Hugh Scott is registered with the Public Company Accounting Oversight Board (PCAOB) and qualified to audit U.S. public companies. Our SEC Services Group focuses on serving publicly traded mid-sized and emerging-growth companies in a wide variety of industries. Our audits are specifically designed with consideration for your company’s internal controls, systems and personnel.
Our audit approach is designed to minimize business and audit risk associated with the audit process of public entities by maintaining high quality client acceptance standards. Our policies seek out relationships with company management who have a high degree of integrity and competence. Each engagement is reviewed by a partner who is not part of the engagement team in order to provide an objective assessment of the audit and accounting issues and financial statements before they are finalized.
We regularly provide guidance to our clients with their prospectuses, proxy statements, Form S-1’s, and Form 10-Q's and 10-K’s. We are also experienced with reverse mergers and Form 10 transactions as a way of going public. We can guide companies through the IPO process, working with you and your SEC counsel on your Form S-1 and prospectus and the audit of your financial statements under PCAOB audit standards. We continually keep our clients informed of the latest SEC and Financial Accounting Standards Board (FASB) developments, and we maintain an active involvement with audit committees to ensure their participation.
Outsourced Services for SEC Registrants
In addition to SEC audit services, Hugh Scott also provides non audit services for SEC registrants. We are most effective for registrants in the growth phase of their development who are looking to outsource some of the more technical aspects of the public reporting requirements. We have experience in the following service areas:
Outsourced accounting and bookkeeping
Preparation of financial statements and footnotes
Preparation of Form 10-K and 10-Q, including MD&A
Preparation of prospectuses and registration statements, including pro-forma disclosures
Reverse acquisition transactions
GAAP research
Assistance with responses to SEC comment letters
Sarbanes-Oxley 404 internal controls documentation and testing
Analysis of complex debt and equity transactions
Outsourced internal audits
Tax compliance
Income tax provisions and deferred taxes
Uncertain income tax position analysis
Mergers and acquisitions due diligence
Valuation of goodwill and intangibles
Impairment analysis for long-lived assets and goodwill
Purchase price allocations
Service on audit committee as financial expert
At Hugh Scott, we believe strongly that quality counts. Therefore we have put in place some of the highest-quality SEC reporting and auditing training programs for our professional staff given by organizations such as The SEC Institute, the PCAOB, PPC Auditwatch, and the AICPA. This translates into efficient audits, fewer SEC comment letters, and better financial reporting for our SEC registrant clients.