Crowdfunding and Financial Statement Audits

In the past weeks, the House of Representatives and Senate have passed back and forth legislation labeled the Jumpstart Our Business Startups (JOBS) Act.  This bill, among other things, allows companies to go through crowdfunding websites, such as kickstarter, to raise capital. The specific limits and restrictions are still being worked out.  For an explanation of crowdfunding follow this link.

At dbbmckennon, we have been keeping a close eye on this revolutionary piece of legislation that we believe, will potentially provide additional startup capital to smaller companies in order to bring their product or service to market.  As Certified Public Accountants (CPA), we too often see small companies fail or never reach their potential due to the inavailability of capital or lack of capital on acceptable terms. We believe this piece of legislation will relieve some of those difficulties.

At dbbmckennon we are uniquely positioned to provide the audits and/or reviews that may be required by this legislation, depending upon the level of funding  are seeking out.  Our business has and always will focus on the needs of small businesses, much like the ones that will benefit under the JOBS act.  In addition, our customers will get the assurance that they are working with a world class CPA firm that is registered with the Public Company Accounting Oversight Board (PCAOB) which allows us to audit public companies in which report to the Securities and Exchange Commission (SEC).  There is no higher level of qualification a CPA firm in which performs audits can obtain.  Our latest PCAOB report, reflected no comments, indicating that the quality of our work is in the upper echelon of all CPA firms nationwide.

As independent auditors, we enjoy seeing small businesses with an idea, a little money, and a big dream.  We look forward to being partners with all the small companies that will benefit from the JOBS act. If you have questions in connection with crowdfunding or would like to gain additional information regarding this topic. Please contact dbbmckennon at one of its two offices located in Southern California or via email.