- Audit and Assurance
- Business Development Incentives
- Client Accounting Services
- 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
Wednesday, March 13, 2019
How can you help facilitate efficient, timely audit fieldwork? The keys are frequent communication and coordination between a company’s internal audit department and its external audit firm throughout the year.
Monday, February 11, 2019
The year in review letter summarizes the year’s most significant changes in guidanceand what to expect in 2019. It also includes a comprehensive list of the effectivedates for recently-issued accounting standards in the appendix.
Thursday, October 18, 2018
Starting this tax year, the Tax Cuts and Jobs Act (TCJA) has increased the threshold for businesses that qualify for the simpler cash method for federal tax purposes.
Tuesday, July 18, 2017
Welcome to our new staff and audit interns!