Get Assurance on Your Financial Information
Performed exclusively by The E&A CFO Group’s affiliate, Eckelkamp & Associates, CPAs
Obtain the appropriate level of assurance about the financial information you use and provide to others. Our services are scaled to meet exactly the level of your need, whether that’s a full scope audit, a review, or a specified procedures engagement.
E&A’s approach uses a business perspective designed to focus on those issues really important to your business. Of course, our audits objectively assess the reasonableness of your financial information. But, we also direct the process so it becomes even more valuable by identifying opportunities and providing insight. That includes a separate ”opportunities” letter for your consideration that we discuss in detail with you.
Primary Audit Niches
Our primary niches for audits are not-for-profit organizations and certain employee benefit plans.
Other areas of specialization are Missouri state historic property rehabilitation credit audits and reviews of financial statements.
Audit & Attest Services
- Specified procedures engagement for single purpose reports
- Special purpose audits for historic property and/or rehabilitation tax credits that the State requires
- Historic and rehabilitation tax credit audits for state economic development departments
- Reviews for those not needing a full audit, but wanting some level of assurance
- Full scope opinion audit
- Compiling financial statements for outside users
- Meeting financial institution, regulatory, and grant funding source reporting requirements
Audit Costs
While price shouldn’t be the most important factor in selecting a CPA firm for attest work, prospective clients obviously need to determine which service is most cost-effective needs and budget accordingly. Full-scope audits are, by far, the most expensive service. Reviews are about half the price of an audit. For both, the CPA issues a report regarding the reliability of the related financial information based on the procedures performed. Compilations are much less expensive because the report does not include an attestation on the financial information. As a result, specified procedures engagements are most cost-effective for many organizations because the CPA firm performs only those specific procedures the client requests and the CPA firm reports only its findings from those procedures.
To prevent surprises, E&A sets a fixed price for each client’s engagement in advance. While prices vary widely based on complexity, transaction volumes, attestation risk, etc., the following is a good starting point:
- Audit-Minimum price is $10,000 and pricing can rise quickly. Roughly 75% of E&A’s audits are $10,000-15,000.
- Review-Minimum is $5,000.
- Compilation-Minimum is $1,000 as a stand alone engagement unless it’s part of a larger, bundled business relationship.
- Specified procedures-Roughly 75% of these engagements are $2,000-4,000, however, pricing is entirely based on the scope of work the client requests.