Padilla has extensive knowledge and experience in conducting government audits for over twenty years in accordance with the Generally Accepted Government Auditing Standards (GAGAS). Padilla has provide best in class audit services to several New York State and New York City agencies.
Padilla has the necessary capabilities to provide best in class auditing services to for-profit businesses in accordance with the AICPA Generally Accepted Auditing Standards (GAAS). Padilla audits provide reasonable assurance by means of an applicable standard on the fair presentation of a company’s financial statements.
Padilla has over twenty years of performing financial and compliance audits of various not-for-profit organizations. A portion of Padilla’s not-for-profit clients receive federal funding and require Office of Management and Budget (OMB) Uniform Guidance (formerly OMB Circular A-133). Additionally our not-for-profit clients encompass entities that provide community-based services such as health care, counseling, employment assistance, economic empowerment skill building, low-income housing projects and charitable activities.
Padilla’s compliance audits are comprehensive examinations of an organization’s adherence to specific and applicable regulatory and compliance requirements. Requirements could range from laws, regulations, and provisions of contracts or grant agreements.
Padilla contract and program audits focus not only on the fairness of the financial statements of a certain project or program stated in an agreement or contract, but also aims to determine the efficiency and effectiveness of a given program or executed contract.
Padilla review engagements are less extensive than the scope of an audit wherein our reviews are conducted to provide limited assurance that there are not material modifications that should be made to the financial statements in accordance with a financial reporting framework.