Services
Governmental Accounting and Financial Services
Accounting and financial services in the public sector remains a unique discipline with very specific needs, challenges and requirements. TDJCPA was primarily established to address those needs across the broad spectrum of entities in the sector.
Over many years, our expertise in this area has continued to grow, enabling TDJ CPA to emerge as a single course for accounting and consulting needs dedicated to government entities. Today, with more than 50 years combined direct experience working within the sector, TDJ CPA brings a unique and practical insight to the practice.
We advise a range of government entities including, but not limited to:
• Cities and Towns, both cash basis and GAAP basis entities
• Counties
• Water and Sewer Districts
• Area Agencies on Aging
• Housing Authorities
• Industry Presence
TDJ CPA is an active participant in numerous groups and associations focused on the government sector, including:
Government Financial Officers Association
Government Financial Officers Association’s Certificate of Achievement for Excellence in Financial Reporting (CAFR program)
Washington Finance Officers Association
Internal Audit Consulting/Internal Control Reviews
An organization’s future depends on its ability to identify and manage risk. Effective risk management requires an effective internal audit function.
In a complex organization, a successful internal audit function has a dual role: it supports
the Audit Committee in its fiduciary duties related to internal control—and it partners with management in performing risk assessment and risk management.
In an ideal world, a progressive internal audit function would work adaptively within an organization. Many organizations find it cost-prohibitive to staff an internal audit function and/or maintain the various necessary skills required to meet the challenges facing internal audit and the organization.
TDJ CPA is positioned to provide internal audit consulting support, from staff augmentation to recommendation for best practices for internal controls and risk mitigation. We can work closely with management, existing internal audit functions, and Audit Committees to achieve the scope of coverage organizations desire and require. Our expertise allows to identify a plan in order to mitigate exposure to crucial areas requiring attention beyond your reach.
Excise Tax Consulting
TDJ CPA’s professionals help local governments navigate what feels like an ever-changing landscape of Washington State Excise Tax. We can assist to determine that local governments are paying the right amount in state excise taxes on the appropriate revenue streams.
These include areas such as:
- Public Utility Taxes
- Sales and Use Taxes
- Washington B&O
- Unclaimed property
Audit Liaison
TDJ CPA’s audit liaison function was created to assist and support management in responding effectively to internal and external auditors and other state and federal regulatory agencies.
As an audit liaison was can serve the following roles and responsibilities:
- Provide support and assistance during a financial audit or review.
- Along with management, attend various audit meetings including entrance conferences, status meetings, and exit conferences.
- Facilitate and communicate requests for information between the financial auditors and the client; serve as points-of-contact regarding the overall audit process.
- Review prepared drafts of audit reports for accuracy and completeness; work with auditors to recommend corrections as needed.
- Assist management with the review of and response to audit findings and recommendations, ensuring that responses are accurate, comprehensive, and accurately reflect the position of our clients.
- Assist management in developing strategies for effective and efficient implementation of audit recommendations; then communicate with the auditors and management regarding the progress of the implementation.
- Provide audit status updates to executive management as needed.
- Assist management with the implementation of internal control and process improvements as requested.
Financial Statement Preparation and Compilation
The accounting industry, specifically governmental accounting, is continuously transforming. The Governmental Accounting Standards Boards, since its creation in 1984, made significant advancements in establishing and improving accounting and financial reporting standards. The ultimate aim of these changes has been to support the accountability relationship between governments and their constituents. As GASB works to “perfect” financial reporting, the increasing number of standards and the work associated with the implementation of these new standards can seem overwhelming and daunting for smaller organizations. Finding the time to stay on top of new standards can be difficult. The TDJ CPA team works to provide you with quick access to new standards relevant to your organization, along with ability to assist you in their implementation and presentation in the financial statements.
TDJ can help by either preparing or compiling the financial statements of your organization.
As a CPA firm preparing your financial statements, we can do so in any frequency that is most useful for your organization. Typically, this service is performed monthly, quarterly or annually. The financial statements are prepared in accordance with an acceptable financial reporting framework.
The financial statement preparation service is primarily intended for your own use to have current information on the financial standing of your business and to make decisions accordingly. In essence this service is no different from what an in-house controller or CFO would provide to management in a larger organization.
TDJ CPA will prepare your financial statements directly from the records you provide, we do not verify the accuracy or completeness of the information and we do not issue a formal report on the financial statements.
If a more formal preparation is required, a compilation report can be issued. A compilation report is not an audit or review of the financial statements and accordingly we will not express an opinion, a conclusion or provide any assurance on them.
Contact
Get in Touch
Phone: (360) 559-2309
Email: teresadjohnsoncpa@gmail.com
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