National Leadership, Local Impact
One of Cohen & Company’s primary commitments revolves around providing a rigor in technical excellence that helps us better serve our clients. Our associates proactively seek out and complete numerous hours of technical training and research annually, often exceeding state licensing requirements. We attend quarterly department-wide trainings, weekly collaboration sessions, and outside technical trainings and conferences. Each service line also holds annual, often multi-day training programs on technical and business issues relevant to our clients.
Below are a few additional ways we remain committed to technical excellence and help shape industry standards that impact our clients.
PCAOB Registration and Compliance
Cohen & Company has been registered with the Public Company Accounting Oversight Board (PCAOB) since 2003 and is inspected by the PCAOB to assess our compliance with the rules of the PCAOB and SEC and professional standards. Our 2018-2020 PCAOB inspections were each completed with zero engagement performance issues.
The firm is one of only 11 firms (out of more than 1,700 PCAOB registered firms in the U.S. and abroad) inspected annually. As one of the select few on this list, we are held to the same strict level of scrutiny as the largest firms nationwide in assessing compliance with professional standards.
The firm has participated in a peer review every three years since its inception. During each review, outside auditors evaluate our adherence to firm and industry policies and procedures relating to the performance of our work. We have received the best possible rating in each review in our history, including our most recent peer report in which we received the prestigious “pass opinion.”
American Institute of Certified Public Accountants (AICPA)
We are a member of the American Institute of CPAs and its practice sections, including the Employee Benefit Plan Audit Quality Center, Private Companies Practice Section and the Governmental Audit Quality Center, as well as the associated Center for Audit Quality. Additionally, our practitioners currently serve or have served at the highest levels of the AICPA:
Partnership Taxation Technical Resource Panel
State and Local Taxation Technical Resource Panel
Investment Companies Expert Panel
Financial Reporting Framework for Small- and Medium-Sized Entities
Major Firms Group Chair
Women's Initiatives Executive Committee
Nominations Committee and Group of 100
Task Force on Private Company Financial Reporting
Auditing Standards Board
Technical Issues Committee
Benevolent Fund Board of Trustees
August Tax Clinic edition (annual editor)
Additional Industry Involvement
We also impact a variety of other areas:
Served on the Financial Accounting Standards Board’s (FASB) Small Business Advisory Committee and Not-for-Profit Advisory Committee
Testified before Congress on specific tax initiatives
Presented comment letters to the IRS regarding proposed tax regulations
Served as college professors
Had successful private letter rulings with the IRS
Speakers at local, state and national accounting, auditing, tax and investment industry forums, seminars and trainings