Sharing Our KNowledge
Fire Districts
Your fire district's next audit firm should appreciate your vital mission … understand your high-pressure environment ... be well-versed in complex government requirements ... and be your trusted ally in meeting the ever-growing demands for fiscal accountability.
Your next audit firm should be Walker & Armstrong.
Walker & Armstrong audit leaders
See: The Walker & Armstrong Difference (below)
Government entities that received funding from the Coronavirus State and Local Recovery Funds (SLFRF) program may just be learning about a very important deadline that is the topic of this alert. The final rule offers a standard allowance for revenue loss of $10 million, allowing recipients to select between a standard amount of revenue loss or complete a full revenue loss calculation. Recipients that select the standard allowance may use that amount – in many cases their full award – for government services, with streamlined reporting requirements.
Walker & Armstrong audit partner Jay Parke presented "COVID-19 Funding and Compliance" at the Arizona Society of Certified Public Accountants' 2022 Governmental Accounting Conference on February 4.
In June 2017, the Governmental Accounting Standards Board (GASB) issued “Statement No. 87 – Leases” (GASB 87). GASB 87’s objectives are to enhance the information needs of financial statement users by improving how governments report leases; enhancing the comparability of financial statements between governments; and improving the relevance, reliability, and consistency of information about governments’ leasing activities.
Not-for-profits are often challenged in determining the correct balance of costs versus benefits involved in establishing and maintaining internal controls.
Walker & Armstrong helps clients substantially reduce the complexity and distraction of a single audit via effective preparation, adherence to internal controls, and implementation of certain key steps that promote audit quality.
A Four-Decade Tradition of Valued Service to Government Agencies
Walker & Armstrong is a leader in providing mandated and value-added professional services to state and local governments and quasi-governmental entities, including several of Arizona’s largest and most complex public agencies.
We are a full-service CPA firm offering audit, accounting and advisory services to over 30 governmental entities, including large and small fire districts.
When you choose Walker & Armstrong, your days of dreading your annual audit are over. You benefit from the knowledge, expertise and resources to provide timely, cost-effective services to fire districts in compliance with A.R.S. § 48-253 — without needless distractions from your mission.
Our goal is to surpass your expectations. We strive to minimize disruption during the audit process with an attentive, proactive, friendly audit team that understands your financial reporting and compliance requirements. As a part of our services, we are proactive in offering you professional guidance while answering your questions..
We make government our business
We are a leader in understanding governmental accounting and financial reporting standards. Our work often includes performing assessments of existing accounting systems and identifying changes in policies, procedures and accounting structures necessary for successful conformance with the standards. Our service team is dedicated to actively researching various elements of governmental accounting and staying abreast of emerging developments.
Walker & Armstrong provides decades of experience in:
- preparing financial statements in conformity with financial reporting requirements of the Government Finance Officers Association’s certificate of achievement in financial reporting (CAFR) and
- performing compliance auditing under Title 2, U.S. CFR Part 200, Uniform Guidance and preceding regulations under OMB Circulars A-128 and A-133.
Essential Services for Fire Districts
Pre-Audit. By paving the way for your annual audit, an efficient pre-audit facilitates a smoother, quicker, less disruptive and less expensive annual audit.
We oversee the preparation for the annual audits of county, municipal and tribal governments. Our valuable “pre-audit” services, which make up the first step in the process of an audit, include project management and staff training in audit preparation.
During a pre-audit, we assist our clients in the preparation of audit schedules and supporting documentation necessary to facilitate a more timely and efficient audit process. We also will prepare financial statements and supporting schedules.
Audit. Walker & Armstrong audits are conducted in accordance with U.S. Generally Accepted Auditing Standards (GAAP) and Generally Accepted Government Auditing Standards (GAGAS) issued by the Comptroller General of the United States.
We will include tests of your accounting records and other procedures we consider necessary to enable us to express an unqualified opinion that your financial statements are fairly presented, in all material respects, in conformity with U.S. GAAP.
In addition, we assist in preparing financial statements and review your comprehensive annual financial report, including providing suggestions regarding compliance with GFOA reporting requirements.
Reviews. We also provide review services to fire districts whose budgets are between $100,000 and $500,000. A review can provide the advantages of a CPA’s technical expertise without the work and expense of an audit.
Accounting and Advisory. We provide accounting and consulting services to our non-attest clients, including audit and financial statement preparation.
Forensic Accounting and Financial Investigations. Walker & Armstrong helps public and private entities ensure the integrity of their internal controls, investigate suspected fraud or misappropriation of funds, and produce reports on matters of interest to regulators and stakeholders.
Peer Review. The quality of Walker & Armstrong’s services is affirmed by unqualified opinions rendered by independent CPAs on the firm’s peer reviews.
The "Walker & Armstrong Difference"
We do not simply help you comply. We help you succeed.
Walker & Armstrong was established in 1971 on a simple premise: To help our clients enhance their success and achieve their goals. The importance of delivering uncompromising client service – as you define it – and exceeding your expectations is instilled at all levels of our firm, and it is fundamental to our core values of:
- integrity
- accountability
- positive attitude
- respect.
The “Walker & Armstrong Difference” is evident to the hundreds of public officials, public administration staff, organization leaders and business executives with whom we have served as partners in planning and progress.
We are a leader in accounting training and guidance, and we strive to be alert and responsive to your specific needs.
We Are Easy to Work With
You will appreciate our experience with government entities, our consistency in staffing from year to year, and our emphasis on careful planning, hands-on partner involvement and effective communication. Our ability to anticipate the course of your engagement protects you from unwanted surprises and unnecessary disruptions to your routine.
We Honor Our Commitments ... and Help You Honor Yours
We understand the frustration and risk stemming from missed deadlines and broken promises. That is why, at every step in the process, from staffing your engagement and calendaring our target dates to delivering the finished product, our focus is on meeting your expectations for timeliness, accuracy and thoroughness.
We Add Value to Your Organization
Walker & Armstrong is a leader in providing training and guidance relating to financial matters, including implementation of new accounting pronouncements, providing guidance with systems documenta tion and policies and procedures, and implementing best practices to governmental entities.
Our five-decade tradition of austerity in managing our firm has consistently yielded savings that benefit our clients. Our fee structure is competitive with firms of comparable quality; we are faithful to our quoted fees; and we are vigilant in adding value to our services and to your organization.
Backed by our extensive resources and network of technical experts, we add value to many of our government clients by advising them in areas such as:
- Implementation of new accounting standards
- Internal controls
- Staff training
- Maximization of software applications
- Risk management
We Look Out for Your Interests
In addition to offering technical expertise, research tools and other resources that rival the qualities of a national firm, we are alert to emerging regulatory requirements and opportunities for administrative improvements. Walker & Armstrong is a member of the American Institute of Certified Public Accountants (AICPA) Governmental Audit Quality Control Center and Technical Support Center.
We Help You Fulfill Your Mission
Your relationship with Walker & Armstrong means far more than mere compliance with complicated reporting and regulatory requirements. We tailor our services to your mission, objectives and service needs, and everything we do for you is shaped by our “big picture” understanding of what you are striving to achieve.
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