Audit & Accounting

Audit & accounting services assure your company’s compliance with requirements of applicable laws, financial reporting standards, regulations, rules, contracts, or grants. The most common audit & accounting services provided by NYCASI member firms include:

Accounting. A range of services designed to provide timely preparation of company accounts, whether it be at the financial year end or on a monthly basis. Services include but are not limited to general ledger and financial statement preparation, accounting system design and implementation, cash management & forecasting, and depreciation & asset tracking.

Audit, Review & Compilation.  Audit, review & compilation services provide your company the means to comply with your statutory requirements, and give you critical information for making well-informed decisions about your business. Audits independently verify by sight, confirmation, discussion with management, assessment of internal controls and analytical procedures, that a company's financial reports are substantively correct. Reviews are less detailed and consist predominantly of an assessment of the company's books and records by the performance of analytical tests, certain analytical procedures, and calculation of certain financial tests and ratios. Compilations compile the books and records of a client without the performance of any substantive procedures, independent verification or confirmations.

Attest Services. Services under which a firm makes a formal statement after thorough examination and consideration, as to whether your company’s financial statements fairly present financial position and operating results. These services provide an objective evaluation to aid financial statement users.

Internal Audit.  Audit services designed to help your business mitigate risk, create new efficiencies and better support strategic objectives.  In addition to doing basic review of company financials, internal auditors review your processes and make recommendations to maximize productivities. 

Tax

Tax services help you and your company remain in compliance with all possible taxation rules and regulations that may apply to you. The most common tax services provided by NYCASI member firms include:

Tax Planning & Compliance. A range of services designed to help you and your business report to tax authorities in a timely and accurate way, while minimizing tax liabilities on your family, your business or your company profits. 

International Tax. Services in this area include inbound and outbound expertise in the areas of pre-immigration tax and estate planning, foreign investment in real estate, foreign corporations doing business in another country, financing of foreign operations, joint ventures with foreign partners, tax impact of currency fluctuation, inpatriate/expatriate taxation, taxation of foreign trusts, compliance services, VAT (value added tax), GST (Goods & Services Tax), HST (Harmonized Sales Tax), customs duties, and representation before relevant international tax authorities.

State and Local Taxes (SALT). Services designed to help U.S. businesses appropriately manage their state & local taxes, which in many cases make up one-half or more of the total tax burden.  State and local taxes, which are quite complex and vary widely across jurisdictions, include sales/use, payroll/employment taxes, property taxes, and income taxes at both the state and local level. 

Cost Segregation.  A low-risk, high-return method to recover capital investments and improve cash flow. Services enable entities to retain cash longer by accelerating depreciation deductions of facility components, by categorizing new, renovated, and existing building costs into their underlying components.

 

Compliance

Compliance services help you and your company conform to important laws, rules and regulations that affect accounting activities. The most common compliance services provided by NYCASI member firms include:

SOX Compliance. Services designed to support the internal control and financial statement assertion requirements mandated by the Sarbanes-Oxley Act of 2002 (SOX). These include assisting in assessment of internal control risks, documenting processes for financial reporting, identifying control objectives and activities, remediation of internal control gaps, and testing of internal controls.

IFRS. Services that help clients adhere to International Financial Reporting Standards (IFRS), a set of accounting standards developed by the International Accounting Standards Board (IASB). IFRS is becoming the global standard for the preparation of public company financial statements. The IASB is an independent accounting standards body, based in London.

Business Management

Business management services provide companies and the individuals who run them with tools and strategies to improve operations and plan for the future. The most common business management services provided by NYCASI member firms include:

Business Management for High Net Worth Individuals. Helping you manage and maximize wealth and grow your businesses through a range of services, including tax planning, estate planning, business succession planning, retirement planning, trust accounting, asset management, charitable giving, insurance needs analysis, investment analysis, education funding, and debt management.

Business Management for Small Business.  Services for assisting entrepreneurs and small business owners with day-to-day operations, as well as planning for the future – including accounting systems design, new entity structuring, financial solutions advisory, and more.

