Our Services

Assurance Services

Tonneson + Co provides a wide range of services to a variety of closely-held clients. Our commitment of quality and maintaining the highest level of integrity has been the cornerstone of our firm for over 35 years. Our team goes beyond the numbers to provide our clients with sound advice to improve their business performance and assist them in achieving their business objectives. Our firm is a member of AICPA and the AICPA Employee Benefit Plan and Government Audit Quality Centers.

Since our clients need and demand continuous advice in accounting and tax matters, we are always searching for new and better ways of helping our clients be successful and meet their financial goals. One of the ways we assist our clients is through research and continuing professional education. All members of our professional staff participate in our “in-house” training program as well as attend various American Institute of Certified Public Accountants and various other continuing education courses.

To ensure that we are delivering a valuable end product to our clients, the Firm undergoes peer review examination on our systems of quality controls. We are pleased to report that are firm has received “unqualified” opinions on all of our peer reviews.

We will work with you to determine the appropriate level of service you require. We provide a wide range of accounting and auditing services including:

• Financial Statement Audits
  Conducted in accordance with Generally Accepted Auditing Standards (GAAS) – Tonneson + Co performs audits of financial statements for clients in multiple industries. We are engaged by our clients to perform audits for various reasons including helping our client comply with the requirements of third parties as detailed in loan agreements, bonding requirements and other regulators. Additionally, our client may engage us to perform an audit to help them develop a track record of reliable financial information for potential investors, financing for expansion or potential merger and acquisition activity.
  
  An audit is the most comprehensive examination of your financial records, systems and statements. The audit report assures the accuracy of your completed financial statements.
  
  We provide auditing services for the following:

  • Privately Owned Companies
  • Not-For-Profit Organizations
  • Financial Audits
  • OMB Circular A-133 audits
  • UFR compliance
  • Employee Benefits Plan Audits

  Additionally, we have international relationships in dealing with Global audits.
• Reviews
  Conducted in accordance with Statement on Standards for Accounting and Review Services (SSARS) – A review of a financial statement may be a more economical alternative to performing a financial statement audit in cases where negative assurance meets the needs of the financial statement users. In performing a review of a financial statement, we utilize analytical procedures and inquiry and additional analysis of items which appear unusual.
• Compilations
  Conducted in accordance with SSARS – A compilation involves the collection and presentation of financial information in the form of a financial statement, often times without disclosures required by GAAP. No assurance is expressed in a compilation engagement. For some businesses, this statement is enough to meet managements’ needs.
• Agreed Upon Procedures
  This type of engagement can be customized to focus on specific issues of concern to the user (i.e. the future requirement of an audit). The procedures to be performed are detailed prior to the start of the engagement and as the scope of work is limited to these procedures only, this type of engagement can be a cost-effective way of meeting a client’s needs.
• Financial Forecasts and Projections
  A forecast entails the preparation of prospective financial statements that present the expected financial position, results of operations and cash flows of the entity. A projection differs in that it is the preparation of prospective financial statements that present, given one or more hypothetical assumptions, the expected financial position, results of operations and cash flows of the entity.

Our underlying philosophy in accounting and auditing engagements is to utilize concepts and procedures which will provide for maximum use of client personnel. In this regard, we work closely with our client’s accounting personnel to minimize time spent on work paper preparation. Additionally, our state of the art technology allows us to process the majority of your information while working on-site with your employees. We strive to present accurate information in a timely and professional manner.