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Audit

Armanino has been auditing public companies for more than 20 years. And, with the stricter requirements in Sarbanes-Oxley (SOX), our firm expanded the work provided to SEC registrants. We have served approximately 100 public registrants in four distinct ways. Armanino’s most recent PCAOB inspection report revealed absolutely no comments citing any deficiency in the audit or improvements that the PCAOB deemed appropriate. These results are a testament to the quality with which we address our work.

Internal Control

Since the introduction of SOX, we have worked with clients to meet their compliance needs. We provide more than just compliance; we address SOX strategically, with the goal of mining true value. If done with the mindset of re-engineering, this can lead to improved corporate governance and more transparent, accurate and reliable financial information.

Compliance with SOX is not a once-and-done effort

  • SOX requirements change annually for companies and audit firms
  • IT systems and infrastructure change periodically
  • Monitoring of compliance is a cornerstone of the program
  • Assessment must be done annually
  • There are new opportunities for efficiency each year
 For non-audit clients, we design, implement and maintain an infrastructure to sustain compliance efforts
  • To achieve sustainable compliance, companies should build an efficient compliance infrastructure that enables repeatable, reliable actions by:
  • Establishing processes that support the business and have appropriate integrated controls
  • Hiring and training competent staff to support business and IT control processes
  • Optimizing processes and controls using technology where possible
 Armanino’s approach is consistent with AS-5 and SEC’s Management Guidance
  • Principles based: Top-down risk-based approach
  • Management has significant flexibility to tailor approach
  • Risk assessment considers characteristics of financial reporting elements and controls
  • Effective, precise entity level controls reduce process level documentation and control testing
  • Focus on core key controls resulting in a streamlined and efficient control set
  • Amount of evidence based on level of risk
  • Allows increased reliance on management’s (or third party) work
 How Armanino can help
  • Right sizing of key financial controls through a comprehensive risk assessment
  • Optimization of your controls through process reengineering and analysis
  • Cost savings through increased reliance by external auditors
  • More expertise per dollar—No need to hire a full-time person to do a part-time job
  • Experienced professionals who work quickly and communicate in “plain English”

Tax Compliance

Armanino fields a powerful team of tax professionals who formerly served as key members of Big Four tax practices in Silicon Valley including domestic, international and state/local tax partners. Our audit team leverages their expertise in provisions (including FIN 48) and international taxes to ensure a quick and thorough review of your tax accounts.

Armanino’s tax practice understands the increasing complexity and global implications of tax issues facing growing companies. We have the diversity of expertise necessary to identify and resolve these issues. Our clients include some of the most prominent public and private companies in the San Francisco Bay Area.


Highlights of our practice include:

  • Multi-disciplined tax service offerings
  • Experienced professionals in the field (mostly partners and managers)
  • Highly competitive rates and fee structure
  • Flexibility in our approach to client service – advisory, loan staffing, complete tax department outsourcing
  • Collaborative and responsive

We also offer the following services:

Consulting

There are times when you have to turn to outside expertise. The key to success is selecting the right partner. With this in mind, Armanino offers an integrated collection of services designed to meet the needs of both growing and established public companies.

Every project is unique. And the needs of each client vary. That’s why Armanino builds each engagement team based on the exact objectives of the project. We pride ourselves on being easy to do business with. Our clients benefit from the quality, reliability, and excellent value of our services.

In the end, we free you up to do what you do best. When your organization is in need of expert external capabilities, Armanino offers you a tailored approach and bottom-line results.

Experts

Resources

sec-audit-cta-armanino

What’s your fee-to-value ratio? Consistently, we find public companies are overpaying for their national and Big 4 auditors, but receiving lower-quality aud ...

SSARS 21 Accounting Update - Armanino

AICPA has issued SSARS No. 21, which will help differentiate between when an accountant performs a compilation, engagement or prepares financial statements.

XBRL Advice for Non-Accelerated Filers

XBRL, a financial reporting format the Securities and Exchange Commission started enforcing for large companies two years ago, is now due to be implemented for the remainder of public companies.

The CFOs 5 Step Guide to IPO Execution

The CFO needs to assess all of the different areas that need to be improved—and sometimes there are some large holes—in order to ensure they are prepared to tackle this major change in their business.

Checklist for an Effective Non-Profit Audit Committee

Unless you’re a small nonprofit with no outside audit, it’s likely that your organization has an audit committee.

Revenue Recognition Overhaul Nears Final Phase

Companies will see significant changes in codes and disclosure rules due to a joint project that will replace the huge body of existing revenue recognition standards with a new single model.

SaaS: Should You Defer Setup, Install and Configuration Fees?

One of the new revenue recognition rules, ASU 2009-13 (ASC 605-25), effective for revenue arrangements in fiscal years beginning on or after June 15, 2010, is changing the rules of the game for companies selling bundled ...

SEC Calls Time: Are You Ready To Comply With XBRL?

The SEC has talked about XBRL for years — now it’s finally mandating compliance.

FASB Reworks Subsequent Events Guidance

On February 24, 2010, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2010-09, Subsequent Events — Amendments to Certain Recognition and Disclosure Requirements. The ASU ...

Public Companies: Top 5 Ways to Increase SOX Efficiencies and Cost Effectiveness

This top-five list gives you insight into the experience that accounting and consulting firm Armanino has gained while performing Sarbanes-Oxley (SOX) compliance services for sm ...

The Push for Global Accounting Standards: Big Changes in the Works

In an increasingly global economy, most financial experts agree that a single, high-quality set of international accounting standards would provide significant benefits. There's less consensus, however, on how to get the ...

Many RIAs Must Comply with New SEC Custody Requirements


Late last year, the U.S. Securities and Exchange Commission (SEC) amended its custody rule — Rule 206(4)-2 under the Investment Advisers Act — to help safeguard investor assets. Now it’s time for ...