Cash Management. Services to help you and your company understand your cash flow, both currently and on a projection basis, and how it impacts the health of your business.

Strategic Planning. Services that help your company define its strategy, or direction, and making decisions on allocating its resources to pursue this strategy in both the short and the long term.

Succession Planning. Planning for the smooth continuation and success of your business, which can involve passing the business on to your family members, a management buy-out or sale to a third party.  

Transfer Pricing. Services in this area help you and your company review, document, manage and defend your transfer pricing policies and processes, thereby aligning them with your business strategy. These services can include transfer pricing documentation, functional and risk analyses, economic intercompany pricing and interest rate analyses, transaction analyses, development of global transfer pricing policies, advanced pricing agreements, cost sharing agreements, and dispute resolution.

 

Consulting & Advisory

Consulting & advisory services provide strategic thinking and advice on the most valuable ways to enhance your business effectiveness. The most common consulting & advisory services provided by NYCASI member firms include:

Business advisory.  Services that help you and your company establish long-term objectives and specific strategies, evaluate and implement current operations, and develop recommendations for the future.

Consulting. Services that help implement changes within your company to accomplish specific goals, either on a project or a long-term basis, by analyzing your needs and managing development, implementation and training until it is completed.

Human Resources Consulting. Services that focus on the process of effectively using your company’s personnel to obtain your organizational goals.

Technology Consulting.  Services designed to ensure the security and efficiency of your IT environment and operations, which in turn reduce risk of loss, improves the overall flow of business, and addresses any required compliance with data regulations in your industry.

Risk.  Services that help you identify, assess, and manage current and future business risks, measure and monitor the effectiveness of your risk management strategies, as well as minimize risk by improving efficiency, reducing costs and ensuring regulatory compliance. 

 

Financial Planning

Financial planning services help you build and maintain a desirable financial position through a combination of sound planning and wise choices. The most common financial planning services provided by NYCASI member firms include:

Estate/Trust/Gift Tax Planning. Services that help you consider your family and financial ideals and design structures to transfer property to your beneficiaries in a way that fulfills your goals and objectives. 

Financial Planning. The broadest range of services to help you and your business develop effective strategies for your financial future, by specifically addressing your financial concerns in the context of your overall financial situation. Financial planning touches on a range of other services, including cash flow management, education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business succession planning.

Retirement Planning. Services that assist you and your employees in achieving your retirement objectives, including designing and implementing planning strategies, overseeing implementation of new plans and investment options, development and integration of education and enrollment, overseeing and reviewing year-end report filings, and more.

Wealth Management. Investment advisory services for you and your business that incorporate financial planning, investment portfolio management and a number of aggregated financial services, including retail banking, estate planning, legal resources, tax services and investment management.

Assets & Acquisitions

Assets & acquisitions services are designed to help companies who are looking to change their status – whether through growth, restructuring, consolidation, or liquidation. The most common assets & acquisitions services provided by NYCASI member firms include:

Mergers & Acquisitions. Services to assist you in the buying or selling of a business, including performance of due diligence, representation in negotiations, provisions of tax impact and planning analyses, assistance in finding a prospective buyer or seller, and identifying funding sources.

Business Valuations.  Services that help determine the true value of your business. These can include valuation opinions and reviews, appraisal critiques, conflict negotiation and settlement, economic analysis, litigation consulting, and expert witness testimony.

Corporate Finance. Services to help you complete an acquisition, investment, divestiture or financing, in particular with a focus on accounting, tax, and financial due diligence. These can include a variety of specialty services, including business valuations, transaction advisory services and transaction structuring, and other services related to mergers and acquisitions.

Insolvency & Restructuring.  Services assisting you or your company when you are experiencing financial distress, as well as helping secured and unsecured creditors or other parties impacted by a troubled company. These can include restructuring services, voluntary administration, liquidations, receivership, bankruptcy/personal insolvency, and forensic services.

Transaction Advisory Services. Services that detail the accounting and tax implications of various transaction structures when engaging in corporate finance activities, up to and including assistance with closing balance sheet adjustments, purchase price allocations, financial modeling, and more.