The Davis Group Tax & Advisory Services, P.A.
Menu
AUDIT & ATTESTATION SERVICES - FIRM OVERVIEW
The Davis Group Audit & Attestation Services LLC is one of the most innovative local Certified Public Accounting firms in Southwest Florida. The firm has experienced rapid growth due to high quality financial and tax advice along with complete accounting services at a reasonable price. Based on our commitment to excellence and personal involvement with our clients, we have gained an outstanding reputation in Southwest Florida. With hard work, dedication, and continuing education, we enjoy a solid reputation, and continue to grow and prosper as one of the area's quality-oriented and well respected Certified Public Accounting firms. Our firm services a diverse clientele within the association industry inclusive of homeowners’ associations, condominium associations, master associations, property owners’ associations, timeshares and more. We currently employ four full time CPAs with a supporting staff of full-time and part-time employees that varies from four to seven professional staff depending on the season.
The professional conduct of Certified Public Accountants in Florida is regulated by the laws and rules of the Florida Department of Business and Professional Regulation's Board of Accountancy. Certified Public Accountants who are members of their professional societies, such as the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants, have voluntarily submitted themselves to more rigid professional standards. In addition, we have also submitted our firm to voluntary peer review of our firm's practices and procedures.
During the recent years, we have made strides to refine our office policies and procedures in order to become more efficient. We are using current technology to eliminate paperwork by the use of electronic storage of tax and work paper files. Within the next few years, we hope to be completely paperless with all federal and state filings done electronically and all of our work paper files stored electronically rather than in an outside storage facility. In some cases, the completed audit reports are electronically filed with state and federal agencies, instead of mailing the paper copies.
As a firm, we strive to provide high quality, useful, and innovative services to individuals and non-publicly held businesses located primarily in Southwest Florida. We function as a well-organized team when clients require services from more than one of our practice segments. We seek to anticipate the needs of our clients rather than merely react to services requested.
Our client base is very diversified and includes individuals, partnerships, limited liability companies, corporations, trusts, and retirement plans. These entities include condominium associations, homeowner associations, timeshares, cooperatives, developers, construction companies, technology companies, mortgage brokers, non-profit, and many other types of entities. The majority of the engagements for our clients vary from individual and business tax returns, to audit, review, and compilation engagements. Our current clientele includes over 400 condominium, homeowner, master, and other associations.
Our firm has the resources, experience, and depth of knowledge to offer the following services to both individuals and businesses. We can deliver the services that are needed in a professional, timely, and cost-efficient manner. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your work. Our rates vary from $125 to $225 per hour for accounting and auditing services, $125 to $150 per hour for tax services, and $300 per hour for partners' time reviewing, supervising, and consulting.
Accounting Services
Our firm offers a complete range of accounting services including, but not limited to, preparation of financial statements in accordance with Generally Accepted Accounting Principles (GAAP) for use by banks, investors, and other third parties. We will also prepare custom financial reports for internal and managerial use. Other accounting services provided include complete bookkeeping services from write-up through posting of general ledgers, payroll taxes and returns, trust accounting, accounting as a court appointed trustee for bankruptcy, divorce, and other legal proceedings. Other services include the preparation of cashflow statements, budgeting and projections, and consulting on the related software used by the clients.
We also provide condominium associations with a wide range of financial and consulting services in order to help them operate more effectively. Several of these services include assistance in the preparation of annual budgets, working with the boards to insure compliance with the Florida Condominium Act, advising them on methods available for funding the association's reserve and deferred maintenance funds, as well as helping directors fulfill their fiduciary responsibility by assessing the adequacy of the association's accounting procedures and internal controls.
Financial Statements and Reports
There are three levels of reports which can be issued on an entity's financial statements, compilation, review, or audit. A brief description of these reports is as follows:
Compilation - A compilation consists of placing the client's information into a financial statement format. No opinion is expressed, or any other type of assurance is placed on the financial statements.
Review - A review consists principally of inquiries of the entity's management and the application of analytical procedures to the financial data obtained from the entity. The purpose of the review is to obtain a basis for expressing limited assurance that no material modifications are necessary in order for the financial statements to be in conformity with generally accepted accounting principles. The limited procedures applied in a review make the report somewhat more reliable than a compilation, but substantially less than an audit.
