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Agreed Upon Procedures

An agreed‐upon procedures engagement is one in which the client engages us  to perform specific procedures and report findings. We do not perform an audit or provide an opinion relating to the subject matter, or make any assertions about the subject matter. 

We perform agreed‐upon procedures engagements in accordance with the standards issued by the American Institute of Certified Public Accountants (AICPA).

Examples of agreed-upon procedures engagements include:
 

Due diligence in buying a business

We offer acquisition‐related financial due diligence services for clients acquiring businesses. Agreed‐upon procedures could include deal analysis, profitability projections and confirmation of financial information.

Bank collateral engagements

We help financial institutions manage and report on their collateral. We can analyze and organize financial documents and related material, analyze operations and financials, monitor collateral and financial performance, inspect fixed asset additions or disposals, and recommend adequacy of reserves or changes in advance rates.

Cost Certifications

We can help you prepare cost certifications as required by various state housing finance agencies for utilization of Low Income Housing Tax Credits.

Compliance with royalty agreements

An effective royalty agreement compliance procedure can determine if licensees or franchisees are reporting sales and the related royalties according to the terms of your agreements.

Forecasts and projections

Financial forecasts or financial projections for your organization can be performed as an agreed‐upon procedure. Since forecasts and projections are based on future activity rather than historical activity, they have certain limitations as compared to other advisory services offered by Wall, Einhorn & Chernitzer.

For further information contact:
Joanna G. Brumsey
Joanna G. Brumsey, CPA
Shareholder

Joanna Brumsey has 21 years of accounting experience, including six years with a national accounting firm. She provides assurance and advisory services to public and private companies in the manufacturing, distribution, retail, franchise, and real estate industries. Joanna serves as the leader for the Accounting & Auditing department. She is also the leader of Wall, Einhorn & Chernitzer's Manufacturing & Wholesale Distribution, and Retail and Franchise Service Teams. Joanna also has extensive experience with budgeting and forecasting, financial modeling, litigation support services, due diligence investigation of target, and post-acquisition integration services.

Julie L. Sokolowski
Julie L. Sokolowski, CPA
Shareholder

Julie Sokolowski joined Wall, Einhorn & Chernitzer, P.C. in 1999. She has been practicing in the field of auditing and accounting since 1993. Her areas of expertise include audit and accounting, compliance, financial statement analysis, cash flow and financing, and business consulting. Julie works with clients in a variety of industries including not-for-profit, government contracting, retail, manufacturing, distribution, real estate and small business. Julie is the leader of the firm's Not-for-Profit Services Team.

Susan R. Einhorn
Susan R. Einhorn, CPA
Shareholder

Susan Einhorn joined Wall, Einhorn & Chernitzer, P.C. in 2002. Prior to joining WEC she was a shareholder with another local Hampton Roads accounting firm. Susan has 30 years of experience providing auditing, accounting and taxation services to closely-held business clients in a variety of industries including not-for-profit, construction (general contractors, subcontractors and developers), real estate (including HUD and VHDA) and retirement plans.

Angela R. Kerns
Angela R. Kerns, CPA
Shareholder

Angela is the leader of the firm's Real Estate Services Team. With over ten years in public accounting, Angela has provided a wide range of advisory and consulting services to her clients in the areas of acquisitions and dispositions, tax credit maximization and deal structuring. Angela's experience is primarily focused on serving multi-family developers whose portfolios range from local to national. Angela specializes in low income housing and historic tax credits using a holistic life cycle approach from credit application and initial development to disposition.