Accounting & Auditing
At Barfield, Murphy, Shank & Smith, we perform well over 100 audits each year and collectively have over 100 years of audit experience.
The more training and experience an auditor has, the more familiar they will be with industry practices, operations and audit standards. BMSS is committed to providing our team with the training, experience and resources necessary to provide the most efficient and effective auditing solutions to our clients.
As a member of the AICPA Peer Review Program, we meet industry standards of quality control and have passed every peer review. Membership in the AICPA Center for Audit Quality involves voluntarily adhering to additional training, quality control, and internal inspection and is a testament to our dedication to achieving audit quality. We are registered with the Public Company Accounting Oversight Board (PCAOB) and qualified to audit publicly traded companies.
At BMSS, we utilize a five-step approach to provide efficient and effective accounting and auditing solutions:
- Interactive planning
- On-going, open communication
- Close coordination with our clients' staff, board or committee members
- State-of-the-art auditing techniques utilizing advanced technology
- Timely, appropriate management letters
BMSS believes in the importance of open communication. Continuous feedback is encouraged and input is welcome. We strive to work closely with clients which eliminates duplication of effort, creates a more efficient and effective approach to accounting and auditing and maximizes their investment.
We are an early adopter of industry-leading audit software, processes and programs. Our workflow management system allows staff to know the exact status of every project and allows us to easily provide clients with project updates. Automation of tasks allows us to focus on providing quality technical services and add value to our clients.
Paperless and electronic audit documentation, along with online bank confirmations, saves time and costs. BMSS has used paperless documentation and processing since 2003 and received the “Practice Innovation Award” from Practical Accountant for our early, successful adoption of going paperless. We have helped clients and other businesses implement paperless processes in their offices as well.
Our accounting and auditing professionals are prepared to help you with:
- Financial statement audit
- Financial statement compilation & review (What is the difference between an audit, compilation and review?)
- A-122 or A-133 audits (Single audits or "Yellow Book")
- ALDOT overhead rate audit
- Agreed-upon audit procedures
- Employee benefit plan audits
- Federal Acquisition Regulation (FAR) audits
- Internal controls
- QuickBooks consulting
- Service Organization Control reports (SOC) - formerly SSAE 16 & SAS 70
- SEC Transactions
“From an accounting firm, I expect three things: Independence from management, Value, & Timeliness. I believe that BMSS is a strong group of auditors who provide a good value for the money. I rely on their judgment as a check and balance on my companies. I’ve worked with them since 1999.”
- Financial services CFO
“We have been a very satisfied client of Barfield, Murphy, Shank & Smith since 2000. We have found the staff to be very knowledgeable and professional in all aspects of their accounting services. Our audited financial statements are prepared on a very timely basis along with various other tax reports/returns completed during the year. More importantly, as we have learned, is the character and integrity of BMSS who earned the trust and respect of our senior management.”
- Manufacturing company CFO
I have worked closely with many people at Barfield, Murphy, Shank & Smith and have been very impressed with the quality of service and personnel within the firm. I can attest that the audit approach utilized by the firm is very thorough and complete. I have been impressed with the firm’s process and dedication to perfection and client service and I highly recommend any of the numerous services provided by BMSS.”
- Financial services controller
BMSS Accounting & Auditing Professionals
Michael Eanes and his family live in Homewood and are members of Trinity United Methodist Church. He graduated from Auburn University with a B.S. in Accounting and a Mas... read more
“Barfield, Murphy, Shank & Smith knows our business and is one of the few firms that understands the way construction accounting is done. We’re proud to be charter clients.”