If you are a publicly traded company and need an accounting firm, a Google search using the search terms “public accounting firms near me” is a good start. However, not every accounting firm nearby or down the street can provide the services you need, especially if you need a PCAOB audit. Read on to learn how to find the best public accounting firm to help with your public company audit.
Are You Searching “Public Accounting Firms Near Me”?
Publicly traded companies need to complete PCAOB audits to prove compliance with strict regulatory boards and provide clarity for investors. If you need a PCAOB audit but are unsure where to start, you may search “public accounting firms near me” in Bing or Google. This can give you a list of potential accounting firms in your area. However, you must research and scrutinize the search results before choosing a firm to assist with your audit.
Narrow Down Your Search
Think carefully before hiring the first listing in your “public account firms near me” search.
PCAOB audits are often lengthy and can be complicated, so you must carefully review the search results to ensure you’re hiring a public accounting firm with experience with PCAOB audits within your specific industry. Sifting through search results is only the first step in selecting an assurance partner, but it isn’t the only step to finding the right firm for your business.
How to Select the Right CPA for Your PCAOB Audit
Rather than fast-track selecting your audit partner, give careful consideration to all firms you’re considering. Here are a few questions to remember when choosing the best audit team for your next public company audit:
Is the public accounting firm registered with PCAOB?
The SEC requires that public companies trading in the US securities market have an annual audit by a PCAOB-registered public accounting firm and complete a quarterly review engagement. Accounting firms registered with the PCAOB understand the technical nuances of PCAOB auditing standards and regulatory compliance. Registered accounting firms stay up-to-date on regulatory changes and can guide you through the audit process to ensure you have an effective audit.
Does the PCAOB audit firm maintain auditor independence?
Auditor independence rules are set forth by the Securities and Exchange Commission (SEC) and regulated by the PCAOB. The SEC prohibits auditors from providing non-audit services to their clients and affiliates. Auditor independence is critical for the integrity of your company and your investors. Check to ensure that the audit firm maintains strict independence.
Does the public accounting firm have a good reputation?
When it comes to PCAOB audits, experience and reputation matter. It’s extremely important to work with a highly-rated assurance firm to decrease the chances of potential SEC violations. Read client reviews to ensure the firm you’re interested in has no history of missed filings or SEC violations.
Does the firm have industry expertise?
Partnering with an accounting firm with experience is essential. If a PCAOB audit is done incorrectly, it can lead to major costs for the company. For example, if filing dates are missed, the SEC fines are issued per day. Plus, incorrect filings can lead to a company becoming delisted from their exchange.
PCAOB audits are complex and require cooperation to ensure they are completed correctly. Consider the answers to the above questions when reviewing the search results for “public accounting firms near me” and before hiring a public accounting firm for your company.
Go Beyond “Public Accounting Firms Near Me”—Hire a Trusted Audit Partner
Registered PCAOB accounting firms are responsible for completing PCAOB audits and the challenges that come with them. At Assurance Dimensions, we have over 75 years of accounting experience, including skilled professionals ready to partner with you on your next audit.
We understand the nuances publicly traded companies face and can help you prepare for your next PCAOB or SEC Audit. Contact us today to learn more about our auditing services.
