Our extensive knowledge of federal and state accounting standards, financial regulations, economic stimulus reporting requirements, and information system auditing standards enables CohnReznick to serve the complex compliance and financial needs of government agencies. Under the requirements for auditing federal financial statements — pursuant to Generally Accepted Government Auditing Standards (GAGAS), OMB Circular A-136, Financial Reporting Requirements, Office of Management and Budget (OMB) Bulletin 07-04, and other government audit standards — we perform more than 1,200 Yellow Book audits annually. Our services include:

If your company growth strategy involves overseas business transactions, transitioning to accounting methods based on International Financial Reporting Standards (IFRS) may be recommended. CohnReznick’s global accounting specialists will identify client-specific requirements for moving from U.S. GAAP to IFRS, assess the impact of IFRS adoption on your business, provide IFRS conversion and implementation planning, and, once in place, create financial statement audits and reporting using IFRS standards.

Whether your business is public or private, making sure that your financial procedures and business systems meet regulatory requirements and other compliance obligations is critical to risk management oversight. A systematic compliance audit by professionals versed in the nuances of your industry is critical. Our team conducts a thorough review by first confirming audit scope, then performing a deep analysis of your compliance control systems and procedures. Findings are provided in a comprehensive report that includes recommendations for any corrective actions.

Our specialized SOC practitioners focus on conducting SOC1, SOC2 and SOC3 audits for third-party service providers, while also conducting internal control assessments, attestations, penetration tests, and firewall assessments. Assurance that you have effective controls and safeguards in place to protect sensitive customer data is one of the highest priorities for businesses today. Our proprietary process includes pre-assessment, identification of business-process and IT-control objectives, a thorough examination that identifies issues, and recommendations for improvement in a final SOC report.

Our attest entity, CohnReznick LLP, is registered with and inspected by the Public Company Accounting Oversight Board (PCAOB). The reports on these inspections can be found on the PCAOB website. We are also a member of the Center for Audit Quality of the American Institute of Certified Public Accountants (AICPA), and we undergo triennial peer reviews of our audit and accounting practices.

Our attest entity, CohnReznick LLP, is registered with and inspected by the Public Company Accounting Oversight Board (PCAOB). We perform PCAOB audits on middle-market commercial entities, real estate funds, and registered investment companies that either have periodic reporting obligations with the SEC or are considering an initial public offering (IPO) registered with the SEC. Our SEC Audit practice accepts commercial entities and real estate funds that need PCAOB audit reports because they are considering alternatives to traditional IPOs such as a direct listing in the U.S., a reverse merger with an SEC registrant, or a de-SPAC transaction. It currently does not accept SPACs, SEC-registered shells, or commercial entities that conduct more than 50% of their operations outside the U.S., Canada, and Europe. Entities with significant operations outside these jurisdictions may consider a Nexia affiliate firm to CohnReznick.