Client: Multi-location, Multi-generational, Recently Transitioned Construction Client
Services: Audit, Tax, Lease, Valuation, 401k Audit, Individual Tax Work, and Succession Planning
How it Started
Through Schneider Downs’ high-profile work within the construction industry throughout our region, our Firm enjoyed a friendly relationship with a closely-held, multi-location, multi-entity, multi-generational construction company, even though they weren’t a client (yet). Our two organizations shared many common relationships, including insurers, bankers, and peers from the industry. This familiarity led to the opportunity to take our relationship further.
Born Ready
The organization soon realized that its current provider was facing capacity challenges, which were becoming apparent in the service they received. Recognizing that Schneider Downs had both experience and a sizable construction accounting team, the company approached our firm to discuss a possible relationship. What began as an invitation to assist with their current need soon evolved into deeper discussions about more proactive and complex business solutions that the company had previously not explored.
From our initial meeting about the audit and tax work, our teams began identifying areas of interest. We noticed they were accounting for their extensive leasing activities manually, and were without a formalized process or plan. When we offered to set them up with our simpLEASE software, they endorsed the idea immediately. Along the way, Schneider Downs introduced several additional service ideas that could present new opportunities to the client – soon we were engaged to do their corporate audit, 401k audit, extensive tax work, including individual taxes for the owners and lease accounting, as well as assist with valuation projects. Because the client was so interested in new ideas, they were especially receptive to the “best practices” conversations led by our construction experts. Collectively, our services helped them not only address current needs but also identify opportunities to prepare for the future.
How it's Going
Quality relationships are worth the wait….and the effort. Schneider Downs built a dedicated team of construction experts to tackle these assignments collectively, and, after an excellent first year, that same team will return in its entirety. In that first year, because our teams worked together so closely, we quickly identified that a restructuring initiative had exacerbated some delays in preparing financial statements for audit. So, to assist their overextended finance department, the Schneider Downs team took that responsibility off their hands. Problem solved. It’s what good partners do.
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Contact an Audit & Tax Advisor Today
Not only is their professional and experience so valuable to our organization, their availability throughout the engagement and any time throughout the entire year is terrific and that line of communication is very helpful and adds value to their services.
Competent friendly people who know [the education] industry.
The People, they make the firm successful… their knowledge is what I look for in an accounting firm.
We had the pleasure of working with an exceptionally professional and knowledgeable team on our SOX 404 audit for the 2024 cycle. The team navigated the complexities of a first-year review with precision and efficiency. They stayed on budget, which was no small feat given the scope and depth of the work involved.
I’ve worked with SD for a long time and my experiences don’t vary. Strong firm leaders have been attached to our nonprofit. As much as one can say “we loved having our auditors on site”, we do!
The engagement of the SD team in our business is welcoming. This is both on the audit and tax side. I really like how the Partner-In-Charge of both sides and I work together to make sure we achieve the desired outcomes from our respective teams in the time frames agreed upon.
We’ve had an amazing SD team. My experience has been that they have a partnership approach and are focused on education and identifying areas for continuous improvement.
Their timeliness is exceptional. I have enjoyed working with the same staff over the years. Keeping the same staff, is important to me.
The people and their in depth knowledge and caring
They are always professional and provide timely insights when asked.
Schneider Downs’ engagement teams are hand-selected by our shareholders based on skill sets and experience and are available around the clock for consultation. Each attestation engagement is subject to our comprehensive quality control and risk management system, providing an independent review of audit opinions, related financial statements and significant underlying working papers, to ensure that the highest levels of professional standards are met.
To learn more, visit our dedicated Audit and Assurance page.
