Frequently asked questions

An audit gives the highest level of assurance — the CPA independently verifies the numbers; a review gives limited assurance based mainly on analysis and inquiry; a compilation simply presents financial statements without any assurance. Banks, investors and boards often specify which one they require.

It depends on your state registration rules, your bylaws, your funders' requirements, and — if you receive federal awards — whether you cross the Single Audit threshold. A licensed CPA can walk through which of these apply to your organization.

Generally once a retirement plan crosses the participant-count threshold the Department of Labor treats as a "large plan," an annual audit is required as part of the plan's Form 5500 filing. The exact count and rules can change, so confirm current thresholds with a CPA who handles benefit plan audits.

No — Texas has no state personal income tax. Texas does have a franchise tax that applies to many business entities, with its own rules and thresholds, which a CPA can explain for your specific business.

The IRS will typically contact you by mail first, either requesting specific documentation (a correspondence audit) or scheduling a more detailed review. A CPA experienced in IRS representation can communicate with the IRS on your behalf and help you prepare a response.

Every active CPA in Texas is licensed and can be verified through the Texas State Board of Public Accountancy. It's reasonable to ask a CPA for their license number and confirm it before engaging them for an audit or tax work.

CPAs and auditors can list for free, or sponsor a ZIP code so that every client request from that ZIP code — across all service categories — is routed exclusively to them.