Pre-Audit

Delegating the pre-audit process can promote timeliness and regulatory compliance, reduce the add-ons that drive up audit costs, and ease the distractions and extra work for you and your staff.

Walker & Armstrong Audit Leaders

Since 1985, we have completed nearly 500 audit, pre-audit and accounting engagements for self-governing public entities (including fire districts) and tribal entities, and many more when counting not-for-profit entities and closely held companies.

We understand what your auditors need and how to provide it to them. We oversee the preparation for the annual audits of county and municipal governments, tribal governments, not-for-profit entities, and private companies. 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, the entity’s financial documents are examined to ensure that all information is correct before the entity undergoes an official audit. By providing reconciled general ledger accounts and a clear audit trail, an efficient pre-audit facilitates a smoother, quicker, less disruptive and less expensive annual audit.

We can assist with preparing, from information you provide, the following documents and schedules:

  • Financial statements, notes to the financial statements, and supplementary information
  • Bank reconciliations including journal entries to record the correct balances
  • Receivable listings and reconciliation to the general ledger
  • Fixed asset schedules, including depreciation and identification of additions and disposals
  • Accrued payroll and related liabilities to the adjusted trial balance
  • Reconciliation of equity accounts and identification of classifications of equity

Government Specific

  • Drafting government-wide financial statements and related notes
  • Preparing the Expenditure Limitation Report
  • Preparing the Schedule of Expenditures of Federal Awards
  • Reconciling all fund balances
  • Performing account reconciliations and preparing related adjustments
  • Reconciling investment activity and account balances, including classification summarization
  • Reconciling capital outlay expenditures to fixed asset reports and depreciations
  • Receivables such as amounts “due from other governments” and taxes receivable
  • Amounts due to and from other funds
  • Reconciliation of capital outlay expenditures to the capital asset additions
  • Debt-service expenditures to long-term-debt activity
  • Debt refundings/refinancings
  • Retirement obligations
  • Indirect cost proposals
  • Schedule of interfund transfers, including reconciliation to the adopted budget
  • Reconciling the Treasurer’s cash balance to the general ledger (specific to county governments)

Not-for-Profit Specific

  • Schedule of promise to give (pledges)
  • Analysis of net asset restrictions and designations
  • Cost allocations between program and supporting services, including joint cost allocations
  • Accounting for endowment funds
  • Split-interest agreements
  • Reconciling investment activity and account balances, including classification summarization

For-Profit Specific

  • Inventory
  • Stock-based compensation

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 business owners with whom we have served as partners in planning and progress.

We Are Easy to Work With

You will appreciate our experience with companies like yours, 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 Company or Organization

Every dollar you spend on administrative requirements is a dollar diverted from profitability or fulfilling your mission. Maximizing the return on your professional fees is an absolute necessity.

Our four-decade tradition of austerity in managing our firm has consistently yielded savings that benefit our not-for-profit and commercial clients. Our fee structure is competitive with firms of comparable quality; we are faithful to our quoted fees; and we are vigilant in seeking opportunities to add value to our services and to your business.

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 and operational improvements.

We Help You Fulfill Your Mission

Your relationship with Walker & Armstrong means far more than mere compliance with requirements placed on you by lenders, investors and the government. We carefully 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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