Audits, Reviews &

ERISA Audits

Yellow Book Audits

System Review

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Financial Planning
    & Forecasting

Business Formations
    Mergers & Sales

Personal Financial

Tax Preparation &

Tax Planning &

Gift & Estate Tax

Business Succession

Bookkeeping & 

Sarbanes-Oxley Act
    Of 2002




In response to alleged improprieties by Enron, WorldCom and other major U.S. companies, the President signed into law, on July 30, 2002, the Sarbanes-Oxley Act of 2002.  The Act creates a quasi-governmental entity to oversee and to regulate publicly traded companies and the accountants that audit them.  Its purpose is to enhance the integrity and reliability of financial information available to stockholders and investors by increasing the number of independent parties responsible for issuing the financial statements, strengthening the independence of those already involved in the process, and providing for serious sanctions for violation of accounting and reporting rules.

The independence issue is of particular importance under the new law. Accounting firms that audit publicly traded companies are prohibited from providing certain non-audit services to those that they audit.  The prohibited services are:

  1. Bookkeeping or other services related to the accounting records or financial statements of the audit client;
  2. Financial information systems design and implementation;
  3. Appraisal and valuation services;
  4. Actuarial services;
  5. Internal audit outsourcing services;
  6. Management functions or human resources;
  7. Broker/dealer, investment advisor, or investment banking services;
  8. Legal services and expert services unrelated to the audit; and
  9. Any other service determined by regulation to be impermissible.

RTA provides non-audit services to publicly traded companies at very competitive rates.  If your organization has a need for bookkeeping, valuation, internal audit, or management services, and your current auditor is prohibited from providing such services, please consider us.  Our background and experience also qualifies us to provide tax preparation and other compliance services to your company.


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Romito, Tomasetti & Associates, P.C.