# WhippleWood CPAs > Audit, Assurance & Advisory — Denver CPA Firm Website: https://whipplewoodcpas.com/ Phone: 303-989-7600 Email: info@whipplewoodcpas.com Address: 11852 Shaffer Drive, Building B, Littleton, CO 80127 Founded: 1981 Memberships: Allinial Global, Colorado Society of CPAs, AICPA Last updated: 2026-04-13 ## About WhippleWood CPAs is a Denver-area CPA firm specializing in audit, assurance, benefit plan audits, and compliance services. We serve businesses, nonprofit organizations, and regulated industries throughout Colorado and nationally. ## Services ### Forensic Accounting URL: https://whipplewoodcpas.com/services/forensic-accounting/ Forensic Accounting Experience WhippleWood CPAs works with businesses and attorneys in Colorado and throughout the United States to investigate fraud, uncover evidence, and provide findings suitable for presentation in court or legal proceedings. Our team members are both Certified Public Accountants (CPAs) and members of the AICPA Forensic and Valuation (FVS) section. Through the membership, team members receive ongoing training on the latest methods and techniques impacting forensic accounting and fraud investigation. The result is peace of mind that comes from knowing you have the right team on your side. Forensic Accounting Services Accountant Liability Disputes Business Valuations Complex Damages Forensic Investigations Forensic Due Diligence Insurance Loss Accounting Insurance Preparation Assistance Records Examination White Collar Criminal Activity ### Consulting URL: https://whipplewoodcpas.com/services/consulting/ Running a successful business brings many questions that any business owner may feel overwhelmed with. Our team offers a variety of business advisory services to help you understand your financial position, the impact of certain business transactions, and can provide accurate reporting to help your team understand what lies ahead. Our team of advisors help business owners make informed decisions by providing transparent financial reports and offering fresh solutions to the specific challenges you face. Our Consulting Services Business Valuations Determine accurate business value for transactions, succession planning, buy/sell agreements, estate planning, partner disputes, or divorce proceedings. Our CVA-certified team delivers defensible reports recognized by courts and the IRS. Forensic Accounting Investigate fraud, uncover evidence, and provide findings suitable for court or legal proceedings. Our team includes CPAs and AICPA Forensic and Valuation (FVS) section members. Strategic Advisory Buy/sell transactions Mergers and acquisitions Succession planning Benchmarking Operational Improvement Management consulting Process improvement Business analysis Internal controls Financial Advisory Optimizing outside financial capital Financial systems strategy – selection and implementation Investigation & Litigation Support Fraud protection Litigation support Technology consulting ### Financial Audits URL: https://whipplewoodcpas.com/services/financial-audits/ Independent audit opinions for Denver businesses—ensuring your financial statements are presented fairly and comply with Generally Accepted Auditing Standards (GAAS). Why Your Business Needs a Financial Statement Audit As Denver businesses grow, financial requirements become more complex Debt & Loan Covenants Lenders typically require audited financial statements to verify compliance with loan agreements and assess your organization's financial health before extending credit or renewing existing facilities. Regulatory Requirements Many industries and government contracts require audited financials to maintain good standing. Meeting these compliance requirements protects your business relationships and avoids regulatory penalties. Stakeholder Confidence Investors, partners, and board members need independent assurance that financial statements are presented fairly, in all material respects, in accordance with Generally Accepted Auditing Standards (GAAS). Supplier & Partner Agreements Major suppliers and business partners often require audited financial statements to establish your creditworthiness and verify financial stability before entering into significant contracts or agreements. The WhippleWood Audit Difference The unique blend of technical expertise and practical experience allows us to deliver insights to management: GAAS Compliance Full compliance with Generally Accepted Auditing Standards Management Insights Practical recommendations that go beyond required reporting Deadline-Driven On-time delivery to meet your covenant and regulatory deadlines Cost-Effective Right-sized audit solutions for organizations of all sizes Our Financial Statement Audit Process Risk Assessment & Planning During this phase, our team becomes familiar with your business and operating environment: Business and operating environment assessment Industry-specific risk identification Material misstatement risk evaluation Audit scope and timeline planning Internal Controls Evaluation Our team gains an understanding of internal control in order to plan the audit: Asset safeguarding procedures Segregation of duties review Authorization rules and access controls Control deficiency identification Audit Fieldwork This is the time when our team is actively involved in testing processes and collecting audit evidence: Accounts receivable and payable testing Fixed assets and depreciation review Debt and equity verification Revenue and expense substantiation Inventory observation and testing Audit Report & Findings Our team and your organization's management will review drafts of the financial statements: Financial statement draft review Disclosure completeness verification Management discussion of findings Board or audit committee presentation Recommendations for improvement From Planning to Opinion Whether this is a first-time audit or you have been undergoing one for years, our structured approach ensures a smooth, efficient process. Phase 1 Planning Our team becomes familiar with your business and operating environment to identify areas with the greatest risk of material misstatements. Phase 2 Fieldwork Our team tests processes and collects audit evidence across accounts receivable, payable, fixed assets, debt, revenue, expenses, and inventory. Phase 3 Delivery We review drafts with management, discuss audit findings and recommendations with your personnel, and present to your audit committee or board. Schedule Your Free Consultation → Meet Your Audit & Assurance Experts Experienced CPAs dedicated to delivering quality audit and assurance services Rick Whipple Managing Partner, CPA Co-founded WhippleWood in 1981 after beginning his public accounting career in 1978. Rick's passion for small businesses has taken him to the White House and Capitol Hill, advocating for policies that help entrepreneurs thrive—earning him recognition as a finalist for the National Small Business Advocate of the Year Award. "I have to be knowledgeable and listen intently to each client's challenges to find a solution that works best for them." CPA License: CO #5486 · Masters in Tax Law, University of Denver Ron Bass Partner, Audit Services Leads WhippleWood's audit practice since 2010, bringing 30+ years of experience including a decade at Florida's largest CPA firm. Ron has audited publicly traded corporations, benefit plans, nonprofits, and international entities—with deep expertise in IFRS, Single Audits, and peer reviews. His philosophy: "My clients and I actually have the same goal—for the financial statements to be right. If you approach it from that angle, you're on the same team." CPA