Other Assurance Services/Agreed Upon Procedures
HCF&L can assist you with the specialized needs and concerns of your business that are less encompassing than an audit, review or compilation. These agreed upon procedure engagements, often involve testing an element or a specific process. For example, in a multi-employer benefit plan arrangement, there are substantial risks as to whether the proper contributions are being made to the plan by the participating employers. HCF&L will design a program to test the participating employers' compliance with the collective-bargaining agreement, which is the document that defines both eligibility and how these contributions should be calculated. Further examples include procedures to assess compliance with loan procedures, and bank secrecy compliance. Governing boards may have concerns regarding the operations of a certain department within the organization, or require an analysis of control processes and reporting.
HCF&L is well versed in these non-traditional engagements. Our specialized knowledge, experience, as well as an excellent library and technology aids, provide the resources necessary for superior products and results.
Our experience includes the following:
· Cost certifications
· Evaluations of internal control
· Testing elements of a financial statement
· Payroll audits
· Bank Secrecy/OFAC compliance testing
· Testing loan collateral
· Testing compliance with regulations, company policy, or other measure