As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.

*General ledger & financial statement preparation

*Bookkeeping (Monthly/Quarterly/Annual)

*Accounting system setup for new businesses

*Computerized payroll services

*Business tax return preparation (Sales & Use/Business Property)

*Personal financial statements

*Litigation support

Elgee Rehfeld Mertz has taken a leadership in this area and is already regularly performing “Agreed Upon Procedures” engagements in the following industries:

Construction Contractors - Most contractors need to provide certain financial information to the bonding companies in order to get bonds for large (usually government) jobs they are bidding on. Historically, bonding firms have requested “reviewed” financial statements. Unfortunately, when we prepare reviewed financial statements, much of the information contained in these financial statements is of no interest to either the bonding firm or our client. As a result, we have worked with some of our clients and their agents and underwriters to develop a set of “Agreed Upon Procedures” to provide the firm with information the underwriter is really interested in. These engagements typically include procedures to provide the following : A list of current long-term and short-term debt A Schedule of Contracts Completed during the past year – prepared as prescribed by the American Institute of CPA’s (AICPA). A Schedule of Contracts in Progress at the end of the current year -- prepared as prescribed by the AICPA A balance sheet An income statement This may not be the right thing for all contractors or for all situations; however, we have found the cost of an Agreed Upon Procedures engagement to be significantly less than the historical reviewed financial statement engagement – and it provides only the needed information.

United Way Organizations – The United Way of America, and our local United Way chapter, have historically required members to be annually audited if they receive more than $100,000 a year in total support and revenue. Many member organizations spend more than $100,000 but less than the $500,000 federal and state audit thresholds. And for these organizations, a full audit, which usually costs at least $4,000 or much more, is a real hit to their budgets.

To answer this problem, Elgee Rehfeld Mertz proposed an “Agreed Upon Procedures” engagement to the Board of Directors of United Way of Southeast Alaska (UWASE) which it approved on November 18, 1998, for all member organizations who receive $100,000 to $500,000 in assistance per year.

Under this approach we “audit” the nonprofit’s controls over the disbursement and receipt of cash, and regulations that it is subject to (IRS, grant, gaming, etc.). We then report to the board of the organization and UWASE whether its controls are sufficient and which areas are not sufficient.

Using this approach, we target what’s really important for non-profit boards – that their organizations have proper internal controls. And for United Way contributors we target what they are interested in -- that their contributions are properly safeguarded and used. Also, we are able to bill non-profit organizations typically $1,500 for these services which can be a huge help in times of tight budgets!!

Common Interest Realty Associations (CIRAs) – The by-laws of CIRAs – that is to say homeowners associations – usually call for an annual audit or review. However, many times what the board of directors or CIRAs are really interested in is whether proper internal controls exist. Accordingly, we have developed an “Agreed Upon Procedures” engagement to target our work to answer those questions. As part of these engagements we examine:

Bank statements and reconciliations Checks written during the year Dues received and receivable IRS tax filings Balance sheet and income statement (optional)

By performing these procedures we fulfill the audit or review requirement of the by-laws but eliminate procedures that provide little benefit to our clients -- and reduce their fees in the process!

We have extensive expertise in a variety of industries including healthcare, government, the fisheries industry, construction contracting, retail and wholesale business, the timber industry, non-profit and ANCSA entities.

While confidentiality prevents us from presenting our privately held clients, the following is a list of some of our current and former government and non-profit clients:

Government:

Alaska Student Loan Corporation, Alaska Municipal Bond Bank, Exxon Valdez Oil Spill Trustee Council, The City and Borough of Juneau, Central Council Tlingit Haida Indian Tribes of Alaska, City and Borough of Juneau School District, Bartlett Regional Hospital,

Non-Profit Organizations:

Southeast Regional Resource Center, Catholic Community Services, Gastineau Human Services, Wildflower Court, Inc., CoastAlaska, Inc., Capital Community broadcasting (KTOO TV and FM) CoastAlaska, Inc.

Elgee Rehfeld Mertz uses a risk-based approach to auditing, and strongly believes in using the audit process to provide our clients with useful recommendations to make their operations better. We have a long list of client references available upon request.

We are also members of the AICPA’s Private Companies Practice Section (PCPS). A firm participating in PCPS must have an independent review of its accounting and auditing practice every three years.

*Accounting software selection and implementation

*Type of entity selection

*Business valuations

*Buying/selling a business

*Computer systems

*Financial & retirement decisions

*Estate, trust & gift planning

These services provide lower levels of assurance than a full audit, but are also less costly while at the same time providing a full set of financial statements prepared in accordance with GAAP. We can work with you to help you identify the right level of service for your business.