License: CO #32216 · FL #AC0024348 Kacey Hertel CPA Joined WhippleWood in 2013, drawn by the firm's commitment to "putting the fun back in CPAs." Specializing in audit and tax services, Kacey is highly proficient with QuickBooks and works closely with clients to help them understand their numbers. "At the end of the day, I just want my clients to feel like they understand the story their financials are trying to tell them—and watching them reach their goals is so rewarding." CPA License: CO #29716 Free Audit Preparation Resources Download our audit readiness checklist and document request template to prepare for your engagement. Download FREE Templates ▶ Keywords: financial statement audits ### Benefit Plan Audits URL: https://whipplewoodcpas.com/services/benefit-plan-audits/ DOL-compliant audits for 401(k), pension, and employee benefit plans — helping plan sponsors meet fiduciary obligations with precision. When Your Plan Requires an ERISA Audit Managing an employer-sponsored retirement plan brings increasing complexity as your plan grows. Large Plan Threshold Once your plan crosses 100 active participants, there is a requirement to undergo an annual ERISA audit. This "large plan" status triggers compliance requirements that must be addressed promptly. ERISA Compliance Plan operations must comply with the Employee Retirement Income Security Act. Audits test various aspects of operations, financial reporting, and administration against ERISA requirements. Stakeholder Assurance The findings not only provide stakeholders with assurance the plan is in compliance with regulations, but also provide management with access to best practices and important insights. Form 5500 Requirements Large plans must attach an independent auditor's report to their annual Form 5500 filing. Missing or late filings can result in significant penalties. The WhippleWood Benefit Plan Audit Difference We bring focused experience to every engagement — delivering insight beyond the audit report to strengthen plan administration. AICPA EBPAQC Member Ongoing training through the Employee Benefit Plan Audit Quality Center Best Practice Insights Management receives actionable recommendations beyond required testing Deadline-Driven On-time delivery to meet Form 5500 filing deadlines Colorado Experience Years of experience with defined contribution plans across Colorado Benefit Plan Audit Services Defined Contribution Plans including 401(k) and 403(b) Plans Comprehensive audits for employer-sponsored retirement plans of all sizes, from first-year to well-established. ERISA Compliance Testing to ensure plan operations comply with regulations set forth in the Employee Retirement Income Security Act. ERISA Section 103(a)(3)(c) or Full Scope Audits Limited-scope audits when investment information is certified by a qualifying institution, or full-scope audits when certification is not available. Form 5500 Preparation & Submission Annual reporting compliance support including preparation, review, and electronic filing of required schedules. Plan Operations & Reviews Evaluation of plan operations, processes, and procedures to ensure compliance and identify opportunities for improvement. Plans Requiring a SEC Form 11-K Filing Annual reports for employee stock purchase plans and 401(k) plans with employer stock at publicly traded companies. First-Year Audit or Annual Engagement Whether your plan just crossed the 100-participant threshold or you are continuing annual compliance, our structured approach keeps the process efficient and on schedule. Phase 1 Planning We review your plan document, coordinate with your recordkeeper and custodian, and establish the audit timeline around your Form 5500 deadline. Phase 2 Fieldwork Our team tests contributions, distributions, participant eligibility, and plan operations, working closely with your HR and payroll teams. Phase 3 Delivery We present findings, deliver your audit report for Form 5500 attachment, and provide recommendations for plan administration improvements. Schedule Your Audit Consultation → Meet Your Audit & Assurance Experts Experienced CPAs dedicated to delivering quality audit and assurance services Rick Whipple Managing Partner, CPA Co-founded WhippleWood in 1981 after beginning his public accounting career in 1978. Rick's passion for small businesses has taken him to the White House and Capitol Hill, advocating for policies that help entrepreneurs thrive—earning him recognition as a finalist for the National Small Business Advocate of the Year Award. "I have to be knowledgeable and listen intently to each client's challenges to find a solution that works best for them." CPA License: CO #5486 · Masters in Tax Law, University of Denver Ron Bass Partner, Audit Services Leads WhippleWood's audit practice since 2010, bringing 30+ years of experience including a decade at Florida's largest CPA firm. Ron has audited publicly traded corporations, benefit plans, nonprofits, and international entities—with deep expertise in IFRS, Single Audits, and peer reviews. His philosophy: "My clients and I actually have the same goal—for the financial statements to be right. If you approach it from that angle, you're on the same team." CPA License: CO #32216 · FL #AC0024348 Kacey Hertel CPA Joined WhippleWood in 2013, drawn by the firm's commitment to "putting the fun back in CPAs." Specializing in audit and tax services, Kacey is highly proficient with QuickBooks and works closely with clients to help them understand their numbers. "At the end of the day, I just want my clients to feel like they understand the story their financials are trying to tell them—and watching them reach their goals is so rewarding." CPA License: CO #29716 Free Benefit Plan Audit Resources Download our audit preparation checklist and Form 5500 deadline guide. Download FREE Templates ▶ Keywords: benefit plan audit ### Financial Compilation & Review URL: https://whipplewoodcpas.com/services/financial-compilation-review/ Limited assurance engagements for Denver businesses — giving stakeholders confidence that your financial statements are free of material misstatement, without the cost of a full audit. When You Need More Than a Compilation Lenders, investors, and creditors often require assurance that your financial data is accurate — but a full audit may be more than you need. Debt & Loan Covenants Banks, investors, or creditors require third-party assurance on your financials before extending credit or making investment decisions. A review meets many covenant requirements at a lower cost than an audit. Cost Considerations A full audit involves extensive testing, internal control evaluation, and third-party confirmations. Reviews provide meaningful assurance through analytical procedures and inquiries—at a fraction of the cost. Limited Assurance Needs You need confirmation that nothing material is misstated, but don't require extensive audit verification. A review provides middle-ground assurance through analytical procedures and management inquiries. Stakeholder Requirements Lenders, investors, or creditors may require reviewed financial statements to demonstrate financial health. Reviews offer the assurance they need without the higher cost and longer timeline of a full audit. How WhippleWood Delivers Review Value Our review engagements are built around efficiency and clarity — meeting your stakeholder requirements without unnecessary complexity. Analytical Expertise Thorough analytical procedures comparing current-period, prior-period, and industry data Management Inquiries Meaningful discussions about operations, accounts, and financial relationships Responsive Timelines A straightforward