Private Companies Practice Area Services:
We provide specialized accounting, audit, consulting, and tax services.
Our process for financial reporting is in fact a financial health check for the company. It is a thorough process that looks beyond the numbers in order to identify opportunities for improvements in internal controls, financial reporting, and internal accountability structures.
Our financial health check can reduce the risk of financial statement misstatement; may help safeguard assets such as: inventory, cash, fixed assets; and identify regulatory non-compliance resulting in minimizing financial exposure.
The following are the accounting services that we offer:
- Financial statement compilation
- Accounting closing procedures (annual, biannual, quarterly, monthly)
For a private company, a financial audit may serve to fulfill a banking relationship or licensing requirement. It may also serve to support business transactions in a sale, merger or business expansion. Prado & Renteria can help by providing credible, audited financial statements.
Additionally, increasing fraud costs companies millions of dollars. An audit can reduce the risk of financial loss and protect a company’s assets.
Our private companies practice area has extensive audit experience that includes auditing techniques and methodologies for testing account balances and transactions in accordance with Generally Accepted Auditing Standards.
The following are the types of audits that we conduct:
- Internal Control
- Special purpose audits
In most instances when a private company is looking to expand, sell or explore merger opportunities, one of the first phone calls they make is to its attorney. However, these types of endeavors require an experienced accountant to evaluate the transaction to ensure the maximum amount of benefits for its owners.
Moreover, start ups or emerging companies may need assistance setting up a strong financial foundation.
The following are the types of consulting services that we offer:
- Accounting system selection, implementation and training
- Accounting policies and procedures
- Special projects: expansion, mergers, acquisitions, etc.
In addition to preparation of income tax returns, we provide IRS representation services on behalf of our clients. We have successfully assisted clients in effectively negotiating and/or responding to tax deficiency notices.
We provide a range of tax return preparation services:
- Income tax including sole proprietorships, partnerships, corporations and limited liability companies
- Payroll tax
- Sales tax
Prado & Renteria is the largest Hispanic owned CPA firm in Illinois. It provides specialized accounting, audit, consulting, and tax services across its unique practice areas: employee benefit plans, government, corporations, private companies, non-profit organizations.
Please contact us with any questions or comments.