Assurance built for professional-services firms.
AsuraTrust provides independent audit, review, and other assurance services designed for law firms and accounting practices.
Professional firms run on trust and partner alignment: client funds are held apart from firm funds, fees are earned across work-in-process that hasn’t been billed yet, and partner capital moves with admissions, retirements, and buyouts. The parties around the firm — lenders, landlords, and the partners themselves — expect financial reporting they can rely on. Our engagements are built around the reporting issues that define the industry: trust and fiduciary balances, WIP and unbilled receivables, and partner capital accounts. AsuraTrust is a Tampa-based CPA Firm licensed in the state of Florida, and our remote engagement model allows us to serve legal and accounting practices in the Tampa area and beyond.
Whether your lender or lease requires financial statements, or a partnership transition calls for numbers everyone can stand behind, schedule a free consultation today.
Who relies on a firm’s financial statements.
Lenders & Landlords
Lenders and landlords increasingly require reviewed or audited financial statements for credit lines, leasing, and partnership transactions.
Partners & Buy-Ins
Admissions, retirements, and buyouts turn on partner capital accounts — numbers every side of the table needs to trust before signing.
Trust-Account Obligations
Law firms maintaining IOLTA and other client trust accounts are subject to state bar compliance requirements — independent procedures on reconciliations and controls can support that obligation.
Practice Transactions
Practice sales, mergers, and succession plans bring diligence — buyers and successors want a reliable picture of earnings and working capital.
The reporting issues that define professional firms.
WIP & Unbilled Receivables
Work-in-process and unbilled receivables are a recurring revenue recognition focus under ASC 606 — fees are earned before they’re billed, and realization estimates drive what the statements report.
Trust & Fiduciary Balances
Client funds held in trust must stay cleanly segregated from firm funds — in the accounts themselves, in the controls around them, and in how the statements present them.
Partner Capital & Distributions
Capital accounts and distribution arrangements require accurate tracking — especially through succession, buyouts, and changes in the partner group.
Cash vs. Accrual Reporting
Many practices keep their books on a cash or tax basis, while outside users may ask for accrual-based statements — engagements can be scoped to the framework the user of the statements requires.
Engagements we perform for legal & accounting firms.
Audits
Independent financial statement audits conducted under GAAS — the highest level of assurance for lenders, landlords, and partnership transactions.
Reviews
Financial statement reviews offer a cost-effective, moderate level of assurance that many lenders and lessors accept from professional practices.
Compilations & Preparation
Compilations and financial statement preparation deliver professionally prepared statements — on an accrual, cash, or tax basis — when assurance isn’t required.
Agreed-Upon Procedures
Agreed-upon procedures deliver targeted, factual reports — including procedures over trust-account reconciliations and controls — for partners, regulators, or other stakeholders.
Internal Controls
Internal controls consulting brings practical discipline to billing, trust handling, and the segregation challenges of a small back office.
Quality of Earnings
Quality of earnings analyses support practice acquisitions and successions with a clear view of sustainable earnings.
Serving more than professional firms — explore all of the industries we serve.
Segregation and oversight start with the basics — our guide to internal controls best practices for small businesses is a practical place to start.
Questions professional firms ask us.
Does our firm actually need an audit?
Usually it’s driven by someone else’s requirement — a lender, a lease, or a partnership agreement. Where no assurance is required, a review, compilation, or preparation engagement is often the better fit, and we can help you match the engagement to the ask.
Can you look at our trust-account compliance?
Yes — through agreed-upon procedures or an examination over trust-account reconciliations, controls, and activity. Requirements vary by state bar, so the engagement is scoped to the obligation your firm actually has.
Our books are cash-basis — is that a problem?
No. Engagements can be performed on the framework your statements’ users require — cash, tax, or full accrual — and we can help you understand what a conversion would involve before anyone commits.
Can our engagement be performed remotely?
Yes. Our remote engagement model is designed for it — document exchange, walkthroughs, and status meetings all happen remotely, with the same professional standards and the same licensed CPA supervision.
Considering an audit or review?
Connect with us to discuss how our services can provide the support you need.
Schedule a Consultation