process designed around your stakeholder deadlines Clear Communication Plain-language explanations of findings and any required adjustments Our Financial Statement Review Process Analytical Procedures Comprehensive analysis to identify unusual trends or relationships: Comparison of current-period and prior-period financial data Review of account relationships and ratios Identification of unexpected fluctuations or anomalies Management Inquiries Structured discussions with your team to understand operations: Accounting policies and procedures review Significant transactions and events discussion Discussion of operations with management Financial Statement Assessment Evaluation of your statements against the applicable framework: GAAP, Tax, or IFRS framework compliance Disclosure completeness review Material misstatement identification Review Report Delivery Reporting that meets your stakeholder requirements: Independent accountant's review report Limited assurance conclusion Description of procedures performed Framework identification Our Review Engagement Process A structured approach that delivers timely results while maintaining quality and independence. Phase 1 Planning & Understanding We learn your business, review prior financials, and establish the scope and timeline for your engagement. Phase 2 Procedures & Inquiry We perform analytical procedures, conduct management inquiries, and evaluate your financial statements against the applicable framework. Phase 3 Report & Delivery We discuss findings, address adjustments needed, and deliver your independent review report to meet stakeholder deadlines. Schedule Your Review Consultation → Meet Your Audit & Assurance Experts Experienced CPAs dedicated to delivering quality audit and assurance services Rick Whipple Managing Partner, CPA Co-founded WhippleWood in 1981 after beginning his public accounting career in 1978. Rick's passion for small businesses has taken him to the White House and Capitol Hill, advocating for policies that help entrepreneurs thrive—earning him recognition as a finalist for the National Small Business Advocate of the Year Award. "I have to be knowledgeable and listen intently to each client's challenges to find a solution that works best for them." CPA License: CO #5486 · Masters in Tax Law, University of Denver Ron Bass Partner, Audit Services Leads WhippleWood's audit practice since 2010, bringing 30+ years of experience including a decade at Florida's largest CPA firm. Ron has audited publicly traded corporations, benefit plans, nonprofits, and international entities—with deep expertise in IFRS, Single Audits, and peer reviews. His philosophy: "My clients and I actually have the same goal—for the financial statements to be right. If you approach it from that angle, you're on the same team." CPA License: CO #32216 · FL #AC0024348 Kacey Hertel CPA Joined WhippleWood in 2013, drawn by the firm's commitment to "putting the fun back in CPAs." Specializing in audit and tax services, Kacey is highly proficient with QuickBooks and works closely with clients to help them understand their numbers. "At the end of the day, I just want my clients to feel like they understand the story their financials are trying to tell them—and watching them reach their goals is so rewarding." CPA License: CO #29716 Free Review Preparation Resources Download our review preparation checklist and learn what to expect from the engagement process. Download FREE Templates ▶ ### Peer Review URL: https://whipplewoodcpas.com/services/peer-review/ Looking for a mid-size firm to assist with your upcoming peer review? WhippleWood CPAs provides thorough, collegial reviews with a commitment to technical expertise and best practice sharing. When Your Firm Needs a Peer Review CPA firms performing attest services must demonstrate commitment to quality through peer review. AICPA Requirements CPA firms performing audits, reviews, compilations, or other attest services must undergo peer review every three years to maintain AICPA membership and meet state licensure requirements for practice. Quality Control Assessment An objective, external evaluation of your firm's quality control policies and procedures helps identify areas for improvement and ensures full compliance with professional standards and best practices. State Board Compliance Many state boards of accountancy require peer review enrollment as a condition of licensure for firms performing attest services. Staying compliant protects your firm's ability to serve clients effectively. Client Confidence Demonstrating peer review compliance shows clients that your firm meets professional standards and is committed to delivering quality services. A clean peer review report builds lasting trust and credibility. The WhippleWood Peer Review Approach We provide thorough, collegial peer reviews focused on helping your firm improve quality and meet professional standards: Fresh Perspective Objective assessment of your firm's policies and procedures Technical Expertise Deep knowledge of professional standards and requirements Collegial Process Constructive feedback focused on improvement, not criticism Best Practice Sharing Practical recommendations to enhance your firm's quality Our Peer Review Services System Reviews Comprehensive review for firms performing audits, reviews, or examinations: Quality control system evaluation Engagement selection and testing Compliance with professional standards Report issuance and recommendations Engagement Reviews Focused review for firms performing compilations or preparations: Selected engagement reading Compliance verification Report on engagement quality Improvement recommendations Pre-Review Consultation Help your firm prepare before the official review: Gap analysis of current policies Quality control policy updates Issue identification and correction Staff training on standards Quality Control Consulting Assistance developing or improving firm procedures: Quality control policy development Engagement templates and checklists Supervision and review procedures Documentation standards The Peer Review Process A collegial process designed to evaluate quality and help your firm improve. Phase 1 Planning We review your firm profile, select engagements, and coordinate timing to minimize disruption to your practice. Phase 2 Fieldwork We evaluate your quality control system and review selected engagements, discussing findings as we go. Phase 3 Reporting We issue our report, discuss results with firm leadership, and provide recommendations for continuous improvement. Book Your Free Consultation → Meet Your Audit & Assurance Experts Experienced CPAs dedicated to delivering quality audit and assurance services Rick Whipple Managing Partner, CPA Co-founded WhippleWood in 1981 after beginning his public accounting career in 1978. Rick's passion for small businesses has taken him to the White House and Capitol Hill, advocating for policies that help entrepreneurs thrive—earning him recognition as a finalist for the National Small Business Advocate of the Year Award. "I have to be knowledgeable and listen intently to each client's challenges to find a solution that works best for them." CPA License: CO #5486 · Masters in Tax Law, University of Denver Ron Bass Partner, Audit Services Leads WhippleWood's audit practice since 2010, bringing 30+ years of experience including a decade at Florida's largest CPA firm. Ron has audited publicly traded corporations, benefit plans, nonprofits, and international entities—with deep expertise in IFRS, Single Audits, and peer reviews. His philosophy: "My clients and I actually have the same goal—for the financial