Benefit Plan

Generally, Federal law requires employee benefit plans with 100 or more participants to have an audit as part of their obligation to file an annual return/report (Form 5500 Series). If an employee benefit plan is required to have an audit, one of the most important duties of the plan administrator is to hire an independent auditor for the plan. A quality audit helps ensure the financial integrity and protects plan assets. A quality audit also will help a plan administrator carry out its legal responsibility to file a complete and accurate annual return/report for the plan each year.

Schlenner Wenner & Co. is a member of the AICPA Employee Benefit Audit Quality Control Center, which provides Schlenner Wenner & Co. with additional resources and training to better facilitate and assist clients during and after the employee benefit plan audit.

For more information, please e-mail Molly Thompson at mthompson@swcocpas.com or call 320.251.0286.

Business Audit

Business entities can have from one to many owners conducting business in various types of ownership structures. They are taxable entities providing services and products in many different industries. Some of the industries we provide auditing services for are Manufacturing, Construction, Real Estate, Transportation, Wholesalers and Retailers.

Businesses may need audited financial statements for many of the following reasons:

  • Bank required due to debt financing obligations
  • Bonding requirements
  • To satisfy a contract or agreement
  • To satisfy local, county, state or federal requirements
  • Ownership is not involved with the day to day management of the company

For more information, please e-mail Brian Bastian at bbastian@swcocpas.com, or Brian Skluzacek at  bskluzacek@swcocpas.com, or you can call 320.251.0286.

City and Government

A governmental entity is one that is regulated or controlled by some form of the government. These entities can be a city, state, town, special district, joint venture or school district; to name a few. Some governmental entities, such as villages, towns, cities, townships, districts and joint ventures, require audited financial statements for many reasons. These reasons may be for debt/bond related purposes, to satisfy the requirements of a contract or grant, or to meet the provisions on local, county, state, or federal governments.

Schlenner Wenner & Co. offers report preparation and various financial statement services to governmental entities. Our firm is a member of the AICPA's Governmental Audit Quality Center as well as various other general accounting and auditing associations.

For more information, please e-mail Molly Thompson at mthompson@swcocpas.com, Jon Archer at jarcher@swcocpas.com, or Ryan Schmidt at rschmidt@swcocpas.com or call 320.251.0286.

Due Diligence

If a business acquisition is to have a reasonable chance of being successful, it must fit the business strategy of the acquiring company. The acquisition must be well planned, the acquisition candidate thoroughly investigated, and if acquired, appropriately incorporated into the private equity sponsor’s portfolio or our client’s business operations. Schlenner Wenner & Co. can assist with a successful match through the use of due diligence services.

For more information, please e-mail Molly Thompson at mthompson@swcocpas.com or call 320.251.0286.

Gambling

The services we provide for Lawful Gambling Activities are monthly report preparation, annual audits or reviews, preparation of forms 990 and 990T for the gambling activities, and consultations concerning the activities. 

For more information, please e-mail Brian Bastian at bbastian@swcocpas.com or Shelley Gaetz at sgaetz@swcocpas.com or call 320.251.0286.

Not-For-Profit

A not-for-profit corporation is a corporation formed to carry out a charitable, educational, religious, literary or scientific purpose. A nonprofit corporation doesn't pay federal or state income taxes on profits it makes from activities in which it engages to carry out its objectives. This is because the IRS and state tax agencies believe that the benefits the public derives from these organizations' activities entitle them to a special tax-exempt status.

Not-for-Profit Corporations need audited financial statements for many of the same reasons as do business enterprises. Schlenner Wenner & Co. can assist you with all your corporation needs.

For more information, please e-mail Molly Thompson at mthompson@swcocpas.com or Jon Archer at jarcher@swcocpas.com call 320.251.0286.

School Districts

Schlenner Wenner & Co. conducts financial audits of independent school districts in MN. The independent school districts are controlled by the MN Department of Education and are considered to be local government. The state of MN requires that independent school districts (and many other local government units) have an independent CPA perform a financial audit.

Our professional staff that performs these audits has a high level of expertise in auditing rules and in accounting rules. Our Firm has a high degree of responsibility to make sure the audits are conducted properly. Our Firm takes pride in the teams we have that perform these services.

For more information, please e-mail Molly Thompson at mthompson@swcocpas.com or Jon Archer at jarcher@swcocpas.com or call 320.251.0286.

Fire Relief Associations

Schlenner Wenner & Co. conducts financial audits and attestations of fire relief associations in MN. The State of MN requires that fire relief associations (and many other local government units) have an independent CPA perform a financial audits and attestations.

Our professional staff that performs these audits has a high level of expertise in auditing rules and in accounting rules. Our Firm has a high degree of responsibility to make sure the audits and attestations are conducted properly. Our Firm takes pride in the teams we have that perform these services.

For more information, please e-mail Molly Thompson at mthompson@swcocpas.com, Dan Sullivan at dsullivan@swcocpas.com or call 320.251.0286.