Innovation

 

The word “innovation” speaks to what we do. RESJ provides a wide array of accounting services. We strive to be a “one-stop shop” for financial planning, investment strategies, tax planning, financial statement preparation and so much more. This synergistic approach provides for customization of services to meet all of your business and personal needs.

Below is a listing of five broad categories we offer followed by more specific services. We would love to work with you to customize any of these services to meet your needs.

For more information on these innovative ways for personal and business accounting services, click here to contact us.

 

Accounting & Financial Services


The ever-changing business environment is constantly throwing curve balls. Changing markets with varying risk management objectives make it difficult for any leadership strategy to remain fixed. Business leaders must accept the axiom that the only constant is change itself. That is where the innovative accounting and financial services of RESJ become invaluable. RESJ’s commitment to innovation requires that we provide every client with the latest technology and experience for operational oversight. These accounting and financial services include:

    • Financial Statement Attestation
    • Compilations & Reviews of Financial Statements
    • Preparation of Forecasts & Projections
    • Special Financial Analysis & Consultations
    • Special Auditing & Accounting Services
    • Operations Reviews
    • Internal Control Reviews
    • Business Risk Services
    • Due Diligence

 

Tax Compliance & Advisory Services


Tax preparation is at the heart of RESJ’s innovative strategies. From tax planning to required government compliance, we offer the latest in professional tax preparation from a strategic management perspective. All RESJ tax professionals are equipped with the innovative practices necessary to engage the latest tax updates and laws in a relevant way for your success. Our tax compliance and advisory services include:

    • Strategic Tax Planning
    • Individual & Business Taxes
    • State & Local Taxes
    • Real & Personal Property Taxes
    • Sales & Use Taxes
    • Federal & State Payroll/Unemployment Taxes

Financial Planning & Estate Planning


Innovation in financial planning makes RESJ different from other consultants and brokers. Our process focuses on discovering who you are and how your goals and dreams fit into creating and implementing plans for financial success. We work to know you, gather information to form an innovative financial plan, recommend actions to carry out that plan, execute the plan, and make plan adjustments as life changes. RESJ financial planning services include:

    • Financial Planning
    • Asset Allocation
    • Retirement Planning
    • Educational Planning
    • Asset Management
    • Estate Planning
    • Tax Planning
    • Charitable Giving
    • Business Planning
    • Business Continuation

Business Consulting & CFO Outsourcing


RESJ offers a full range of professional service solutions that cut across traditional organizational and business segment lines in an innovative way. These services allow us to know your business in both a personal and professional way. Essentially, your business becomes our business. This close interaction allows us to provide innovative technology solutions and best business practices for your financial reporting and business consulting needs. It becomes more than business; it’s personal. Our business consulting and CFO outsourcing services include:

    • Formation & Structural Planning
    • Affiliation & Succession Planning
    • Operational Efficiency & Profitability Studies
    • Business Valuation Services
    • Merger & Acquisition Consulting
    • Business & Strategic Planning
    • Executive Recruitment & Compensation Modeling
    • Accounting & Internal Control Systems Reviews
    • Risk Management Reviews
    • Employee Benefit Planning

Information Technology Consulting


RESJ has partnered with a local technology consulting company to provide state-of-the-art sales, service and installation of all aspects of computer networking and office automation.

    • System Selection
    • Implementation & Conversion Assistance
    • Information Testing
    • Project Management
    • Security & Privacy
    • IT Operations Risk Management

Compliance – Audit, Examination & Advisory Services


Our audit staff has over 20 years of experience in performing audits on the processing of transactions by service organizations for the purpose of expressing an opinion on the policies and procedure placed in operation and tests of operating effectiveness, indicating if such policies and procedures were suitably designed to achieve specified control objectives during a test period. Review of internal controls, security, systems design and development, data control and operations. Types of service organizations audited include Federal and State medical bills claims processing, drug card claims processing, Domestic and International IT service providers, State lottery systems and commercial electronic bank confirmation systems.