statements to be right. If you approach it from that angle, you're on the same team." CPA License: CO #32216 · FL #AC0024348 Kacey Hertel CPA Joined WhippleWood in 2013, drawn by the firm's commitment to "putting the fun back in CPAs." Specializing in audit and tax services, Kacey is highly proficient with QuickBooks and works closely with clients to help them understand their numbers. "At the end of the day, I just want my clients to feel like they understand the story their financials are trying to tell them—and watching them reach their goals is so rewarding." CPA License: CO #29716 Peer Review Resources Download our peer review preparation checklist and quality control policy guide. Download FREE Resources (Limited Time) ▶ ### PCAOB Registered URL: https://whipplewoodcpas.com/services/pcaob-registered/ WhippleWood CPAs is registered with the Public Company Accounting Oversight Board, bringing public company audit standards to private businesses preparing for IPO, M&A, or growth transactions. When PCAOB Standards Matter Private companies planning significant transactions benefit from PCAOB-compliant financial statements. IPO Preparation Going public typically requires at least three years of audited financial statements prepared in accordance with PCAOB standards. Starting early ensures a smoother, more seamless path to your public offering. M&A Transactions Selling to a public company requires rigorous due diligence on your financial statements. PCAOB-compliant statements streamline the acquisition process and strengthen your negotiating position significantly. Growth & Exit Planning Exit planning is more seamless when you already have years of PCAOB-compliant financial statements in place. Planning ahead preserves flexibility and options when the right opportunity finally arrives. Cost & Timeline Efficiency WhippleWood delivers PCAOB quality standards without Big 4 costs and extended timelines. As a mid-size firm, we offer competitive rates, faster delivery, and the same rigorous public company standards. The WhippleWood PCAOB Advantage A mid-size firm with public company experience—delivering PCAOB quality without the overhead or extended timelines: PCAOB Quality Standards Full compliance with PCAOB auditing standards for public companies Clean Inspection Record "No comments" received on PCAOB inspections—the best possible outcome Significant Cost Savings Competitive rates compared to larger firms serving public companies Experienced Leadership 10+ years of public company audit experience on our team Our PCAOB Services PCAOB Audits Full audits meeting public company standards: Audits for IPO preparation (three or more years recommended) Annual audits for public company compliance PCAOB quality standards at competitive rates Faster timelines than larger firms typically offer Audit Preparation Services Get ready for your PCAOB audit by another firm: Supporting schedules and disclosures preparation Documentation organization and completion Staff time reduction—we handle the prep work Audit-ready presentation when the auditors arrive M&A Due Diligence Support Prepare for acquisition by a public company: PCAOB-standard financial statement preparation Due diligence documentation Buyer presentation materials Gap analysis and remediation Transaction support through close IPO Readiness Assessment Evaluate your path to going public: Current state assessment against PCAOB requirements Gap identification and remediation roadmap Timeline and resource planning Internal control evaluation Path to PCAOB Compliance Whether you need PCAOB audits or preparation for another firm's audit, we help you meet public company standards on your timeline. Phase 1 Assessment We evaluate your current financials, identify gaps relative to PCAOB standards, and create a clear roadmap for compliance. Phase 2 Execution We perform the audit or prepare your documentation, working efficiently to minimize disruption to daily operations. Phase 3 Completion You receive PCAOB-compliant financial statements or audit-ready documentation for your upcoming transaction. Book Your Free Consultation → Meet Your Audit & Assurance Experts Experienced CPAs dedicated to delivering quality audit and assurance services Rick Whipple Managing Partner, CPA Co-founded WhippleWood in 1981 after beginning his public accounting career in 1978. Rick's passion for small businesses has taken him to the White House and Capitol Hill, advocating for policies that help entrepreneurs thrive—earning him recognition as a finalist for the National Small Business Advocate of the Year Award. "I have to be knowledgeable and listen intently to each client's challenges to find a solution that works best for them." CPA License: CO #5486 · Masters in Tax Law, University of Denver Ron Bass Partner, Audit Services Leads WhippleWood's audit practice since 2010, bringing 30+ years of experience including a decade at Florida's largest CPA firm. Ron has audited publicly traded corporations, benefit plans, nonprofits, and international entities—with deep expertise in IFRS, Single Audits, and peer reviews. His philosophy: "My clients and I actually have the same goal—for the financial statements to be right. If you approach it from that angle, you're on the same team." CPA License: CO #32216 · FL #AC0024348 Kacey Hertel CPA Joined WhippleWood in 2013, drawn by the firm's commitment to "putting the fun back in CPAs." Specializing in audit and tax services, Kacey is highly proficient with QuickBooks and works closely with clients to help them understand their numbers. "At the end of the day, I just want my clients to feel like they understand the story their financials are trying to tell them—and watching them reach their goals is so rewarding." CPA License: CO #29716 PCAOB Resources Download our PCAOB fact sheet and IPO readiness checklist. Download FREE Resources (Limited Time) ▶ ### Business Valuations URL: https://whipplewoodcpas.com/services/consulting/business-valuations/ Denver Business Valuations Business owners may need to ascertain the value of a business for potential transactions, succession planning, buy/sell agreements, financing, estate planning, partner disputes, divorce proceedings, or as part of a forensic accounting investigation. Business Valuation Experience WhippleWood CPAs has worked with owners and attorneys across Denver and throughout the United States, and has conducted dozens of valuations across a broad range of industries. Team members have earned the Certified Valuation Analyst (CVA) certification offered by NACVA, and are recognized as "qualified appraisers" by courts and the IRS. This combination of technical expertise and practical experience allows us to accurately assess value drivers, evaluate trends, and generate accurate valuation reports that are defensible and appropriate for the circumstances. ## Industries Served ### Nonprofit organizations URL: https://whipplewoodcpas.com/industries/nonprofit-accounting/ For nonprofit organizations, we handle nonprofit bookkeeping, Form 990s, grant tracking, audits, and nonprofit financial statements—saving 20+ hours a month. 