Tampa businesses that need to meet financial reporting standards often face one big question: Who actually provides GAAP-compliant audits locally?
These audits aren’t just about putting financials in order. They’re a requirement for companies in regulated industries, especially those in banking, insurance, or preparing for public filings.
If you’re based in Tampa and wondering where to turn, this guide breaks it down.
What Is a GAAP-Compliant Audit?
A GAAP-compliant audit is a formal evaluation of a company’s financial statements to ensure they align with Generally Accepted Accounting Principles (GAAP).
These standards are set by the Financial Accounting Standards Board (FASB) and are used nationwide to ensure consistent and transparent financial reporting.
During a GAAP audit, licensed CPAs verify your internal controls, account balances, and disclosure practices.
The result is an independent auditor’s report that offers credibility to investors, lenders, and regulators.
Do Tampa Businesses Need GAAP Audits?
Not every business needs one, but many are required by law or industry regulation to complete a GAAP-compliant audit. Common cases include:
- Public companies or those planning to go public
- Financial institutions such as banks, credit unions, and lenders
- Nonprofits that receive significant federal or state funding
- Private companies involved in mergers, acquisitions, or funding rounds
- Insurance agencies and firms in other heavily regulated sectors
If you’re unsure, a qualified CPA firm can help determine whether your business falls into one of these categories.
Who Performs GAAP Audits in Tampa?
One of the most experienced firms in the region is Hacker, Johnson & Smith PA. Based in Florida and focused on industries that require rigorous audits, their team handles complex GAAP engagements for financial institutions, insurance carriers, and nonprofit organizations.
Their GAAP audit services are tailored to businesses that must stay in compliance with both federal standards and Florida-specific reporting rules. They also maintain strong relationships with examiners and regulators throughout the state.
What Makes Hacker, Johnson & Smith the Right Fit?
With a dedicated audit division and decades of experience in the Tampa market, Hacker, Johnson & Smith offers more than just compliance. They deliver clarity and guidance during every stage of the audit.
Here’s what sets them apart:
- Registered Florida CPA firm with peer-reviewed quality standards
- Deep experience with financial institutions and regulated businesses
- Transparent timelines and project scopes
- Local support through their Tampa office
- Reliable audit reports that withstand regulatory scrutiny
Whether you need an annual audit or a one-time review for an upcoming transaction, their team can guide you through the process.
When to Contact a GAAP Audit Firm
Timing matters. If your fiscal year is ending soon, or if you’re preparing for financing or regulatory review, it’s smart to engage an audit firm early. GAAP audits are detailed and time-sensitive, and waiting too long can lead to rushed filings or compliance issues.
If you think your Tampa business may need a GAAP audit, or you’re not sure where to start, Hacker, Johnson & Smith PA is available to help. Their team can review your requirements and recommend the right steps forward.
Smart financial decisions start with the right conversation. Let’s figure out what works best for your business.
Additional Resources
- FASB: Understanding GAAP
- SEC Financial Reporting Requirements
- IRS: Audit and Compliance Tools
- Florida Office of Financial Regulation