Audits, Reviews and Compilations Services

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We have embraced more stringent requirements instituted by the accounting profession in recent years because they compliment our long-standing procedures and methods. The result is an in-depth understanding of your entire operation and greater assurance of the reliability of your financial statements.

We provide financial reporting on all three levels of assurance:

  • Audit- an intensive examination with the highest level of assurance.
  • Review - some analytical procedures conducted with limited assurance
  • Compilation - based upon client information provided and used primarily for internal use.

Regardless of the level of assurance service provided, one fundamental concept remains the same and that involves our understanding your unique entity.  By coupling our insight into your business with the level of assurance needed, we can more efficiently and effectively plan and perform the work.

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Attestation, Agreed-Upon Procedures and Assurance Services

Attestation engagements are most appropriate for those clients who have assurance needs that don't require an audit of financial statements.  Rather, they require procedures to be applied to their financial reporting processes and controls.  In attestation engagements, we examine, review or apply agreed-upon procedures to subject matter.  The form of the subject matter varies from client to client and may include historical or prospective performance, break-even analyses, or internal control systems and processes.  In addition to performing agreed-upon procedures, our attestation services can also include reporting on proforma information or completing SAS 70 reports.

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Employee Benefit Plan Services

HR professionals are commonly overwhelmed with supervising daily personnel and administrative matters, including their fiduciary responsibilities.  Because federal law requires audits of employee benefit plans with more than 100 participants, these professionals are faced with the additional burden of familiarizing themselves with the regulations in this rapidly changing area.   

With over 15 dedicated professionals, our benefit plan audit specialists are accustomed to working around these multiple demands.  And, we are equipped with the experience and knowledge to make the audit process as seamless as possible for you and your HR professionals.   

Even though an ERISA audit report does not generate profits for your company, we understand that failure to comply with reporting requirements can be costly.  As a member of the AICPA’s Employee Benefit Plan Audit Quality Center, we are committed to achieving the highest standards in performing quality benefit plan audits to ensure your company does not face significant repercussions, including plan disqualification.


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Fraud, Defalcation, Forensic Accounting Services

A growing challenge for many businesses is the protection of its assets and income from acts of fraud and defalcation.  To be effective, a forensic accountant must have extensive experience in the fields of audit and accounting, and we do.  Our professional in this area may work as an independent expert to conduct an examination, render an opinion, and if necessary, provide expert testimony.  Because of their in-depth experience, they are also called upon to review business' accounting systems and, make recommendations as to how the system of internal controls and internal checks can be improved to prevent theft and fraud.

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Governmental and Not-For Profit Services

The audit of government and not-for-profit organizations represent significant area of specialty within our Audit and Assurances Services Group. We invest heavily in the training and development of our professionals working in this area.

Our professionals are on the leading edge of the rapidly changing governmental environment by staying abreast of new government regulations and the auditing and accounting standards affecting governmental accounting.  We bring a proven track record of experience, focusing on high quality service and value for all governmental clients.

Our not-for-profit practice serves organizations fulfiliing various charitable and community functions ranging from the arts to health and human services.  We understand the distinctive challenges that not-for-profits entities face, and have tailored our approach for assessing the control environment and control risks.

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Mergers and Acquisition Due Diligence Services

The merger or acquisition of a new business is a significant financial event that carries the potential for risk and exposure.  Our experts provide our clients with valuable insight concerning the target company's financial health, financial statement accuracy, control environment, financial and accounting systems and personnel, as well as physical and non-physical assets.  We acquire this knowledge with proven fact-based assessment, substantiation, testing and inquiry. We seek to confirm the "known", as well as identify the previously "unknown" material concerns.

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Risk Management and Compliance Services

Thompson Dunavant’s Risk Management and Compliance group provides business and compliance solutions for the financial, operational and technological risks that companies face everyday.

In response to the uncertainty and volatility of today’s economic environment, financial reporting transparency and improved regulatory responses will become mandatory. Thompson Dunavant can help you improve accountability throughout your organization and infrastructure.

We assist businesses with:

  • Internal Audit
  • XBRL Implementation
  • Sarbanes-Oxley Compliance
  • IFRS Awareness & Adoption
  • Information Technology Governance
  • SAP/ORACLE Implementation, Upgrade or Archiving Services
  • Operational Risk Management
  • SAP/ORACLE Governance, Risk & Compliance Mgmt
  • SAS 70 (Type I & II)
  • Network & Application Penetration Testing
  • Financial & Fraud Risk Assessments
  • Source Code Review
  • PCI Compliance Support

Click here to download more information about our Risk Management and Compliance group.

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SAS 70 Assurance Services

In today's fast paced and complex business arena, a due diligence process is needed to assure corporation's of the safety and integrity of their data when being handled by a third party organization. SAS 70 audits provide this very assurance by examining, documenting, and if needed, testing a wide array of internal controls within these "service organizations". The passing of the Sarbanes-Oxley Act of 2002 coupled with increased regulatory mandates and guidelines for businesses have propelled SAS 70 audits into the forefront of the business arena. If you are an organization providing outsourcing services to a company, you may be called upon to have a SAS 70 audit.

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