40+ years serving 200+ Colorado nonprofits Same-day grant compliance reporting Board-ready financials in 48 hours The Reality of Nonprofit Financial Management Running a nonprofit means balancing mission delivery with complex financial requirements Grant and Fund Management Multiple funding sources mean multiple reporting requirements. Each grant has its own restrictions, reporting timelines, and compliance standards that must be tracked accurately. Audit and Compliance Demands Financial statement audits, Form 990 preparation, and state registrations all require meticulous record-keeping and technical knowledge of nonprofit accounting standards. Transparency Requirements Your board, staff, donors, and the public expect clear, accurate financial reporting. Meeting these standards while managing day-to-day operations requires significant time and expertise. Resource Constraints Every dollar spent on administration is a dollar not going to programs. You need efficient, cost-effective financial management that maximizes your impact. How WhippleWood CPAs Makes the Difference We focus on your mission by handling the complexity. Our approach combines nonprofit expertise with modern efficiency: Right-sized solutions From basic bookkeeping to full audit and consulting services Proactive guidance Anticipate issues before they become problems Technology-driven Automation that saves time and reduces errors Knowledge transfer Your team learns while we work Comprehensive Nonprofit Accounting Services Core Accounting & Bookkeeping Monthly maintenance and reporting that keeps you audit-ready: Financial statement preparation Reconciliations and transaction coding AP/AR management Board and stakeholder reporting QuickBooks optimization Grant & Fund Management Never miss a restriction or deadline: Fund accounting and restriction tracking Compliance monitoring Budget vs. actual by program Funder-specific reporting Grant audit documentation Consulting & Advisory Expert guidance for complex nonprofit decisions: Business valuations and asset appraisals Forensic accounting and fraud prevention Internal controls and policy development Strategic advisory for mergers and restructuring Audit & Tax Support Stay compliant with confidence: Financial statement audits, reviews, and compilations Form 990 preparation and filing UBIT planning State registrations Audit preparation and coordination Financial Reporting & Compliance Clear reporting that satisfies every stakeholder: Board-ready financial statements Funder and donor reporting packages State registration and compliance filings Indirect cost rate calculations From Chaos to Clarity in 30 Days Our nonprofit accounting sprint gives you structure, controls, and partner-level visibility in phases so teams aren’t overwhelmed and leadership gets clean numbers fast. Week 1–2 Discovery We benchmark your current close, map systems, and surface every blocker keeping you from timely board-ready reporting. Week 3–4 Foundation We rebuild the chart of accounts, automate reconciliations, and deploy grant and restriction tracking that withstands audits. Month 2+ Partnership We serve as your dedicated accounting and compliance team, delivering clean financials, board-ready reports, and proactive compliance alerts. Book Your Free Consultation → Meet Your Nonprofit Accounting Experts Experienced CPAs dedicated to supporting nonprofit organizations Rick Whipple CEO, CPA Co-founded WhippleWood CPAs in 1981 with over 40 years of experience. Passionate advocate for small businesses and nonprofits. CPA License: CO #5486 · Masters in Tax Law, University of Denver Randall Joens Director, Client Accounting Services Director of Client Advisory Services. Improves accounting, efficiency, and compliance; turns complex numbers into clear insight. CPA License: CO #0032327 · BS Accounting & BA Economics, CSU Mitch Clark Partner, Tax Services Entrepreneurial CPA who joined in 2012. Focuses on communicating complex tax and business issues clearly to clients. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Free Nonprofit Accounting Tools Download our grant tracking template, board report checklist, and 990 preparation guide. Download FREE Templates (Limited Time) ▶ Ready to Focus on What Matters? Let's discuss how WhippleWood CPAs can strengthen your financial management while you strengthen your community. Schedule Your Free Consultation Questions? info@whipplewoodcpas.com | 303-989-7600 Keywords: nonprofit accounting ### Auto Dealership URL: https://whipplewoodcpas.com/industries/auto-dealership/ Auto Dealership Accounting Our firm has provided expert outsourced accounting services to auto dealerships since the 1990s. We continually hone our knowledge and understanding of the auto industry, allowing our advisors to offer a variety of accounting and financial management services, some of which include: Financial statement audits and reviews Tax planning, including enterprise zone credits and "Buy Here/Pay Here" strategies Business valuations for buy/sell transactions Succession planning for family businesses Internal control procedures and process improvement Forensic accounting CLIENT SATISFACTION “We were freaking out when we found out our long-time accountant was retiring. Who would ever be able to understand our complicated business? After interviewing many CPA firms, we decided on WhippleWood CPAs. We were surprised at how quickly they were able to understand our books and our different, intertwined companies. They have been excellent—always professional and accurate—and they are a pleasure to work with.” — Massa Auto Pawn ### Real Estate And Construction URL: https://whipplewoodcpas.com/industries/real-estate-and-construction/ Construction Accounting Our team is an expert at navigating the risks and complexities of the construction and real estate industries. Doing business in these industries requires managed cash flow, innovative tax strategies and informed decisions when evaluating potential acquisitions and dispositions. We’ll guide you through these challenges—whether you’re a general contractor, subcontractor, architectural firm, developer or engineering firm. Our clients include building owners, property managers, agents, brokers, builders and developers. We maintain a thorough understanding of the highly competitive and demanding concerns of project management, state and local regulations, bonding and surety relationships, tax compliance, job cost estimation and accumulation, and percentage-of-completion accounting. Count on our professionals to help you build a strong business foundation. TEAM APPROACH Our CPAs use a team approach to provide accounting services that meet your company’s goals. We offer services including financial statement audits, tax consulting, forensic accounting, business valuations, strategic advisory for acquisitions and succession, and internal controls evaluation. ### Energy URL: https://whipplewoodcpas.com/industries/energy/ Energy Accounting Whether drilling for oil or installing solar panels, energy producers face many unique challenges. Our experienced team provides strategies and solutions that can help your business thrive. Our clients span the energy industry, including upstream and midstream oil and gas companies, cleantech, owners of working and royalty interests and environmental remediation companies. We can help you with: Tax planning and compliance for energy producers Advisory services for federal, state and local tax incentives Financial statement audits and reviews Business valuations Strategic advisory for acquisitions and dispositions WE SUPPORT THE INDUSTRY Our firm actively participates and takes leadership positions in industry organizations. Energy production provides jobs for our family and neighbors, revenue for our roads and schools, and direct and indirect investments that grow the Colorado and national economies. We support the industry because energy—from all its sources—powers our lives. ### Hospitality URL: https://whipplewoodcpas.com/industries/hospitality/ Restaurant Accounting WhippleWood is a preferred vendor for McDonalds franchisees and have partnered with many since the early 1990s. We also serve numerous other food and beverage