audit and assurance services internal audit iconAUDIT & ASSURANCE SERVICES


Our experienced professionals provide timely, accurate and comprehensive audit and assurance services to a variety of privately held companies in various industries as well as nonprofits, governmental entities and employee benefit plans. We understand how essential audited financial statements are, not only to the organization itself but to lenders, owners, shareholders, boards of directors, investors and other stakeholders. We provide the assurance on the reliability of the financial information these organizations report to their key stakeholders in order to bring the highest level of credibility to an organization’s financials.

As your audit professionals, we work with you to improve your overall financial reporting processes. Before we begin the audit process, we strive to truly understand every aspect of your business as well as the risks it faces – then we target our efforts on what matters most.

We supply our clients with the assurance that their financial reports are materially correct and compliant. In addition, our clients derive value from our reported observations of their internal controls, systems and operations gleaned from our audit process.

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Agreed-Upon Procedures Engagements
BUSINESS IMPACT: Improve Credibility

Agreed-upon procedures engagements are those resulting from a request that certain procedures be performed by an external accountant who lends credibility to the results of tests, evaluations and procedures on specific elements or accounts. Prior to performing the engagement, SVA works very closely with all parties to understand the procedures desired, the extent of testing required and the purpose for which the engagement was requested.

A report detailing the findings is prepared and delivered. As an unbiased party, SVA provides no opinion or certification regarding the results.

Compliance Audits

A compliance audit is risk protection for the organization. This audit is designed to be a comprehensive review of whether an organization is adhering to applicable regulatory guidelines for their industry and/or rules laid down in a contract or agreement between the organization and other parties.

Employee Benefit Plan Audits

Excluding specific exceptions, federal law requires employee benefit plans with 100 or more participants (ERISA defined) to have audited financial statements included with the Form 5500 filing. Smaller plans may also require an audit if the plan does not meet certain conditions exempting it from the audit requirement.

Our auditors understand the complexities of employee benefit plans and can focus on the important issues, providing valuable guidance to you as plan sponsor.

Federal and State Single Audits (Uniform Guidance, OMB Circular A-133, State Single Audit Guidelines, etc.)

Single audits are specialized, tailored compliance audits for organizations that receive certain levels of federal and/or state grant awards. These audits ensure that government funds are being used for their intended purposes and vary in complexity depending on the level of grant funding the organization receives and the programs funded. SVA utilizes its extensive experience in working with federal and state-funded organizations to help with the requirements of these special compliance audits.

Financial Statement Audits and Examinations

Audits offer the highest level of assurance to outside sources and third parties on financial statements and financial statement elements. They include an in-depth examination and confirmation of account balances, inventories and a sample of transactions.

Examinations provide a similar level of assurance as financial statements audits. However this assurance is on the reasonableness of particular management assertions. Examples of these types of engagements include financial forecasts and compliance with laws and regulations.

Financial Statement Reviews, Compilations and Preparation Engagements

Reviews offer limited assurance to outside sources and third parties on financial statements and financial statement elements. They involve a tailored combination of management inquiries and analytical reviews of financial information to identify any items requiring further investigation.

Compilations and preparation engagements offer no assurance but do provide management with a formal set of financial statements for the organization and generally are used when bookkeeping assistance is required. Compilations include a formal accountant’s report and are often used for external reporting while preparation engagements typically exclude a formal report and are often intended for internal use.

Guided Discovery

Organizations often encounter complexities that create uncertainty, which makes decisions about next steps difficult. Through our guided discovery process, SVA can help you discover the situation, identify business problems, assess alternatives and propose solutions to keep your organization moving forward.  

Internal Audit Assistance and Outsourcing

An internal audit has evolved from a compliance-based function focusing primarily on detection to a strategic solution valued by executives and board members. Acting on the growing importance of this strategic management tool, SVA can help. By using your internal audit function, our experts help you build a competitive advantage focusing on and improving your current risk management practices, control systems and governance processes. We provide a variety of reviews and assessments as well as full access to reliable, highly-qualified in-house staff so your organization can use its resources in the way they were intended.

Internal Controls Assessment and Consulting

Your organization faces increased demands to develop and maintain a systematic and powerful set of internal controls. And given the growing complexity of regulatory and legal demands, business owners, organization executives, service organizations and governing bodies are hard pressed to keep current with the latest compliance requirements.

SVA assurance professionals help make sure your management assessment tools keep pace. We study your processes and make sure they are compliant with applicable laws and regulations. We advise you on current standards and methods of effective internal control.

Management and Audit Committee Advisory Services

Understanding your financial statements helps you pinpoint how and where your organization is making money and creating cash flow. SVA professionals can help you transform raw numbers into management tools that allow you to make informed management decisions. With clear metrics and historical data to help you make informed judgments, you receive a three-dimensional picture of your position in the industry.

Your financials are presented in a format that reveals trends and implications in easy-to-understand terms. We also provide competitive data to give you insight into what’s happening in your external environment.

Sarbanes-Oxley (SOX) Controls Identification and Testing

Fulfilling corporate governance responsibilities in today’s ever-changing and complex business environment is a serious challenge. Utilizing a top-down, risk-based approach, we streamline the SOX compliance effort, eliminating excessive time investments, personnel resources and dollars on this annual compliance need. Sustainable SOX compliance assistance is provided via complete project outsourcing down to limited control testing efforts. Because our SOX compliance service professionals at SVA are practicing CPAs and external auditors, fellow external auditors usually place greater reliance on our work, thereby potentially decreasing the overall external audit effort.

