Accounting and Attestation Services

Accounting and Attestation Services

Business Audits

LLG Audits are Trusted — Good Communication Makes All the Difference

LLG takes a positive approach to business audits. After all, what business owner would not want to know that their business operations and controls adhere to industry best practices? However, more often than not, audited financial statements are required to provide the highest level of assurance to lenders, insurance companies, and investors. In addition, state or federal governments may require a broad range of assurances in order to approve government contracts—assurances that may not be possible without a business audit.

LLG conducts audits of private firms entities in accordance with Generally Accepted Accounting Principles (GAAP). LLG has spent more than 60 years perfecting its auditing best practices to ensure the highest degree of trust and reliability. Audit professionals are equipped with the latest technology, industry guidance and education to ensure a smooth process and high standards. With careful planning and years of auditing experience across a wide variety of industry sectors, LLG consistently delivers on its promise of on-time and on-budget audits.

LLG auditing services are customized to meet the needs of clients and their stakeholders. “We get to know the financial measures that lenders, investors and other stakeholders are most interested in, and we pay close attention to those,” said Bill Finestone, managing partner of LLG.

“Communication skills are equally as important as accounting skills when conducting audits,” added Finestone. “We communicate with your staff in a way that allows us to get the answers we need, while minimizing disruption to your operations.”

Do you need the assurance an independent business audit gives?

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Review and Compilation Services

Different Levels of Service Can Satisfy Your Needs

Privately-owned entities sometimes believe they need an audit, when a review or compilation of financial statements may actually be enough to satisfy their needs. These services are considerably less time-consuming than an audit. They have the added benefit of a lower cost.


A review provides interested parties with a lower level of assurance than an audit, but more assurance than a compilation. During a review, an LLG CPA, following accepted accounting standards, will conduct a battery of analytical procedures such as ratio analysis, or a comparison of results with prior periods or a comparison with industry standards, to gain additional insight into the financial statements. Questions will be asked of management regarding accounting policies and procedures, operations and personnel. However, unlike an audit, a review does not provide for verification of data by a third party or the physical inspection of assets. Internal controls are not evaluated.


A compiled financial statement presents information that is the representation of management or the owners without undertaking to express any assurance on the statements. There are no inquiries of management or analytical procedures. Banks often require compilations from an independent CPA as part of their lending covenants. “Whether you choose an audit, review or compilation depends on the specific circumstances, the requirements of the bank or other parties, and sometimes budget considerations.” –Bill Finestone, Managing Partner.

Find out what’s best for you – a review or compilation report.

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Financial Forecasts, Cash Flow and Budgeting

Anticipate Your Needs and the Market

In today’s tight credit markets, your future financial condition and cash flow needs take on great importance. With information gathered and translated by LLG you can anticipate your future operating results and cash positions. This allows you to identify potential issues and take appropriate action sooner, rather than later.

Financial Forecasts

Market conditions change quickly and privately-owned companies need to stay nimble. LLG can help you forecast your projected business results under multiple scenarios. Possibilities open up. Your response time is faster. You can make the most of market opportunities regardless of economic upturn or downturn. We’ll work with our clients to project revenues, profit margins, net income and cash flows 12 to 24 months into the future.

Cash Flow

You can improve your company’s liquidity, reduce costs and increase profitability through good cash management. Growing companies need to know how to anticipate future cash needs. LLG provides advice based on years of hands-on experience with privately held companies like yours. We help you understand the sources and uses of your cash flow so you can track and project this vital part of your business. “When times are tight, cash flow is key. Don’t spend money unnecessarily. Hold back on distributions until you can afford it. Try not to spend more than the cash you have on hand.” –Sander Berman, Principal


Budgeting can help you predict your cash flows and provide a benchmark to measure results throughout the year. Stay on top of your bottom line by generating comparison reports of budgeted vs. actual results. If you are trying to secure credit for lenders or attract private investors, budgeting demonstrates your road map for success. Capital budgeting analysis can help you examine the benefits, costs and risks associated with potential investments and expenditures. To make an informed decision on what and when to purchase, let LLG run the numbers for you. “Overleveraging can result in missed market opportunities.” –Bruce Horwitz, LLG Principal.

Call for a quote on forecasting, cash flows or budgeting services.

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Employee Benefit Plan Audits

There’s No Substitute for Auditing Experience

Member of Employee Benefit Plan Audit Quality Center

Federal law requires employee benefit plans with 100 or more participants to hire an independent qualified public accountant to conduct a quality audit. This is in accordance with the Employee Retirement Income Security Act of 1974 (ERISA) and U.S. Department of Labor (DOL) requirements. Due to the complexities of these laws, conducting an employee benefit plan audit requires special expertise. A qualified CPA can provide advice on operational efficiencies, asset management, fiduciary responsibilities, litigation avoidance and proper plan administration.

LLG is an Experienced Benefit Plan Auditor

Together, our dedicated benefit plan audit team has more than thirty years of experience. We rely on this experience to conduct your employee benefit plan audit. Changes in regulations, professional standards and best practices require us to master the latest knowledge and training to conduct the audits. LLG is a member of the American Institute of CPAs (AICPA) Employee Benefit Plan Audit Quality Center. Membership requires compliance with rigorous standards and practices specific to employee benefit plan audits. All ERISA employee benefit plan audit personnel must know current standards and practices. LLG has successfully completed all peer reviews since the AICPA’s Peer Review program began.

What You Can Expect

An employee benefit plan audit must be comprehensive to meet standards set forth by the AICPA. You can expect auditors to review payroll records, participant documents, loan plans and hardship withdrawals. Auditors will also determine if plan contributions comply with the document plan provisions. We will evaluate the funding status and methods used for allocated defined plan contributions. “A quality audit can keep employers or plan sponsors out of expensive legal issues with plan participants. Savvy employers/plan sponsors understand the significance of their fiduciary responsibilities to the plan, and don’t cut corners on the selection of an auditor.” –Bruce Horwitz, LLG Principal.

Request a quote from LLG on an employee benefit plan audit.

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Non-Profit Reviews and Audits

Building Trust Within and Outside Your Organization

It is especially important that non-profit organizations maintain the public trust. Such confidence allows them to garner support and pursue their mission. Often a question is posed about whether to conduct an audit or review. Be aware that states differ on their financial requirements for audits or reviews of nonprofits. Check with us to determine what your state requires.


A financial review requires the accountant to gather a series of financial documents to be reviewed. Inquiries and analysis provide assurance that the financial statements conform to generally accepted accounting principles. A review can be used when an organization needs some assurance about their financial statements.


An audit begins with the same steps as a review but following the review the accountant goes to the nonprofit location to verify the accuracy of the documents. – The accountant confirms the data with outside parties – Transactions are selected and tested by examining support documents – Physical inspections are made – Internal systems are evaluated The accountant then takes those findings and presents them to the organization. An audit provides the highest level of assurance expressed in the accountant’s report.

Find out if an audit or review makes sense for your non-profit.

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