clients, from Chick-Fil-A franchisees to family owned restaurants. We possess in-depth understanding of the complex tax issues of this unique line of business, as well as the financial reporting requirements of the franchisor. Our team provides business tax consulting expertise to numerous franchisees involved in the process of buying and selling restaurants to position them in maximizing value and minimizing tax problems. We understand the value drivers in this business, and the tax ramifications of buy/sell transactions. CLIENT SATISFACTION “I have used WhippleWood CPAs since 1991. The main reason is not just about the accounting work, but more importantly the relationship with the partners and all of the staff, the high quality of work for the price, the availability for any question anytime, getting up-to-date information and education on a regular basis.” — McDonald’s Franchise Owner ### Franchisees And Franchisors URL: https://whipplewoodcpas.com/industries/franchisees-and-franchisors/ Franchise Accounting You may have a dream of expanding your franchise business or of building a family legacy you can pass forward. That’s the long-term goal. Short-term, you need proactive cash flow monitoring and a clean chart of accounts. You may also need to strategize on tax planning or financing or saving for retirement. We’re here for you. With more than 30 years of experience, beginning with a well-known food and beverage franchise, WhippleWood CPAs has expanded into services for a variety of franchise industries. We understand the goals of the franchisor and how each business model must translate into careful management and growth for franchisees. We also love the relationships with owners who want to live life on their terms and make a difference. With our team’s guidance, you can manage your business well and also clearly understand your finances. On that foundation, you are empowered to succeed in today’s dynamic, franchise business environments while building personal wealth, too. DID YOU KNOW? WhippleWood CPAs is highly recommended among multi-location franchisees within the healthcare and wellness industry, as well as the food and beverage industry. Our work with owners in the same industry reinforces our knowledge of fee structures, cash flow monitoring, tax planning and reporting, assurance, and strategic advisory services. You gain this experience throughout the life cycle of your franchise. ### Healthcare & Wellness URL: https://whipplewoodcpas.com/industries/healthcare-and-wellness/ Healthcare Accounting As an expert in the health and wellness industry and as a business owner, you have a lot to manage when operating successful franchise. Partnering with WhippleWood provides a full-service experience to help you operate your business and you’re your professional goals. While we support your business, we always have you and your family in mind. Services we provide to support your business goals include: Tax planning, preparation and reporting Financial statement audits and reviews Business valuations for franchise transactions Forensic accounting Cash flow monitoring and forecasting Assurance services As your trusted advisor, we are available to guide you through complicated business decisions. Focus on what you know and love in the health and wellness industry, and we will take care of the rest. ### Manufacturing & Distribution URL: https://whipplewoodcpas.com/industries/manufacturing-and-distribution/ Manufacturing Accounting We understand that in your search for profitable and stable business lines, you’re dealing with fundamentally different customers, supply chain relationships, product safety issues, health and safety concerns and labor issues. We’ll focus on helping you reform internal operations to gain better controls and increased productivity, so you can meet delivery requirements and cost restrictions while responding quickly to your customers’ needs. PROFESSIONAL ASSISTANCE The challenges facing the Manufacturing & Distribution industry include accounting, tax preparation and operational issues. Our team approach delivers solutions that meet your company’s goals. Our professional assistance includes financial statement audits and reviews, tax consulting, internal controls evaluation, forensic accounting, business valuations, and strategic advisory. WhippleWood advisors are here to help. Learn more about our consulting and advisory services to better support your Manufacturing & Distribution business decisions. ## Team ### Yoonmi Kim CPA Title: Senior Manager, Tax Service URL: https://whipplewoodcpas.com/team/yoonmi-kim/ ### Kacey Hertel CPA Title: Manager, Audit Services URL: https://whipplewoodcpas.com/team/kacey-hertel-cpa/ LinkedIn: https://www.linkedin.com/in/kacey-weberg-hertel-cpa-4a694381/ Education: University of Northern Colorado ### Emily Howard, CPA Title: Firm Administrator URL: https://whipplewoodcpas.com/team/emily-howard/ LinkedIn: https://www.linkedin.com/in/emily-howard-68a955131/ ### Randall Joens CPA Title: Director, Client Accounting Services URL: https://whipplewoodcpas.com/team/randall-joens/ LinkedIn: https://www.linkedin.com/in/randall-joens-cpa-2687a344/ Education: Colorado State University ### Qiang Guo CPA Title: Manager, Tax Services URL: https://whipplewoodcpas.com/team/qiang-guo-cpa/ LinkedIn: https://www.linkedin.com/in/qiang-guo-cpa-087441111/ Education: University of Denver (DU); Texas A&M University ### Rick Whipple CPA Title: Managing Partner URL: https://whipplewoodcpas.com/team/rick-whipple/ LinkedIn: https://www.linkedin.com/in/richard-whipple-4785165/ Education: University of Denver (DU); University of Colorado ### Mona Feeley CPA Title: Partner, Tax Services URL: https://whipplewoodcpas.com/team/mona-feeley/ LinkedIn: https://www.linkedin.com/in/mona-feeley/ Education: University of Colorado ### Mitch Clark CPA Title: Partner, Tax Services URL: https://whipplewoodcpas.com/team/mitch-clark/ LinkedIn: https://www.linkedin.com/in/mitchell-clark-cpa-32749916/ Education: Indiana University - Bloomington ### Ron Bass CPA Title: Partner, Audit Services URL: https://whipplewoodcpas.com/team/ron-bass/ LinkedIn: https://www.linkedin.com/in/ronald-s-bass-cpa-cva/ Education: University of Georgia; Georgia State University ### Steve Barkmeier CPA Title: Director, Tax Services URL: https://whipplewoodcpas.com/team/steve-barkmeier/ LinkedIn: https://www.linkedin.com/in/sbarkmeier/ Education: Regis University ### Chris Job CPA Title: Manager, Tax Services URL: https://whipplewoodcpas.com/team/chris-job/ LinkedIn: https://www.linkedin.com/in/christopher-job-cpa-59998740/ Education: University of Denver; Rice University ## Frequently Asked Questions ### When is a financial statement audit required? Source: https://whipplewoodcpas.com/services/financial-audits/ Audits are typically required to comply with debt or loan covenants, satisfy regulatory requirements, meet supplier agreement terms, or fulfill stakeholder needs such as investor reporting or board oversight. ### What is the difference between an audit, a review, and a compilation? Source: https://whipplewoodcpas.com/services/financial-audits/ An audit provides an independent opinion on whether financial statements are presented fairly in accordance with Generally Accepted Auditing Standards (GAAS). A review provides limited assurance through analytical procedures and inquiries. A compilation involves preparing financial statements from client-provided data without providing any assurance. ### How long does an audit take? Source: https://whipplewoodcpas.com/services/financial-audits/ Timing depends on your organization's size and complexity. We deliver a deadline-driven