Audit - An audit is one of the most significant and comprehensive services that can be provided. The product of the audit is the expression of an opinion about the fairness of presentation on the entity's financial statements. The audit is conducted in accordance with generally accepted auditing standards and provides reasonable assurance that the financial statements are not materially misstated. An audit also includes examining and testing evidence that supports the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by the entity, and evaluating the overall financial statement presentation.
NOTE: If none of the above are performed, regardless of the association's annual revenues, or number of units, the Florida Statues require the association to prepare a report of cash receipts and expenditures. This minimum requirement cannot be waived.
The professional conduct of Certified Public Accountants in Florida is regulated by the laws and rules of the Florida Department of Business and Professional Regulation's Board of Accountancy. Certified Public Accountants who are members of their professional societies, such as the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants, have voluntarily submitted themselves to more rigid professional standards. In addition, we have also submitted our firm to voluntary peer review of our firm's practices and procedures.
During the recent years, we have made strides to refine our office policies and procedures in order to become more efficient. We are using current technology to eliminate paperwork by the use of electronic storage of tax and work paper files. Within the next few years, we hope to be completely paperless with all federal and state filings done electronically and all of our work paper files stored electronically rather than in an outside storage facility. In some cases, the completed audit reports are electronically filed with state and federal agencies, instead of mailing the paper copies.
As a firm, we strive to provide high quality, useful, and innovative services to individuals and non-publicly held businesses located primarily in Southwest Florida. We function as a well-organized team when clients require services from more than one of our practice segments. We seek to anticipate the needs of our clients rather than merely react to services requested.
Our client base is very diversified and includes individuals, partnerships, limited liability companies, corporations, trusts, and retirement plans. These entities include condominium associations, homeowner associations, timeshares, cooperatives, developers, construction companies, technology companies, mortgage brokers, non-profit, and many other types of entities. The majority of the engagements for our clients vary from individual and business tax returns, to audit, review, and compilation engagements. Our current clientele includes over 400 condominium, homeowner, master, and other associations.
Our firm has the resources, experience, and depth of knowledge to offer the following services to both individuals and businesses. We can deliver the services that are needed in a professional, timely, and cost-efficient manner. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your work. Our rates vary from $125 to $225 per hour for accounting and auditing services, $125 to $150 per hour for tax services, and $300 per hour for partners' time reviewing, supervising, and consulting.
Accounting Services
Our firm offers a complete range of accounting services including, but not limited to, preparation of financial statements in accordance with Generally Accepted Accounting Principles (GAAP) for use by banks, investors, and other third parties. We will also prepare custom financial reports for internal and managerial use. Other accounting services provided include complete bookkeeping services from write-up through posting of general ledgers, payroll taxes and returns, trust accounting, accounting as a court appointed trustee for bankruptcy, divorce, and other legal proceedings. Other services include the preparation of cashflow statements, budgeting and projections, and consulting on the related software used by the clients.
We also provide condominium associations with a wide range of financial and consulting services in order to help them operate more effectively. Several of these services include assistance in the preparation of annual budgets, working with the boards to insure compliance with the Florida Condominium Act, advising them on methods available for funding the association's reserve and deferred maintenance funds, as well as helping directors fulfill their fiduciary responsibility by assessing the adequacy of the association's accounting procedures and internal controls.
Financial Statements and Reports
There are three levels of reports which can be issued on an entity's financial statements, compilation, review, or audit. A brief description of these reports is as follows:
Compilation - A compilation consists of placing the client's information into a financial statement format. No opinion is expressed, or any other type of assurance is placed on the financial statements.
Review - A review consists principally of inquiries of the entity's management and the application of analytical procedures to the financial data obtained from the entity. The purpose of the review is to obtain a basis for expressing limited assurance that no material modifications are necessary in order for the financial statements to be in conformity with generally accepted accounting principles. The limited procedures applied in a review make the report somewhat more reliable than a compilation, but substantially less than an audit.
Audit - An audit is one of the most significant and comprehensive services that can be provided. The product of the audit is the expression of an opinion about the fairness of presentation on the entity's financial statements. The audit is conducted in accordance with generally accepted auditing standards and provides reasonable assurance that the financial statements are not materially misstated. An audit also includes examining and testing evidence that supports the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by the entity, and evaluating the overall financial statement presentation.
NOTE: If none of the above are performed, regardless of the association's annual revenues, or number of units, the Florida Statues require the association to prepare a report of cash receipts and expenditures. This minimum requirement cannot be waived.
