ERISA) — for employee benefit plans in accordance with Department of Labor regulations. Our CPAs have developed expertise through past experiences — allowing us to understand your unique compliance requirements and perform high quality and efficient limited scope audits.

Requirements for Filing Annual Limited Scope Audits

Generally, when an employee benefit plan has more than 100 eligible participants, an organization is required to attach an audited financial statement to its Form 5500 prior to filing with the IRS. Plans include 401(k) defined contribution plans, defined benefit plans and employee stock ownership plans.

Our employee benefit plan services include:

  • Limited scope audits
  • Defined contribution/401(k) audits
  • Defined benefit plan audits
  • Health and welfare plan audits
  • Preparation and review of form 5500
  • Preparation of form 990

Accounting Outsourcing

Meaningful, well-organized financial records ensure that your daily business operations will run more efficiently and are the foundation of a successful business. Warmels Comstock can provide you with efficient and affordable solutions for monthly accounting, reconciliation and financial statement preparation — while you focus on increasing profits.

Our experienced team can show you how to utilize the proper software to generate financial reports that you can use as a tool for future business decisions.  We can help improve efficiency, reduce training and turnover costs and maximize your accounting software investment.

Our bookkeeping and write-up services include:

  • Install & train staff on necessary accounting software
  • Update and adjust accounting processes and procedures
  • Work with you to develop procedures to reconcile data
  • Provide management reporting tools
  • Assist with budget forecasts
  • Month-end closing assistance
  • Compile financial statements & analysis
  • Bank account reconciliations
  • Accounts payable processing
  • Accounts receivable processing
  • Payroll preparation
  • Payroll tax filings, year-end payroll, and W-2 preparation

Accounting Software Selection & Implementation

Warmels Comstock accountants are also ProAdvisors for Quickbooks and Account Edge accounting software

Our staff of certified ProAdvisors can assist with:

  • Application sales, installation & upgrades
  • Data file set-up & clean up
  • Business process and software consulting
  • Training
  • Third party integration

If you have any further questions regarding our accounting and auditing services or would like additional information about any of our accounting, tax or consulting services, please contact us here.