We perform audits of financial statements for government contractors.
- We use a risk-based approach that directs audit effort to where it is needed the most.
- We plan the audit to meet your deadline.
- During the audit process, we keep you informed with a structured approach to engagement management.
- Management and Boards appreciate our clear and concise presentations regarding the conduct of the audit and audit results.
- Our peer review process provides you with independent assurance of our professional quality.
Accounting and Advisory Services
We understand the Federal Acquisition Regulations (FAR) and have helped our clients work with their contracting agencies in audit situations. In addition, we have developed a number of important new accounting services to meet the needs of government contractors in today’s environment. Our accounting services include:
Audit Prep – provides an extra hand with year-end reconciliations, adjustments and audit schedules while you continue to control ongoing operations. Audit prep helps you reduce delays in completing your audit, avoid crisis conditions, and improve audit results. You get the additional professional expertise you need only when you need it.
Monthly or Quarterly Accounting allows you to use in-house accounting staff for daily transactions and bring in the additional professional expertise on an as-needed basis. Monthly or Quarterly Accounting provides you with reconciled financial statements throughout the year for management information, financial reporting and tax planning.
Controller for Hire – provides experienced accounting personnel to fill short-term needs as interim controller or CFO.
Weekly Accounting – staffs your entire accounting function processing transactions, reconciling accounts and preparing monthly compiled financial statements. Weekly Accounting saves you time on hiring, training and supervision of in-house accounting personnel. Weekly Accounting is a great resource for a new business and can be transitioned to monthly accounting assistance at a later date.
Compilation and Review of Financial Statements – provides complete financial statements compiled or reviewed under AICPA standards to meet your financial reporting needs as required by your bank or Board. Compiled statements may also be prepared in a short form as needed as part of monthly or quarterly accounting.
Accounting System Design – provides help in designing an accounting system that meets federal agency standards and produces the reports you need for management and reporting.
Advisory Services – provide professional assistance in addressing specific accounting issues such as assistance with the:
- application of new accounting principles,
- development of accounting manuals,
- establishment of procedures for internal control, and
- development of indirect cost rate proposals and the calculation of provisional rates.
We prepare Corporate, S Corporation and Partnership/LLC tax returns for our government contractor clients and assist them with tax projections and tax planning. We consider the overall tax picture of the business and its owners. We understand the tax issues related to government contractors including the need to balance the accounting requirements of FAR with the related tax effect.
Employee Benefit Plans
We perform audit of employee benefit plans including DOL limited scope audits. We prepare Form 5500.
Areas We Serve
Renner and Company, CPA, P.C. serves nonprofits, individuals and businesses, including government contractors, located in the Washington DC metropolitan area including Alexandria, Arlington, Fairfax, Falls Church, Tysons Corner and Reston, Virginia; as well as Bethesda, Rockville, Beltsville, and Silver Spring, Maryland; Washington, DC. and other states and locales.