External Audit | Financial Statement | Internal Audit | Tax Services |

Controllership & Managment | Payroll Tax

External Audit Services

As a licensed independent Certified Public Accounting Firm, White + Samaniego + Campbell, LLP is qualified to audit your company's financial statements. Audited statements prepared by White + Samaniego + Campbell, LLP will include our opinion, as an independent party, stating we have audited the company's financial statements and have determined whether they are free from material misstatements.

How will an audit help your business?

An audit provides assurance of the reliability of the financial statements. It includes the following:

• Financial Analysis: Financial analysis performed in connection with an audit concentrates on identifying trends which can assist management in making more informed business decisions. Identification of a company's strengths and weaknesses will be addressed.

•. Understanding of Internal Control Structure: As part of an audit, we obtain an understanding of your company's internal control structure. As a result, we are able to make recommendations to improve internal controls.

• Management Comments: At the conclusion of the audit, we typically provide management with a "Management Comment Letter" which highlights business recommendations for improvements in operating efficiency and internal controls noted during the course of the audit.

Does your business need audited financial statements?

An audit is often required by an outside party that is providing financing. They need independent assurance that the financial statements accurately reflect the financial condition of the company. You may consider an audit of your business' financial statements in one or more of the following situations:

• The business is in need of additional financing or is considering debt reorganization.

• The owner is contemplating a potential sale of the business.

• Shareholders require an audit to determine the value of the company related to a buy-sell agreement.

• The owner or Board of Directors wants additional comfort offered by an independent third party's opinion on the financial statements.

Occasionally, a business owner needs a service that does not fit the mold of "standard" accounting services such as an audit, review or compilation. We provide services to assist with these needs:

• We will perform agreed upon procedures to a specific financial area.

• We will prepare analytical procedures and ratio analyses.

• We will perform an internal control review.

• We can prepare important financial projections to assess expansion or other investment opportunities.

Tax-Exempt Organizations (Not-For-Profit)

Tax-exempt organizations face unique administrative and business issues not shared by most for-profit enterprises. Partners and associates in our firm are well known as trusted business advisors to exempt organizations, assisting them on a variety of financial, strategic, and administrative issues.

In-depth knowledge of these unique issues, combined with an understanding of each client's mission and purpose, is the benchmark for this practice group.

White + Samaniego + Campbell, LLP can assist your non-profit organization, including charitable foundations, voluntary health and welfare organizations, trade and business associations, religious organizations and membership organizations. Some of our services are listed below:

Agreed Upon Procedures

Performing agreed upon procedures is a process of applying specific procedures to an area of a financial statement or within a specific accounting cycle. When agreed upon procedures are requested, a member of the White + Samaniego + Campbell, LLP team will meet with you to determine what specific goals you are trying to accomplish and the procedures that will help achieve those goals. They are then performed to provide management with an opinion regarding the fairness of information presented. For example, a financial institution could require verification of the amount reported as accounts receivable on a customer's financial statement to ensure that the bank's collateral (accounts receivable) is a viable asset.

SAS 70 Audits

We can help you fulfill your SAS 70 requirements in an effective, cost-efficient manner.

SAS 70 Defined

Statement on Auditing Standards No. 70 (SAS 70) was developed by the AICPA to define the professional standards used by a service auditor to assess the internal controls of a service organization and issue a service auditor's report. This report recognizes that a service organization has been through an in-depth audit of their internal control processes.

Only an independent certified public accountant (CPA) or CPA firm can perform an SAS 70 engagement. Our SAS 70 engagements adhere to the professional standards established by the AICPA. White + Samaniego + Campbell, LLP offers two types of SAS 70's: Type I and Type II. Type I: reports on controls placed in operation as of a specified date. Type II: reports on controls placed in operation and tests operating effectiveness during a specified time, usually 6 to 12 months.

SAS 70 Report - Value-Added Service

An SAS 70 audit can offer many potential benefits to service organizations. The following are a few examples of the many benefits our clients may experience:

• An SAS 70 report allows a company to provide outside parties with independent third party verification regarding the state of their internal controls.

• Undergoing an SAS 70 audit often distinguishes a company over its competitors.

• An SAS 70 report is often accepted by third parties such as customers, customer's external auditors, and regulatory auditors, as a substitute for those parties performing their own audit.

Beneficiaries of the SAS 70 Report

Some examples of service organizations that benefit from an SAS 70 are: insurance and medical claims processors, payroll companies, trust companies, hosted data centers, application service providers and managed security providers among many others. Traditionally, this audit report is primarily used as auditor-to-auditor communication. The auditors of the service organization's customers can use the service auditor's report to gain an understanding of the internal controls in operation at the service organization.

