We tailor our audit approach to the needs and characteristics of each client and invest time to become familiar with each client’s business and accounting systems.
|Preparation & Planning: LBMC’s service model begins with detailed planning and agreed to timelines to ensure that deadlines and expectations are met. LBMC commits to meeting with our clients on a monthly or quarterly basis.|
|Collaboration: The LBMC audit team partners with you as an extension of your own internal resources, acting as not merely a service team, but as an advisor to the operation of your enterprise.|
|Responsiveness: As an extension of your internal resources, the LBMC audit teams are committed to providing timely and accurate solutions and are able to pivot quickly to meet the needs of your business.|
Employee Benefit Plan Audit Services
LBMC audits approximately 300 employee benefit plans annually, and we are a Top 1% benefit plan auditor in the nation. Our in-depth knowledge includes ongoing training and annual CPE requirements, guaranteeing a keen understanding of the latest technical and financial requirements. As a top 25 benefit plan auditor in the nation, we have the experience that allows us to tailor our audit approach to the needs and characteristics of each client.
Internal audit services can be used throughout a company’s operations. The primary purpose of internal audit services is to help identify and assess operational, financial and compliance risks that a company faces, and then identify and assess the internal controls in place to mitigate those risks. Internal audit services involve both process and system reviews.
Lease Accounting Services
The new lease accounting guidance presents an opportunity to proactively implement new processes and policies while simultaneously taking inventory of your company’s lease populations, in order to assess the impact on future financial reporting.
Services include data extraction, process mapping, internal controls, change management, software advisory, software readiness, financial impact modeling, and impact analysis on debt covenant calculations.
Service Organization Control (SOC Reports)
Service organizations that provide key third-party outsourcing services often need to be accountable to the clients they serve. These organizations include claims processors, application service providers, benefits administrators, payroll companies, data centers, and many others. System and Organization Control Reports (SOC 1, SOC 2, SOC 3 reports) provide three new reporting vehicles developed for service organizations to respond to demands for uniform reporting and review—expanding service organizations’ ability to report on financial controls, non-financial controls and, with SOC 3, become certified trusted system service organizations.
Transaction Advisory Services (Due Diligence)
Our Integrated TAS team has decades of experience assisting corporate and private equity clients in financial, tax, structuring, reimbursement, billing and coding, information technology, and human resource/ benefit due diligence on both the buy and sell sides of M&A transactions. Our approach is flexible and tailored to each client’s specific needs – creating a long-term, professional partnership that usually lasts well after the deal closes.
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Who is LBMC?
Initially founded as a traditional accounting firm in 1984, LBMC has become the largest professional services solutions provider in Tennessee. Beyond our tax, audit and advisory services, we’ve become industry leaders in accounting and finance, human resources and recruiting, technology, risk and information security, procurement, and wealth advisory services for both businesses and individuals. We can be your one-stop-shop for all your business needs.
We primarily work with the following companies and industries:
- Manufacturing service companies
- Middle market companies
- Private equity groups
- Technology companies
LBMC’s Team of Tennessee Auditors
We’re happy to answer any questions you may have. Please send us an email using the form and one of our professionals will get back to you promptly.
Headquarters (Nashville, TN):
201 Franklin Road
Brentwood, TN 37027
P.O. Box 1869
Brentwood, TN 37024-1869
Office Hours: 8am-5pm, Monday-Friday
605 Chestnut Street
Chattanooga, TN 37450
2095 Lakeside Centre Way
Knoxville, TN 37922
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