Audit and Review

Audit and Review Services for Businesses, Individuals, Not-for-Profits



You can rely on a Walker & Armstrong audit of your financial statement to satisfy the scrutiny of lenders, investors and regulators.

Walker & Armstrong is a recognized leader in performing quality and timely audits for a wide variety of industries, not-for-profit entities, and state, tribal and local government entities.


 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. 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.

An audit provides the highest level of assurance and is often required by lenders, investors, funding agencies and other stakeholders. An audit is a methodical review and objective examination of the financial statements, including verification of specific information as determined by the auditor or as established by general practice.

A Walker & Armstrong Audit

Our staffing of audit engagements involves careful selection so individuals assigned have the required knowledge and industry expertise and more:

  • We strive to provide staffing that best fits your individual needs.

  • Our professional audit staff receives extensive training in audit methodology that rivals larger regional and national firms.

  • Walker & Armstrong audit partners take a hands-on approach by being actively involved with each audit engagement. Staff work papers are reviewed in a timely manner so matters of audit significance are identified and resolved in a timely manner.

Our approach to audits is based on our assessment of risk in accordance with generally accepted auditing standards, and we carefully evaluate each entity. Our methodology, while standardized in a manner to achieve audit efficiency, is not based on a “cookie cutter” approach; rather, we tailor each engagement to achieve optimum quality, effectiveness and value.

Forensic Accounting and Investigative Services

On many occasions, we have been retained to investigate matters of interest to governing bodies, management and funding agencies. Using audit and fraud detection skills, our experienced forensic accountants use sophisticated methods to perform our services and produce quality reports and recommendations.

Audit Technology

We utilize the latest state-of-the-art technology, and all work papers are digitally maintained and transferrable in a secure and confidential manner. In addition, we use the same technical research software as an international “Big 4” Firm that provides us with the latest technical for-profit, nonprofit, governmental and benefit plan guidance.

Agreed-Upon Procedures

In addition to audits, we also perform agreed-upon procedures engagements in accordance with attestation standards, which include specified financial statement elements and management’s assertion on internal controls. We also perform MAS Court audits for various Arizona courts.

Articles: Internal Control Considerations for Not-for-Profits | Compliance Auditing and Preparation for Single Audit

Reviews and Compilations

We perform review engagements for several privately held companies and not-for-profit entities. Less extensive than an audit but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company’s management team. A review can provide the advantages of a CPA’s technical expertise without the work and expense of an audit.

In addition to reviews, we perform compilation engagements. In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations do not require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.

Due Diligence

The services of independent CPAs are critical in assessing business acquisition and merger possibilities. Using our audit and accounting skills, we provide a critical function to assist with such decisions.