- Audit and Assurance
- Business Development Incentives
- Business Process Outsourcing
- Cost Reports
- Cost Segregation
- Forensic Accounting, Litigation, and Valuation
- Information Technology Audits
- Investment Management
- Nonprofit Technology Solutions
- Tax Services
- Trusts and Estates
Audit and Assurance
Organizations throughout New York State and beyond rely on Lumsden McCormick for quality and efficient audit and assurance services. Clients appreciate our comprehensive range of available services, our proactive approach that keeps them informed of current industry developments, and the accessibility of our partner-led service teams throughout the year.
Our unique audit approach embraces the philosophy of being comprehensive, proactive and accessible; we place great emphasis on examining accounting entries to understand the underlying operations and substance which give rise to those entries. We believe that for our audits to be truly effective they must specifically consider the unique characteristics and risks of each organization in relation to the operating environment, needs of financial statements users and goals. To maximize efficiencies we utilize state-of-the-art technology; audits are conducted in a paperless environment where each auditor possesses a laptop computer with electronic access to the Firm’s extensive network of audit software and research data. Engagement personnel with industry specific expertise are assigned to manage all services provided, which means we provide quality, efficient audits with minimal disruption to our clients’ daily routine.
Our audit and assurance services include:
- Agreed upon procedures
- Audits conducted in accordance with Government Auditing Standards (Yellow Book)
- Compliance audits
- Employee benefit plan audits
- Federal Transit Administration National Transit Database Report
- Financial statement audits
- Forecasts and projections
- Internal audits
- Operations and internal control audits
- Program specific audits
- Report on compliance with Section 2925 (3)(f) of the New York Public Authorities Law
- Reviews and compilations
- SEC reporting
- Service Organization Control (SOC) reports/SSAE 16 audits
- Single audits in accordance with OMB Circular A-133
- Single audit Data Collection Form (SF-SAC)
- US Department of Housing and Urban Development (HUD) program audits
Thursday, February 15, 2018
Do you read the fine print in financial statement footnotes? For a clearer picture of what’s happening behind the numbers, don’t just take financials at face value.
Friday, February 9, 2018
Is your accounting for work in progress (WIP) accurate? To find out, your auditors carefully analyze your methods of allocating costs and recognizing revenue.
Tuesday, January 30, 2018
As you scramble to get up-to-date on changes to the federal tax rules under the Tax Cuts and Jobs Act, there also will be major changes to U.S. Generally Accepted Accounting Principles (GAAP).
Tuesday, July 18, 2017
Welcome to our new staff and audit interns!