Employee Benefit Plan Audits

One of the most important duties of trustees is to ensure that your company's employee benefit plan not only meets the regulatory requirements of the U.S. Department of Labor and the Internal Revenue Service, but protects the assets and financial integrity of the plan. Your company's reputation and employees' future security are at stake. Our commitment to providing quality audits combined with years of experience ensures that your plan is satisfying the specialized financial, operational and regulatory requirements. The quality of our work guarantees your peace of mind, but at a competitive cost.

Back to top

---

Financial Statement Reviews and Compilations

Financial Statement Reviews provide a mid-level assurance service. A Review consists primarily of inquiries and analytical procedures to provide support for the assertion that the financial statements appear accurate. It is a higher level of service than a Compilation which is described below. Certified Audits provide greater assurance than a Review as there are third party verifications and internal controls taken into account. These are described on our External Audit Services page of this website.

Compilation of Financial Statements

If you need a financial statement prepared by an accountant, we can help. Compiled financial statements are created when we take your trial balance or financial statements and perform some basic procedures, and put them in the proper financial statement format along with our report. When required, we will help generate the financial information or make adjustments to your records in order to get them ready for the compilation. Compilations can either be issued with disclosures or without, depending upon what you and your lenders want. If we prepare your business taxes a non-disclosure compilation can usually be prepared at minimal cost.

Back to top

---

Internal Audit Services

White + Samaniego + Campbell, LLP is focused on ensuring that our clients, while achieving their objective of a solid internal control environment, also analyze and take advantage of the additional structure, order, efficiency, best-practice solutions, and positive bottom-line impact that a sound internal control solution can provide. White + Samaniego + Campbell, LLP is also focused on ensuring the client is aware that sound internal control evaluation and implementation also provides the opportunity for potentially re-engineering business processes to achieve maximum profit margin through further efficiencies.

As with any organization, the quality of client services is in direct proportion to the talent obtained. Our staff performs services for our clients following the fundamental principles of integrity, ethics, vision, quality, and professionalism, and clientele bottom-line impact in relation to a variety of risk-related and technological disciplines.

Internal Control Review

An internal control review concentrates on the organization of the financial reporting structure and processes of the company. This review is different from most other accounting services because it concentrates on the control structure that produces the financial information and not on the financial information itself. During an internal control review, White + Samaniego + Campbell, LLP will study a company to identify its internal control strengths and weaknesses. We will be particularly attentive to weaknesses and explain how these weaknesses could adversely affect the company's ability to record, process, summarize and report financial information. This can be a key service in helping the company prevent losses due to fraud as a result of poor internal control structure. Losses as a result of fraud are often much higher than the costs of evaluating the internal control structure. We will provide recommendations to strengthen internal controls and consequently provide asset protection and assurance that transactions are executed in accordance with management's authorization.

Back to top

---

Tax Services

We provide Tax Services to:

• Individuals
• Corporations
• S Corporations
• Partnerships
• Limited Liability Companies
• Not-for-Profit Organizations
• Estates and Trusts
• Pensions and Profit Sharing Plans

Tax Preparation

White + Samaniego + Campbell, LLP prepares tax returns using the latest and most advanced compliance software for clients in Texas and throughout the United States.

Tax Planning and Consulting

Our practice is not just limited to tax preparation. We also provide assistance to our clients with tax planning, consulting, acquisitions, reorganizations, and business entity structuring, to name a few. We prepare tax projections to help our clients monitor their tax situations and plan for the future.

Representation before the IRS and State Tax Authorities

We represent clients before the IRS and state tax authorities in both examinations and collections. Alternatively, we can work closely with clients' attorneys in these matters.

Back to top

---

Controllership and Management Advisory Services

A business controller is the manager of the accounting department and typically is an experienced accountant, often a CPA. Many small businesses do not need nor can they afford a full-time person with these capabilities. We will provide these services which can include but are not limited to:

• Bookkeeping
• Reviewing a bookkeeper's work
• Assistance in adjusting and closing books
• Payroll Services
• Inventory Analysis
• Cash Flow Projections
• Special Reports Preparation
• Loan Negotiation Assistance
• Bank Reconciliation
• Budget Development
• Strategic Planning
• Mergers and Acquisitions
• Sales and Discontinuations

Back to top

---

Payroll Tax Returns

Although the most common of taxes, payroll taxes and payroll tax law are the most misunderstood areas of tax law. New businesses often pay more penalties and interest related to payroll taxes than any other taxes. Properly recording and remitting payroll taxes and filing all required reports are essential for any business with employees.

We can assist you by setting up a payroll system that will meet all of the reporting requirements and minimize frustrations. We can also assist by providing payroll services to completely remove those burdens so management can concentrate on the activities more beneficial to the business.

Back to top

Legal terms | Copyright White + Samaniego + Campbell, LLP

reified by Home   |   Services   |   About Us   |   Contact Us   |   Careers   |   Exchange