Both, reviews and compilations are invaluable performance measurement tools that enable creditors and investors to evaluate the financial worthiness of a company. For example, financial reviews provide a limited level of fiduciary assurance, while a compilation of a firm's fiduciary performance provides a fundamental level of assurance designed for the layout and presentation of key business data in the form of financial statements. If your company is interested in applying for a business loan, seeking a construction bond, or merely needs an independent verification of your company's financial performance, RMW can help.
Our service approach includes developing a thorough understanding of your business practices, and industry protocols, the collection of which enables RMW to construct a business solution that is tailored to the specific needs of each client. However, compilations and reviews are a significant part of the assurance process methodology and provide mission critical information regarding procedural changes your company needs to incorporate in its day to day operations in order to ensure the company's financial viability and overall success.
"All of our engagements are conducted in accordance with standards set by the American Institute of Certified Public Accountants (AICPA), including SSARS 19 and SSARS 21".
Fiscal accountability is demonstrated by strong internal process controls, budgetary and other compliance measures, as well as accurate and timely financial reporting, sound business practices, and through a culture of strong moral and ethical behavior. RMW can provide special reporting, that addresses the above requirements, enabling firms to employ industry specific processes, procedures and controls that assure organizations are compliant with current regulatory requirements.
All of our fiduciary engagements are conducted in accordance with standards set by the American Institute of Certified Public Accountants (AICPA) and the Government Accountability Office (GAO) Yellow Book. RMW is a leader in government contract audit; our team of experts have extensive hands-on work experience with the Defense Contract Audit Agency (DCAA) requirements, the Federal Acquisition Regulations (FAR) and the Office of Management and Budget (OMB) reporting requirements as well.
The review RMW performs often serves as a constructive guide for improvements in areas a firm might not have considered. Even successful firms can benefit from the valuable feedback provided by the Peer Review Process. As a skilled reviewer, RMW's professional knowledge and practical experience often leads to valuable recommendations for improvements to a firm's internal controls and compliance measures. Such recommendations often result in reduced costs, improved customer satisfaction, and increased revenues.
While engaged in the review process, we acquire an understanding of your industry and perform independent practice monitoring, consulting review, quality-control document review or preliminary quality-control procedures to access your business practices. We will provide the utmost care to ensure that your practices are accurately reported and all reviewed information remains confidential. Additionally, RMW serves as a resource for peer review consultations; this is a valuable service acumen if the firm has or is planning to enter a new service industry
or If a firm has issues in a particular industry, RMW can provide firms with industry specific knowledge and training.
A myriad of tax regulations have taken place over the past few years. Keeping on top of these regulatory and legislative changes and other developments that could affect you is an important part of financial and business planning. While some businesses keep an eye on most of these changes, not all have the time and resources to review each change and determine how it affects them. Compliance presents an ongoing risk, one that demands nearly constant monitoring.
As you navigate these regulations and accelerated changes, we are committed to serving as an ongoing resource that you can rely on.
RMW's team of professional includes former IRS agents, which can assist you through the complex and transforming federal income tax matters.
A myriad of tax regulations have taken place over the past few years. Keeping on top of these regulatory and legislative changes and other developments that could affect you is an important part of financial and business planning. While some businesses keep an eye on most of these changes, not all have the time and resources to review each change and determine how it affects them. As you navigate these regulations and accelerated changes, we are committed to serving as an ongoing resource that you can rely on.
Non-profits face many business challenges that take them away from their mission. Many struggle to overcome the same obstacles from one year to the next, as they continually work with lean operating budgets and small staff. While some challenges are recurring, tax preparation should not be one of them.
Our tax experts work in tandem with nonprofits such as associations, faith-based organizations, foundations, charities, private schools and other nonprofit entities.
We understand that your Form 990 is more than just a tax return; it is an overview of your financials, and it outlines your mission and the achievements you have made throughout the year. We also understand that the Form 990 is not the only tax-related hurdle nonprofits face. We excel at helping nonprofits address the full-spectrum of the tax issues.
Faced with major budget cuts many companies struggle to maintain a reliable efficient and cost-effective infrastructure. Many are under pressure to "do more with less," leading administrators and finance committees to explore multiple options to reduce costs and improve efficiency. Due to these economic constraints, companies must conduct business in the most efficient manner possible. By using our finance and accounting experts you can reduce your company's overhead costs, increase your return on investment, and meet regulatory requirements. By using our experts for your company's financial documentation, you can focus on core competencies, target specific markets and increase profitability. You can also improve flexibility within your company; gain access to specialized expertise; maintain a resource pool with the appropriate skills; and improve efficiency of operations.
Among the challenges that companies may face at any given moment are government enforcement actions, complex business litigation, or allegations of fraud perpetration. In those circumstances, companies and their legal counsel need experienced accounting, economics, and financial professionals with a successful track record of responding to urgent situations where professionals are needed. We assist companies, corporate executives, legal counsel, and board members by: providing expert testimony; conducting internal investigations related to corruption, accounting fraud, or other fraud; assisting with the establishment of effective risk management, compliance, and anticorruption processes, controls, and procedures; performing economic and financial analysis in a broad range of issues involving litigation and other regulatory investigations; and carrying out analyses for financial reporting, bankruptcy and tax-planning services. We provide independent and objective critical thinking by staffing engagements with team members who are highly skilled, creative and professional.
Financial reporting helps management to engage in effective decision-making concerning the company's objectives and overall strategies. The data disclosed in the reports can help management discern the strengths and weaknesses of the company as well as its overall financial health. Financial reporting provides vital information about the financial health and activities of the company to its stakeholders including its shareholders, potential investors, consumers, and government regulators. Through the financial reporting process, RMW provides constructive solutions for maximizing your company's profitability and efficiency. RMW offers financial reporting services on preparation of financial statements, audits, reviews, compilations, agreed upon procedures and financial forecasts and projections. Professional standards are used to prepare financial statements for companies, nonprofit organizations, and individuals. Our approach to these engagements is knowing our customer's needs, understanding the industry for which they operate and communicating information in an informative and useful manner.
RMW provides a wide range of services to meet your company's accounting, financial management and consulting needs. Our services allow you to concentrate on what you do best while leaving specialized support functions to us. Some of the services our professionals provide include:
RMW's Insurance Services Practice provides life, accident, and health through numerous insurance agencies and third-party administrators nationwide.
We offer various insurance packages with varying features: Some give coverage for your lifetime and others cover you for a specific number of years. Some build up cash values and others do not. Some policies combine different kinds of insurance, and others let you change from one kind of insurance to another. Some policies may offer other benefits while you are still living.
Your choice should be based on your needs. We offer policies that provide short and long term disability at no additional charge and guaranteed growth with income for life or cash withdrawal to cover events or situations that occur during your lifetime.
We offer policies for individuals, groups and companies. Contact us for an illustration that helps explain the key benefits of the policy. The illustration will show you what the insurance company guarantees; what could happen in the future; and how the policy will perform for different economic conditions.