Armstrong Associates

Contact Us For Your Finance & Accounting Needs!

212.233.2777

Serving New York City & Surrounding Areas!

Auditing Services In New York City

Making accounting simple and with minimum stress for over 20 years, Armstrong Associates provides professional financial auditing services for small- and medium-sized businesses. Our services are available for real estate limited partnerships, non-profit organizations, and churches. By providing personalized, unique services tailor-made for our different clients, we ensure that you have a great experience partnering with us.

Why Choose Us?

Not only do we offer comprehensive auditing services, but we also have experience working with multi-billion dollar clients. This gives you the peace of mind knowing that your business audit will be handled by a firm that understands accounting audit complexities and can make sure they are handled as efficiently as possible. We also have experience and knowledge in dealing with:

  • Low-income housing tax credits
  • HUD and DHCR audit requirements
  • OMB A-133 and OMB A-122

All of this provides our firm with a well-rounded background, equipping us to help you prepare for all of your financial audit needs.

Audits

An audit is the highest form of a financial statement service that an accounting firm can provide to you, a client. It’s more than just strings of numbers: it involves substantive procedures, independent verification and confirmations, analytical procedures, assessment of internal controls, and much more. A thorough, comprehensive business audit will give you the ultimate peace of mind, assuring that you are in compliance with all applicable laws, standards, rules, grants, contracts, and so forth.

A successful accounting audit process may include:

  • Requesting documents such as bank statements, receipts, ledgers, and anything else listed on an audit preliminary checklist
  • Preparing an audit plan
  • Scheduling an open meeting with senior management and key administrative staff
  • Conducting fieldwork by speaking with staff members and reviewing procedures and processes
  • Drafting a report detailing the findings of the audit that lists any mathematical errors, posting problems, or other audit concerns
  • Setting up a closing meeting to discuss the report, establishing a managerial plan of action to address the problems, and finalizing any remaining issues

Benefits of an audit

No matter how diligent your accounting practices, errors and irregularities can happen. However, you can easily prevent minor discrepancies from becoming major problems with regular auditing services. An audit can:

  • Identify weaknesses in accounting systems
  • Assure directors that the business is running in accordance with information received
  • Prevent fraud and poor accounting
  • Facilitate the provision of advice to incur real financial benefits
  • Enhance the credibility and reliability of figures being submitted to prospective clients
  • Facilitate bookkeeping practices and yearly tracking figures
  • Add credibility to published information

Compilations and Reviews

Armstrong Associates also provides reliable review and compilations services. Reviews are generally acceptable for lenders, management, and investors. This is a cost-effective method of providing a glimpse into your company’s financial health, usually accompanied with additional procedures for greater performance feedback. A compilation is the assembly of data in a financial statement format, providing a snapshot of financial operations. Since these procedures are not as vigorous as an audit, they are a lesser assurance of financial statements as opposed to an actual audit.

Ready to take advantage of our comprehensive auditing services? Contact us with any questions at (212) 233-2777.

Have A Question?

We’re happy to answer any questions you have about our available individual or business services.

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Why Choose Us?

  • 20 Years Of Experience In The Industry
  • Providing Clients With Personal Service
  • Offering Full Service Accounting Services
  • Experience Working With Multi-Billion Dollar Clients