Assurance and Audit Services

Unrecognized and Unmanaged Risks Are the Greatest Threats to a Business and Its External Financial Reporting

Audited financial statements add credibility to management's financial representations by giving assurance that the financial statements conform to generally accepted accounting principles. The concept of an independent audit is a key element in the success of mergers and financing, as well as in the willingness of shareholders to invest.

Beyond debits and credits, we analyze:

• Critical operating processes of the business
• External economic risks
• Customers and markets
• Performance measures and objectives
• Key internal accounting controls
• Critical information systems attributes

We work with your personnel to provide cost-effective recommendations to improve operations and management practices. Through our assurance services, we have assisted SEC-registered businesses as well as closely held private enterprises, nonprofit organizations, startups, and e-businesses.

We were among the initial firms registered in 2003 with the Private Company Accounting Oversight Board (PCAOB). Our partners and staff have extensive experience in this complex and ever-evolving practice area that is rigorously regulated by the SEC and PCAOB. We conduct numerous audit engagements that are subject to public reporting; and are prepared to conduct required internal control procedures mandated by the Sarbanes-Oxley Act. We have access to individuals whose contacts with the PCAOB, SEC and Financial Accounting Standards Board enable us to be an effective voice for our clients.

The Sarbanes-Oxley Act of 2002 (SOX)

SOX was an attempt to restore confidence in public and regulatory agencies and is a complex and comprehensive law that covers a broad scope of corporate responsibility issues for public companies. Section 404 of the Act does not merely require companies to establish and maintain an adequate internal control structure, but also to assess its effectiveness on a quarterly basis, with annual attestation or certification by an external auditor.

The SEC has mandated the use of an internal control framework, based on recommendations by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The elements of Section 404 compliance involve corporate management's evaluation of design and operation of internal controls over financial reporting, disclosure of all known controls, significant deficiencies and acts of fraud, if any.

In order to achieve an integrated control program within COSO's parameters, the following components must be addressed: competency within the control environment, risk assessment, control activities, information and communication, and monitoring. Our 404 specialists assist their clients to navigate the complexities of the Act and avoid potential criminal liability.

Employee Benefit Plan Services

We work extensively with clients affected by compliance with the Employee Retirement Income Security Act of 1974 ("ERISA"), Department of Labor regulations, collectively bargained agreements, Taft-Hartley matters, and multi-employer benefit plan rules. GHB's experience with a wide variety of custodians and third party administrators ("TPAs") helps us to efficiently and effectively resolve issues relating to custodian and operational matters.

We have significant experience in providing professional services to established 401 (k), pension and health and welfare organizations. In addition to 401 (k) plans, our experience includes defined benefit health and welfare plans, and defined contribution pension and profit sharing plans.

Peer Reviews

Our membership in the SEC Practice Section of the AICPA Division of Firms enables GHB to provide peer reviews to other public accounting firms practicing in and outside the public reporting arena. This important service to lenders, creditors and to the general investing public, examines a firm's adherence to quality controls, as well as professional auditing and accounting standards.