LIST OF SERVICES

SOC Examinations
– SOC1/SSAE 16
– SOC2
– SOC3

Security Assessments
– HIPAA
– Vulnerability Assessment
– AT 101

Federal Assessments
– FISMA
– FISCAM
– NIST 800-53
– FedRAMP (Spring 2016)

Cloud Security Assessments
– CSA Star Certification
– CSA Star Attestation

Advisory Services
– Disaster Recovery
– Quality Assurance

SOC & NIST Audits defined…

Service Organization Control (SOC) Reports are internal control reports on the services provided by a service organization providing valuable information that users need to assess and address the risks associated with an outsourced service. This report is usually requested by an existing client or a company that is considering doing business with you.

The National Institute of Standards and Technology (NIST) publishes regulatory standards for the operation of Federal systems. They specify baseline control tests that need to be performed, depending on the type of system you are running and the criticality of the data contained therein. This report is a regulatory necessity and requires ongoing audit processes to both achieve and maintain an Authorization to Operate (ATO).

Your client, or potential business partner wants to know that you have policies & procedures in place that cover your physical security, logical security, development process, change control process, quality assurance, …… all the way to your business continuity plan.

Your client or potential business partner wants to verify that your daily, monthly, quarterly and annual processes are performed according to the policies & procedures (P&P) that you have in place.

The compliance auditor inspects, examines and performs tests on your processes to determine whether or not your controls are operating as specified in your P&P……. for a specified period of time.

Types of SERVICE ORGANIZATION CONTROL REPORTS

SOC 1 Reports on Controls at a Service Organization Relevant to User Entities’ Internal Control Over Financial Reporting: SOC 1 ® reports are examination engagements performed by a service auditor (CPA) in accordance with Statement on Standards for Attestation Engagements (SSAE) 16, Reporting on Controls at a Service Organization to report on controls at a service organization that are likely to be relevant to an audit of a user entity’s financial statements. Use of a SOC 1 ® report is restricted to existing user entities (not potential customers) and their auditors. There are two types of SOC 1 ® reports:

(i) Type 1 – A report on management’s description of the service organization’s system and the suitability of the design of the controls to achieve the related control objectives included in the description as of a specified date.

(ii) Type 2 – A report on management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period.

SOC 2 Reports on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality and Privacy: SOC 2 ® reports are examination engagements performed by a service auditor (CPA) in accordance with AT Section 101, Attest Engagements, of SSAEs (AICPA, Professional Standards, vol. 1) using the predefined criteria in TSP section 100, Trust Services Principles, Criteria, and Illustrations for Security, Availability, Processing Integrity, Confidentiality, and Privacy (AICPA, Technical Practice Aids). SOC 2 ® reports specifically address one or more of the following five key system attributes:

(i) Security – The system is protected against unauthorized access (both physical and logical);
(ii) Availability – The system is available for operation and use as committed or agreed;
(iii) Processing integrity – System processing is complete, accurate, timely and authorized;
(iv) Confidentiality – Information designated as confidential is protected as committed or agreed;
(v) Privacy – Personal information is collected, used, retained, disclosed and disposed of in conformity with the commitments in the entity’s privacy notice, and with criteria set forth in Generally Accepted Privacy Principles (GAPP) issued by the AICPA and Canadian Institute of Chartered Accountants. [The criteria in GAPP are the same as the criteria for the privacy principle in TSP section 100.]

Use of a SOC 2 ® report is generally restricted.

The two types of SOC 2 ® reports are:

Type 1 – A report on management’s description of the service organization’s system and the suitability of the design of the controls;

Type 2 – A report on management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls.

SOC 3 Trust Services Report for Service Organization: SOC 3 ® reports are examination engagements performed by a practitioner (CPA) in accordance with AT Section 101, Attest Engagements, of SSAEs (AICPA, Professional Standards, vol. 1) using the predefined criteria in TSP section 100, Trust Services Principles, Criteria, and Illustrations for Security, Availability, Processing Integrity, Confidentiality, and Privacy (AICPA, Technical Practice Aids). A SOC 3 ® report is a general-use report that provides only the auditor’s report on whether the system achieved the trust services criteria (no description of tests and results or opinion on the description of the system are provided). SOC 3 ® reports can be issued on one or more of the Trust Services principles (security, availability, processing integrity, confidentiality and privacy). SOC 3 ® reports are general-use reports.


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