audit solution, working backward from your deadline—whether that is a loan covenant date, board meeting, or regulatory filing—to deliver on time while minimizing disruption. ### What do we need to prepare? Source: https://whipplewoodcpas.com/services/financial-audits/ We provide a detailed request list tailored to your organization. Typical items include bank statements, accounts receivable and payable aging reports, fixed asset schedules, debt agreements, and access to your accounting system. Thorough preparation reduces audit time and cost. ### Can you help if we have never had an audit before? Source: https://whipplewoodcpas.com/services/financial-audits/ Absolutely. Whether this is a first-time audit or you have been undergoing one for years, WhippleWood CPAs stand ready to assist. We guide you through the entire process, explain each requirement, and help you establish systems that make future years easier. ### What happens after the audit? Source: https://whipplewoodcpas.com/services/financial-audits/ We discuss audit findings and recommendations in detail with your personnel and your audit committee or board of directors. Our unique blend of technical expertise and practical experience allows us to deliver insights to management beyond the required reporting. ### When is a benefit plan audit required? Source: https://whipplewoodcpas.com/services/benefit-plan-audits/ Once a plan crosses the threshold to "large plan" status (over 100 active participants) there is a requirement to undergo an annual ERISA audit. The auditor's report must be attached to your annual Form 5500 filing. ### What is a limited-scope audit? Source: https://whipplewoodcpas.com/services/benefit-plan-audits/ An ERISA Section 103(a)(3)(c) audit allows the auditor to rely on a certification from a qualified institution for investment information. This is the most common audit type for 401(k) plans and reduces scope, time, and cost while still testing contributions, distributions, and plan operations. ### What documents do we need to provide? Source: https://whipplewoodcpas.com/services/benefit-plan-audits/ We will need your plan document and amendments, summary plan description, custodian and recordkeeper reports, payroll records for contribution testing, and documentation for distributions and loans. We provide a detailed request list at the start of each engagement and coordinate directly with your service providers. ### This is our first audit — what should we expect? Source: https://whipplewoodcpas.com/services/benefit-plan-audits/ First-year audits require more upfront planning and documentation gathering than recurring engagements. We guide you through the process, explain each requirement, and work with your recordkeeper and custodian to obtain necessary information. Our experience with first-year audits means we know how to keep it smooth. ### What if you find compliance issues? Source: https://whipplewoodcpas.com/services/benefit-plan-audits/ We discuss any findings with management right away. Many issues can be corrected, and we provide recommendations and can assist with the correction process. ### What is the difference between a review and an audit? Source: https://whipplewoodcpas.com/services/financial-compilation-review/ A review provides limited assurance through analytical procedures and inquiries. An audit provides a higher level of assurance through extensive testing, internal control evaluation, and third-party confirmations. Reviews are less costly and faster because they do not require that additional testing. ### When is a review sufficient instead of an audit? Source: https://whipplewoodcpas.com/services/financial-compilation-review/ Reviews work well when stakeholders need assurance that financial statements are materially correct but do not require the highest level of verification. Many bank loan covenants, investor due diligence processes, and bonding requirements accept reviewed statements. ### What reporting frameworks can you review against? Source: https://whipplewoodcpas.com/services/financial-compilation-review/ We perform reviews under GAAP, Tax, and IFRS frameworks. The appropriate framework depends on your stakeholder requirements and business needs. ### What do you need from us? Source: https://whipplewoodcpas.com/services/financial-compilation-review/ We will need access to your complete financial statements, general ledger, bank statements, and supporting schedules. We will also need time with your accounting staff or management for inquiries. ### What if you find something wrong during the review? Source: https://whipplewoodcpas.com/services/financial-compilation-review/ If we identify material misstatements or departures from the applicable framework, we discuss them with management right away. Most issues can be corrected through adjusting entries before the final report is issued. ### Who needs peer review? Source: https://whipplewoodcpas.com/services/peer-review/ CPA firms enrolled in the AICPA Peer Review Program or required by state boards to maintain licensure for audits, reviews, compilations, and other attest services must undergo peer review every three years. If your firm performs attest services, peer review is likely required to maintain your professional standing and state licensure. ### What is the difference between system and engagement review? Source: https://whipplewoodcpas.com/services/peer-review/ System reviews are for firms performing audits, reviews, examinations, or agreed-upon procedures. They evaluate your entire quality control system. Engagement reviews are for firms doing only compilations or preparations. ### How often is peer review required? Source: https://whipplewoodcpas.com/services/peer-review/ Peer review is required every three years. Your due date is established when you enroll in the AICPA Peer Review Program and remains consistent. Plan ahead to ensure adequate time for any needed improvements before your review date. ### How long does a peer review take? Source: https://whipplewoodcpas.com/services/peer-review/ The duration depends on your firm's size and engagement volume. Small firms may complete in one to two days of fieldwork, while larger firms with more engagements may need a week or more. We coordinate timing to minimize disruption to your practice. ### What if we receive findings? Source: https://whipplewoodcpas.com/services/peer-review/ We help you understand findings and develop appropriate corrective actions. Most issues are addressable with policy updates or additional training. We can assist with implementation and prepare you for any follow-up review if needed. ### What is the PCAOB? Source: https://whipplewoodcpas.com/services/pcaob-registered/ The Public Company Accounting Oversight Board (PCAOB) is an entity formed to oversee and maintain the highest audit standards for U.S. publicly owned companies. Only PCAOB-registered firms can audit public companies. ### Why would a private company need PCAOB services? Source: https://whipplewoodcpas.com/services/pcaob-registered/ Entrepreneurs and private companies can benefit from PCAOB experience to prepare for an IPO or M&A transaction. If you are planning an IPO, selling to a public company, or pursuing growth or exit planning, PCAOB-compliant financial statements streamline the process. Such growth or exit planning is more seamless with at least three years of PCAOB-compliant financial statements already in place. ### How is WhippleWood different from larger firms for PCAOB work? Source: https://whipplewoodcpas.com/services/pcaob-registered/ As a midsized CPA and advisory firm, WhippleWood is a knowledgeable and cost-effective alternative