Accounting & Assurance
Clear and concise financial data is a prerequisite for businesses to grow. We are experts in compiling, presenting and reviewing detailed financial and employee benefit information that accurately reflects a company’s fiscal health, assures compliance with industry-specific regulations, and provides an outline for continued success.
A trusted and professional accounting firm provides the vital components to a company’s growth plans. Gallagher, Flynn & Company (GFC) makes its responsibility as an accounting firm its top priority. We have a long history of producing detailed, timely, and accurate financial statements across a wide variety of industries. Working as an integral part of your team, we can help shape future budget directions that are appropriate for use by the board of directors, creditors or investors. Our expertise extends well beyond balance sheets and P&L statements. We offer more extensive auditing and accounting services that provide in-depth analysis and give businesses the knowledge and insight they need.
Financial Statement Audits, Reviews, and Compilations
GFC provides a full range of assurance solutions designed to provide you with the accuracy, integrity, and confidence to operate and grow organizations of all sizes.
Our most comprehensive service, a financial statement audit offers the highest level of assurance for shareholders and management. We observe, test, confirm and independently verify your financial information, then help draft or audit your financial statements. This work is culminated through a detailed letter to management outlining the findings and in many cases recommendations on internal controls, processes, and best practices to empower your organization.
Financial statement reviews provide limited assurance but can be a cost-effective alternative to a full financial statement audit. We systematically analyze and inquire about the information you provide to gain a firm understanding of your organization to provide key stakeholders with the financial data required to make informed business decisions.
Your organization’s financial information is compiled into acceptable industry formats, which may include explanatory footnotes and/or disclosures offering a high-level point of view to your organization at the lowest level of assurance. Compilations are a useful tool not only at the organizational level, but also at the specific product / service level to evaluate profitability, expenses, etc.
Employee Benefit Plan Audits
Employee benefit plan (EBP) audits are a responsibility we take seriously. We have developed a seasoned employee benefit plan audit team that performs more than 60 benefit plan audits annually for a number of leading companies. Members of the AICPA Employee Benefit Plan Audit Quality Center, our EBP auditors complete specialized training to ensure they are well-versed on the latest technical and financial requirements.
Our range of services include but is not limited to:
- 401(k) Audits
- 403(b) Audits
- Defined Benefit Audits
- Employee Stock Option Plans (ESOPs)
Not-For-Profit (NFP) Audits:
GFC provides a broad range of value-added services to entrepreneurial, mission-driven, not-for-profit organizations and their leadership. We understand the unique challenges of building human and technological infrastructure, developing reliable and consistent funding mechanisms, maintaining a strong cost control culture, and creatively navigating the tax code.
We have designed our services to meet the needs of not-for-profits ranging from value-added audits of general purpose financial statements, including audits of organizations that receive significant federal funding, to consulting services that build strong accounting systems that enhance the value and usability of financial data to internal and external stakeholders. In short, it is our mission to help you achieve yours.
Other Accounting Engagements
We go well beyond the numbers and provide technical accounting assistance in complex areas such as revenue recognition, acquisition accounting, cost accounting, software development costs, equity transactions, and implementation of new accounting standards.