Benefit from Our Risk-Related Insights During the Audit Process
BKD provides assurance solutions to a variety of clients, including standalone for-profit, not-for-profit, and governmental organizations providing skilled nursing, assisted living and independent living services, Life Plan Communities (CCRC), and some of the country's largest for-profit and not-for-profit chain providers.
Our clients finance their operations through a variety of methods, including bonds and various federal loan programs offered by the U.S. Department of Agriculture (USDA) and U.S. Department of Housing and Urban Development (HUD).
Our audit teams include personnel who are dedicated to serving senior living and long-term care providers and understand the intricacies of long-term care reimbursement and common operational challenges that affect your financial statements. Our risk-based approach includes audit programs tailored to your needs and we can provide valuable insight into these risk areas:
- Accounts receivable valuations
- Deferred revenue (CCRC contracts)
- Insurance reserves
- Internal controls
- Investment valuation
- Revenue recognition
- Third-party settlements
- Future service obligation
Employee Benefit Audits
BKD audits more than 1,200 employee benefit plans a year, helping clients with complex and specialized accounting, financial reporting, tax (plan qualification) regulations, and legal requirements. Auditor expertise is especially critical in this area because the U.S. Department of Labor (DOL) scrutinizes the filed annual reports and can fine the plan administrator for deficiencies in the audited financial statements. The DOL also can review the audit workpapers for adherence to professional standards.