to larger and costlier firms that mainly serve entities already publicly traded. Your audit through WhippleWood will meet PCAOB quality standards while reducing the cost and longer timelines of the larger firms. Our team has more than a decade of experience auditing public companies, and team members have been through scheduled PCAOB reviews with "no comments" received—the best possible result. ### What if we need another firm to perform our PCAOB audit? Source: https://whipplewoodcpas.com/services/pcaob-registered/ We can prepare or assist in preparing the documentation that will be required for your audit by another registered firm. Larger audit firms that regularly audit publicly traded companies will expect certain documentation and information in place before they begin their audit. Preparing this information can disrupt your operations with hours of staff time required. ### How far in advance should we start? Source: https://whipplewoodcpas.com/services/pcaob-registered/ IPOs ideally prefer at least three years of audited financial statements in accordance with PCAOB standards. Start early to ensure a seamless public offering preparation. For M&A transactions, begin as early as possible once you are considering a sale to a public company. ### What types of nonprofits do you serve? Source: https://whipplewoodcpas.com/industries/nonprofit-accounting/ We serve a diverse range of 501(c)(3) organizations throughout Colorado, from small community nonprofits to large charitable foundations. Our clients include religious organizations, educational institutions, healthcare nonprofits, arts and cultural organizations, environmental groups, social service agencies, and professional associations. Whether you're a startup nonprofit in your first year or an established organization with multi-million-dollar budgets, we understand the unique compliance requirements for each sector. ### Can you help prepare for our audit? Source: https://whipplewoodcpas.com/industries/nonprofit-accounting/ Absolutely. Our nonprofit audit preparation services are designed to make your annual audit seamless and stress-free. We begin audit prep work months in advance, ensuring your books are audit-ready with properly documented transactions, complete reconciliations, and organized supporting documentation. ### Do you work with our existing software? Source: https://whipplewoodcpas.com/industries/nonprofit-accounting/ Yes, we work with virtually all nonprofit accounting software platforms and can optimize your existing systems or recommend better solutions. Our team includes QuickBooks ProAdvisors and specialists in nonprofit-specific platforms like Blackbaud Financial Edge, MIP Fund Accounting, Sage Intacct, and NetSuite for Nonprofits. We also work with cloud-based solutions including Aplos, QuickBooks Nonprofit, Xero, and various donor management systems like DonorPerfect, Raiser's Edge, and Salesforce Nonprofit Cloud. ### How do you ensure grant compliance? Source: https://whipplewoodcpas.com/industries/nonprofit-accounting/ Grant compliance is critical for nonprofit sustainability, and we implement comprehensive systems to ensure you meet every requirement. We establish detailed tracking for each grant including budget-to-actual monitoring, expenditure classification, and restriction compliance. Our team creates customized chart of accounts with grant-specific coding to separate federal, state, foundation, and corporate funding sources. ### What if we need help beyond basic accounting? Source: https://whipplewoodcpas.com/industries/nonprofit-accounting/ Our nonprofit services scale seamlessly from basic bookkeeping to comprehensive assurance and consulting support, adapting to your organization's growth and changing needs. Beyond core accounting, we provide strategic financial planning including multi-year budget development, cash flow forecasting, and scenario planning for program expansion or contraction. Our consulting services include strategic advisory for major initiatives like capital campaigns, mergers, restructuring, and forensic accounting when fraud prevention or investigation is needed. ### How do you handle staff transitions? Source: https://whipplewoodcpas.com/industries/nonprofit-accounting/ Staff turnover is a reality for most nonprofits, but it doesn't have to disrupt your financial operations. We create comprehensive documentation for all accounting processes, including step-by-step procedures manuals, chart of accounts guides, and monthly close checklists that ensure continuity when staff members leave. Our team maintains detailed records of all transactions, vendor relationships, and financial systems so institutional knowledge isn't lost during transitions. ## Recent Insights ### Benefit Plan Audit Readiness: What Plan Sponsors Must Prepare URL: https://whipplewoodcpas.com/insights/benefit-plan-audit-readiness/ Date: 2026-02-25 Retirement plan audit required for 100+ participants? Learn Form 5500 deadlines, the 80–120 rule, common audit issues, and how to prepare faster. ### Financial Statement Services: Preparation, Compilation, Review and Audit Explained URL: https://whipplewoodcpas.com/insights/preparation-compilation-review-audit-comparison/ Date: 2026-02-20 Understand the key differences between preparation, audit, review, and compilation services. Learn which CPA financial statement service fits your business needs and budget. ### Nonprofit Audit Requirements: A Complete Guide URL: https://whipplewoodcpas.com/insights/nonprofit-audit-requirements/ Date: 2025-12-07 Learn nonprofit audit requirements with our comprehensive guide covering audit types, legal triggers, and step-by-step tips to boost accountability and transparency. ### DOL Opens Door to Alternative Assets in Retirement Plans URL: https://whipplewoodcpas.com/insights/dol-opens-door-to-alternative-assets-in-retirement-plans/ Date: 2025-08-31 Find out more about the Trump Administration's efforts to allow alternative asset investments in 401k and other plans - 401k Plan audits. ### Roth Catch-Up Contributions: 2026 Rule Guide for CPAs URL: https://whipplewoodcpas.com/insights/essentials-of-the-new-roth-catch-up-contribution-rule/ Date: 2025-07-01 Prepare for the 2026 Roth catch-up rule: See who it affects, plan sponsor action steps, and Secure 2.0 law updates. WhippleWood CPAs can help. ### SECURE Act 2.0 Provisions Effective in 2025 URL: https://whipplewoodcpas.com/insights/secure-act-2-0-in-2025/ Date: 2024-11-15 Learn about the various provisions of the SECURE Act 2.0 which become effective in 2025 including higher catch up limits - Denver CPA. ### IRS and DOL Employee Benefit Plan Correction Programs Guide URL: https://whipplewoodcpas.com/insights/guide-benefit-correction-plans/ Date: 2024-08-26 Correct benefit plan errors with IRS EPCRS and DOL VFCP programs. WhippleWood CPAs guide you through compliance and penalty reduction. ### Understanding Charity Navigator’s Rating System URL: https://whipplewoodcpas.com/insights/charity-navigators-rating-system/ Date: 2024-03-07 Understand Charity Navigator's rating system and improve your nonprofit's financial health. Expert CPA guidance on IRS Form 990 compliance. ### Assessing Benefit Plan Auditor Quality URL: https://whipplewoodcpas.com/insights/assessing-benefit-plan-auditor-quality/ Date: 2023-04-12 Learn about the key considerations to make when assessing plan auditor quality including peer review and references - Denver CPA Firm. ## Contact Phone: 303-989-7600 Email: info@whipplewoodcpas.com Address: 11852 Shaffer Drive, Building B, Littleton, CO 80127 Hours: Monday-Friday 8:00 AM - 5:00 PM Contact page: https://whipplewoodcpas.com/contact/