Audit Services

We approach the audit as a service for the benefit of all the organization's stakeholders – the board, shareholders, customers and bankers – all who need to trust the quality of your financial statements. The financial report also serves as intelligence to help the business operate better, now and in the future.

Being Understood By Your Stakeholders
An audit provides value by helping you communicate with banks, investors/shareholders and other financial partners. We have strict quality standards and high expectations of our professionals to deliver a final financial report that fairly, fully and independently assesses the organization's financial statements.

Industry Reputation and Leadership
RSM US LLP is a member of the Center for Audit Quality and the Private Company Practice Section of the American Institute of Certified Public Accountants. We are also registered with the Public Company Accounting Oversight Board.

Current Thinking and Insight / Capabilities and Approach

Financial Reporting Resource Center
Timely, insightful knowledge regarding today’s reporting issues and requirements

Financial Reporting Insights
A biweekly resource for recent financial reporting developments

Revenue recognition: A whole new world
Detailed discussion of the FASB’s new revenue recognition guidance, including its scope, core principle and key steps, and how U.S. GAAP is changing.

FASB/IASB joint project: Financial instruments
A summary of the FASB and the IASB joint financial instrument project on classification and measurement, impairment and hedging, with a look at where the Boards are with regards to convergence.

Leases: FASB issues new guidance
The FASB issued ASU 2016-02, Leases (Topic 842), which makes significant changes to lessee accounting and limited changes to lessor accounting.

COSO Resource and Information Center
Information on COSO – from adoption tips to summaries of each of the principles.

Loan transfer accounting considerations for business development companies
Strategic and accounting issues that first-out and last-out arrangements raise for BDCs making loan transfers.

Accounting for multiple-deliverable revenue arrangements
Guidance for companies on applying ASC 605-25, Revenue Recognition – Multiple-Element Arrangements, including examples illustrating various concepts.

Impairment and sale considerations for debt securities
Other-than-temporary impairment of investments in debt securities refresher and related FAQs, includes effects of selling held-to-maturity securities.

Managing cloud risks with service organization controls
Service organization controls (SOC) reports can help to determine if potential cloud providers can meet or exceed your safety and privacy demands.

Global Cash: Deceivingly Liquid? 
Keith Wallace, international assurance practice leader, addresses global liquidity issues in NACD's Directorship magazine and what directors should understand about the accessibility of overseas cash and the repercussions of repatriating it to the U.S.

GASB Statement No. 68, Accounting and Financial Reporting for Pensions
Long before the current economic downturn, the issue of public pensions and the viability of individual plans has been a much-debated topic. The Governmental Accounting Standards Board has been well aware of the rising tide of unfunded pension obligations.

Revised communications with audit committees of public companies
This white paper provides a summary of recently adopted PCAOB Auditing Standard No. 16, Communications with Audit Committees, including the enhancements to pre-existing communication requirements, new communication obligations and incorporation of certain SEC auditor communication requirements.

Insights for Governance and Growth
An eight-page summary produced with NACD covering key governance issues, including Dodd-Frank, cloud computing, enterprise risk management and IT security and privacy.

An overview of the JOBS Act
A seven-page summary outlining the JOBS Act’s major provisions regarding capital access and reduced regulatory reporting requirements for small to midsized companies.

Are your retirement plan’s expenses reasonable?
A guide to the retirement plan service provider fee disclosure regulations.

A Guide to Accounting for Business Combinations – Second Edition
This edition addresses many insights gained as a result of the application of Topic 805, "Business Combinations," since its effective date in 2009.