March 3, 2014

Government entities face unique issues, to deal with a sensitive political environment and the need to comply with many state and federal regulations.  As a CPA firm experienced in serving state agencies, municipalities, and branches of the Federal government, we are very aware of the financial and legal compliance requirements that governmental officials are faced with daily.  Our highly qualified professionals concentrate on the kind of accounting, auditing, and management advisory services required by government entities.

No matter what the need, or size of the governmental entity, BAKER TILLY PUERTO RICO, CPA’s, PSC has the expertise necessary to meet your demands in a timely fashion, at a reasonable cost.

Financial Audits

In performing financial audits, we go beyond the traditional approach, concentrating our efforts on those areas most important to your particular unit of government to assess  performance, evaluate results, and develop recommendations for improvement to your financial management system.  At the same time, we’re always alert for opportunities to improve operational efficiency and accountability.  We will advise you in the implementation of GASBS 34’s requirements.  GASBS 34, the most comprehensive governmental accounting rules ever developed, significantly changed the way State and Local Governments report their finances to the public.  This give citizens a clearer picture of what their tax dollars fund, such as roads, bridges, and public pools, among others.

Compliance Audits

With specialized knowledge in OMB Circular A-133, FASB 116, FASB 117, and the Single Audit Act, GASB 34, 35, 36 AND 37, we help our clients comply with the various audit requirements and assist them in improving operations.

In connection with single audits, we perform various audit procedures to verify compliance with laws and regulations applicable to federal and state funded programs.  We have developed our own unique audit approach, which emphasizes risk analysis as the basis for planning and conducting the audit.  Our approach assures our clients of two important advantages.  First, it increases the cost effectiveness of the audit process.  Second, it allows us to understand the flow of transactions and information within the organization.  Through innovative and effective consultation, we assist our clients in implementing these recommendations.

Operational Audits and Information Technology

An operational audit goes beyond a financial and compliance audit.  We look at your overall operation as it relates to your management system.  We evaluate current systems and procedures and follow up with recommendations for increasing efficiency.  We then determine where changes in control may be needed  and propose ways to implement them effectively to avoid findings in audits of the Comptroller of the Commonwealth of Puerto Rico.  To further meet the needs of our governmental sector clients, we perform Information Technology audits, computer consultations, and related advisory services.  These services include information studies to identify which method of computer processing will meet your objectives and priorities and evaluation of software and hardware as well as implementation.

Management Advisory Services to Government

Our Government Services Practice Group provides a number of services to complement your financial and compliance audit, including: property tax revenue advisory services, budgetary control, capital improvement policies design, analysis of financial alternatives, fund raising alternatives, bookkeeping training to employees, internal control procedures, preparing Grant Proposals, identification of additional sources of federal funds and process reengineering.