Meeting Your Financial Reporting Needs

At Dugan & Lopatka, our Audit & Review team provides you with more than a report on the financial statements.  we provide you with information that you can use to improve the profitability or efficiency of your operations.

Whether you need conformity with Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS) or want stronger assurances that your internal controls are working to protect your organization, we can help.

• How we perform an audit

  Dugan & Lopatka’s team of highly experienced professionals conduct hundreds of audits annually for organizations including privately-held, family-owned businesses and not-for-profit organizations.

  When our team performs an audit, we take a deeper dive than just reviewing accounting entries.  We delve in to your organization’s activities and operation. Dugan & Lopatka will also learn about your entity and the processes that you go through daily, enabling us to advise you on how to grow and improve your organization.

  We will also verify the balances of all major accounts and make sure that your financial statements are fairly stated in the accounting manner that is required of you.  This insures that Dugan & Lopatka is providing you with a superior financial statement.

• IFRS International Standards Audits

  Dugan & Lopatka has worked with foreign owned subsidiaries for more than 30 years. Our partners and managers deal with international companies on a day-to-day basis. We are a member of INPACT.  INPACT Audit is a global association of independent international accounting firms that perform audits of financial statements that are or may be used across national borders.  INPACT accounting firms are located in 63 countries across the globe.

  Our services include the following:

  • Audits in accordance with International Auditing Standards and U.S. Auditing Standards,
  • Financial statement preparation in accordance with International Accounting Standards, U.S. Accounting Standards.   Our audits enable us to issue an opinion in accordance with both US and International Standards.
  • U.S., local and foreign tax issues, including transfer pricing, treaty work, entity structuring and foreign withholding requirements.
• Employee Benefit Plan (ERISA) Audits

  If your business sponsors an employee benefit plan subject to Title I of ERISA, you are subject to annual reporting requirements that may include an audit of the plan’s financial statements.

  Dugan & Lopatka has more than 40 years of experience in performing employee benefit plan audits of all types.  They include:

  Defined Contribution Plans.  For both 401k retirement savings plans that are established by an employer,  and 403b retirement plans for employees of nonprofit companies, religious groups,  and school districts.

  Defined Benefit Plans.  We also have extensive experience with Defined Benefit Plans, which is another type of employer-sponsored retirement plan where benefits are calculated on factors such as salary history and duration of employment.

  Health & Welfare Plans.  We also offer guidance and advice on either employer defined-benefit or employer defined-contribution Health & Welfare Plans.  They include plans that provide:

  • Medical, dental, visual, psychiatric, or long-term health care; severance benefits; life insurance; accidental death or dismemberment benefits;
  • Unemployment, disability, vacations or holiday benefits;
  • Apprenticeships, tuition assistance, day-care, housing subsidies, or legal services benefits; and
  • Post-employment benefits such as salary continuation, supplemental unemployment benefits, disability-related job training and counseling.

  Employee Stock Ownership (ESOP) Plans.  The fifth type of ERISA plan Dugan & Lopatka we offer assistance with is ESOP plans.  ESOP is a qualified defined-contribution employee benefit plan designed to invest primarily in the sponsoring employer’s stock.

  Our firm has the flexibility, expertise and resources to handle audit engagements of all sizes.  Currently, a global consulting firm with over 25,000 participants worldwide is our largest client.  We also serve many organizations which have only slightly more than 100 participants.

  • Dugan & Lopatka is a member of the American Institute of Certified Public Accountants Employee Benefit Audit Quality Center.  As a member of the Center, our team receives ongoing training in the area of Employee Benefit Plans, understanding the risks that our clients face with these types of plans.  Our people will be both efficient and thorough.
  • We are a local firm with a dedicated team of auditors with low staff turnover which means you reap the efficiency gains of having the same talented audit team working for you from one year to the next.

  In addition, Dugan & Lopatka will:

  • Complete the work in a timely manner — meeting and exceeding your expectations and deadlines.  In fact, we will guarantee it.
  • Provide our services in the most cost effective manner, utilizing our expertise and efficiencies gained over many years auditing qualified plans.
• Do you need an audit or something else?

  Alternative procedures can be performed to meet the needs of a third party, regulatory agency or your specific concerns such as in the following examples:

  • Due diligence work for corporate acquisitions
  • Fraud investigations
  • Review and evaluate internal controls
  • Collateral audits
  • Test of specific accounts, transactions or controls
  • Reporting on construction contracts
  • Reporting on regulatory compliance
• Nonprofit Industry Experts

  Since 1974, Dugan & Lopatka has been active in the not-for-profit industry.   Our CPAs and consultants are always on the cutting edge of industry-related changes.  As specialists in the industry, we have experience working with many nonprofit clients, which keeps our team current with relevant assurance and tax-exempt issues.

  We understand the special accounting, auditing and reporting requirements for your organization and will help you meet these requirements in a timely manner utilizing our extensive knowledge of recent changes affecting nonprofit organizations. We speak your language. Your financial statements and our presentations to your board of directors will be presented in nonprofit terms.

  Our industry experience includes, but is not limited to:

  • Civic and community organizations
  • Cultural organizations
  • Education establishments
  • Health & welfare organizations
  • Private and community foundations
  • Private country clubs
  • Professional and trade societies and trade associations
  • Religious organizations
• CPA Firm Peer Review Services

  The American Institute of Certified Public Accountants (AICPA) bylaws require that its member CPA firms be affiliated with a firm that is enrolled in an approved practice-monitoring program (Peer Review Program).  A majority of State Boards of Accountancy have also made peer review mandatory for licensure.

  A peer review is generally required every three years.  Its purpose is to provide an independent review of a firm’s system of quality control over its accounting and auditing practice.

  Dugan & Lopatka has extensive national experience in conducting these peer to peer reviews.  A successful review will offer your CPA firm an independent perspective on the effectiveness and efficiency of your firm’s policies and procedures. Dugan & Lopatka conducts all our reviews with a commitment to technical expertise, quality and providing practical recommendations.

  A successful peer review depends greatly on a firm’s commitment to quality and compliance with professional standards. We approach the issues you face from a professional, technical and economic standpoint, with the goal of bringing value to the process. We will identify potential weaknesses in your system while offering recommendations and best practices. Our objective is to help you improve your accounting and audit practice in terms of quality and efficiency.