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ORBA’s Audit Group takes pride in working with clients to provide a range of services that go beyond just the balance sheets to discover what’s driving – and inhibiting – financial performance. We help identify potential areas of improvement, evaluate options and deliver insightful solutions to owners and managers of companies of all sizes as well as not-for-profit organizations and associations throughout the Midwest.

Our audit services are tailored to your unique requirements and range from the most comprehensive audit of financial statements to compilations. Not only do we bring more than 40 years of experience working side-by-side with clients from a variety of industry sectors, we are continually monitoring new developments and applying best practices to maintain our high performance and quality standards.

Working in collaboration with colleagues across our firm, ORBA’s Audit Group offers a full-service approach that helps clients address a multitude of factors that impact their bottom line. Whether evaluating financial statements, accounting procedures, tax strategies, internal controls, technology, compliance matters or training programs, ORBA provides the insight and services needed to address today’s challenges and tomorrow’s opportunities.



An audit is the highest level of assurance that an accounting firm can provide on a set of financial statements.  At the conclusion of an audit, an accounting firm will express an opinion as to whether the financial statements are in compliance with the accounting rules. Because investors, lenders and regulators often rely on audited financial statements to determine with which companies they do business, using an experienced firm like ORBA to conduct a thorough audit is a wise investment.

An audit can also provide much more than an opinion on your financial statements. At ORBA, we also view the audit process as an opportunity to learn more about your business and to provide you with recommendations in areas where there may be opportunities to improve your operations. Our experience with clients of similar size and that are in similar industries often allows us to identify ways to positively impact your bottom line, strengthen internal controls or streamline processes for efficiency. As a result of an ORBA audit, many clients have the information they require to maximize their financial performance. When providing information to outside parties, ORBA clients can take confidence that their financial statement accuracy has been verified by one of Chicago’s premier accounting firms.

Financial Statement Review

A review of your financial statements can be an efficient, cost-effective and meaningful alternative to an audit. In a review, ORBA’s Audit Group applies analytical procedures to financial data and makes inquiries of management in order to collect key information that will provide limited assurance on your financial statements. In many instances, a review will provide the necessary financial detail required by lenders and will also offer the financial insight that owners and management desire. ORBA’s Audit Group can assist you in determining if a review of your financial statements is the right option to fit your needs.


ORBA’s Audit Group is also experienced in providing clients with compiled financial statements. While not as robust as audits or reviews, this basic level of service presents financial information in the form of financial statements, which may be sufficient for some clients’ immediate requirements. Because there is no in-depth exploration, compilations do not provide assurance of the accuracy of the financial statements, nor are they accompanied by material modification recommendations.

Bookkeeping Services

Accurate and timely bookkeeping provides the backbone for a successful organization’s financial well-being. Unfortunately, many organizations do not have the experience nor the time available to properly address this important business function. 

ORBA’s Accounting Services Group can help bridge the gap. We offer a wide range of bookkeeping services on an annual, quarterly, monthly, or even daily basis. With ORBA, your organization’s management can count on having up-to-date, accurate financial information required to make important financial assessments and decisions. 

Yellow Book and Single Audits

All organizations that rely to any extent on funding sourced from the U.S. federal government in any fiscal year are subject to governmental audit reporting requirements. Known as the Yellow Book, these stipulations require auditors to perform additional testing of internal controls as well as a confirmation of compliance with federal program rules and regulations. In addition, any organization with at least $500,000 ($750,000 starting with December, 2015 audits) of funding sourced from the federal government is subject to additional single audit requirements. A single audit is administered according to the guidelines established by the Office of Management and Budget (OMB) that are released annually in the form of Circular A-133 documents.

Because audit guidelines are updated frequently, an organization’s federal programs should be consistently monitored to ensure that all expenditure requirements are followed in accordance with the latest rules. At ORBA, we know that interpretation and implementation of prescribed program guidelines can be extremely cumbersome; often there is very little guidance from regulators to help those seeking clarification. That’s where ORBA plays a critical role. Our CPAs and accounting professionals consistently perform Yellow Book and single audits for clients from a variety of sectors, including educational institutions and social service organizations. We offer comprehensive analysis of the use of grant funds and work closely to ensure our clients meet all grantor-reporting requirements. 

Agreed-Upon Procedures

There are some circumstances where our clients and other third parties are only interested in certain accounts or certain transactions. In these cases, a full audit, review or compilation may not be needed or required. An agreed-upon procedures engagement is a type of service in which ORBA, the client and/or any third party agree that the ORBA will perform specific procedures determined by the client/third party and report on the findings. The agreed-upon procedures engagement can be focused on financial and/or nonfinancial information. 

In such an engagement, the auditors’ report will include only the factual findings, not an interpretation of their meaning, so the parties will be required to draw their own conclusions. The report will list the procedures performed and the findings with respect to those procedures. The report will include a statement that it is intended for use only by the client and/or the third party, and that it should not be used by anyone besides these parties. 

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