System and Organization Controls (SOC 1 and SOC 2) Readiness Assessment and Reporting

A SOC report is designed to provide assurance for third-party service organizations who are expected to have appropriate internal controls and safeguards in place when it comes to hosting, processing or accounting for their customers’ data and assets.

Potential customers requiring you to provide a SOC report are becoming more common as internal control compliance issues are at risk when critical services are outsourced to a third party.

Third-Party Audit Preparation

Financial audits are most often required by a third party — a bank when seeking a loan, a government agency providing funding, or as a requirement for a grant application. As an independent audit team, we assist an organization’s staff accounting team with preparation and/or review of supporting schedules and documentation that an auditor may request to support financial statements amounts and disclosures as well as organization compliance.

Yellow Book (Generally Accepted Government Auditing Standards) Audits and Examinations

Often, provisions of laws, regulations, contracts, grant agreements or policies require that an audit be conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS), aka “Yellow Book”.

Certain organizations that receive federal financial aid must submit reports and financial statements that have been audited by a CPA under the “Yellow Book” standards. The threshold for this varies depending on the grantor's requirements and/or the type of entity involved. In addition, other reporting requirements may stipulate that these standards be followed as well.

Measurable Results.
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Measurable Results.

"SVA provides proactive sound financial and business advice. They help me gauge what we are doing well, what we can do better, and they develop strategies to guide my company into the future."

Kim Lobdell, President, KL Engineering

KL Engineering



Measurable Results.

"We were fortunate to partner with SVA. Without their guidance, we would not be in the position we are today – the largest endodontics practice in Madison."

Dr. Nabeel Khan, Partner

Capital Endodontics



Measurable Results.

"SVA provides our accounting and back office functions including bill paying, account reconciliations, and compensation calculations. They also been instrumental in strategic planning for business growth and infrastructure development. "

Dr. Sally McKinnon, Partner

Madison Radiologists



Measurable Results.

"Working with SVA gives us one less thing to worry about. They helped us cut our overhead by 6.5% and created effective business processes allowing us to focus on the core of our business- taking care of our patients."

Dr. John Olson, Managing Partner

Madison Anesthesiology Consultants



Measurable Results.

"We rely on SVA’s forward-thinking approach. With their assistance, we restructured our business creating tax and cost savings."

John Stoker, President
Daryl Prusow, Vice President

Victory Homes



Measurable Results.

"We rely on SVA’s technical expertise and practical advice to help us navigate the complex issues involved in the real estate business."

Mike Morey, President




Measurable Results.

"Our bank recommended SVA and we have never looked back. SVA doesn’t always tell us what we want to hear, they provide the advice we need to grow our business."

Fred Manske, Owner

Manske Machinery Service



Measurable Results.

"SVA provides top to bottom care by being hands on and thorough. Whatever our need, they respond quickly and efficiently. They helped us reduce our overhead by 6%."

Dr. Paul Elcano, Executive Partner

Racine Dental Group



Measurable Results.

"SVA’s valuation of our company and their expertise in loan structuring was instrumental in maximizing the tax benefits as we transitioned ownership."

Scott Stevenson, Owner




Measurable Results.

"SVA provided financial statement stress testing scenarios including how interest rate fluctuations and federal subsidy changes might affect our bottom line. Our board now has the information they need to make informed decisions."

Mary Wright, President

Wisconsin Housing Preservation Corp. (WHPC)



Measurable Results.

"SVA streamlined our largest and most complicated fundraising effort by developing an effective method of tracking inventory and sales."

Deborah J. Gilpin, President & CEO

Madison Children's Museum



Measurable Results.

"SVA has a reputation in the dental community that is second-to-none. They have exceeded our expectations and truly have been a catalyst for our business."

Dr. Lisa Teel, DDS, MS, Owner

Meridian Endodontics



Measurable Results.

"I would recommend SVA because no question is too small. They have the same core values as BC Adhesives and we trust their opinions and recommendations."

Melissa Shibilski, Finance Manager

BC Adhesives



Measurable Results.

"SVA was our first phone call. They have been with us since Day 1 and without them I [Mark Nolen] don't know where we would be."

Mark Nolen, President & CEO

Wisconsin Brewing



Measurable Results.

"We saved $20,000 in taxes and deferred over $500,000 of taxable income with the help of SVA. They are a tremendous partner for our company."

Mark Barnes, President/CEO




Measurable Results.

"The SVA team understands the business trends in our industry and helps us develop strategies for business in a good economic climate, as well as preparing us for economic downturns that may occur in the future."

James Wagner, President

Capitol Mechanical Inc.



Measurable Results.

"My clinic saves over $10,000 in taxes yearly with the help of SVA. They help me improve my profitability."

Dr. Jesse Sondel, DVM/Owner

Sondel Family Veterinary Clinic



Measurable Results.

"We hire professionals who bring knowledge to the table that we don’t have. SVA continuously delivers a well-informed, objective perspective we value which makes us continuously evaluate our path."

Lincoln Fowler, Co-Founder

Colectivo Coffee



Measurable Results.

"SVA’s reputation and expertise with nonprofits made them our first choice! Their ability to turn the work around in a condensed timeframe, and in a way that all Board of Director members could digest easily, has made them an invaluable resource to us."

Jennifer Jeffress, Executive Director

Madison Public Library Foundation



Measurable Results.

"When it was time to bring on a new partner, SVA discussed the offer, practice numbers, and goals which made our new partner very comfortable with joining our practice. They appreciated the personalized communication as they transitioned into our practice."

Dr. David Toivonen, M.D., Senior Physician

Hand to Shoulder Center of Wisconsin


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