Payne & Smith

 

5952 Royal Lane, Ste. 158
Dallas, Texas 75230
Telephone: 214-363-9927
Fax: 214-363-9980

Team Approach
STRUCTURE AND PHILOSOPHY

We believe our structure and philosophy provides our clients with the service they require through a higher level of involvement by our senior management team.  This higher level of involvement minimizes inefficiencies normally encountered during an audit or tax engagement. It is our belief this efficiency more than offsets the higher individual hourly rates necessary and those cost savings are passed on to you. Further, due to this high level involvement by our senior management team, we can respond more accurately and more promptly than many other firms on issues that arise during the engagement.

TEAM CONCEPT - EXPERIENCED PERSONNEL

Our senior management team has significant experience in a broad range of industries with a concentration in the financial institution industry.  We are committed to having a team approach with senior management having direct participation in the execution of objectives.  We believe each member of our senior management brings a unique strength to each individual engagement.  Our management team will be directly involved in the engagement, and will be available to consult with you throughout the year.  Our approach is to staff engagements with a higher level of expertise than that usually encountered in a typical audit environment.  We believe efficiency can be reached within this framework which can offset the higher cost of more experienced personnel.  We also believe that in today’s more sophisticated environment, a higher degree of expertise is required to better service a client's needs.

SCHEDULE WORK EFFICIENTLY

We plan to perform our procedures throughout the year and to schedule as many of the procedures as possible prior to year-end.  We also would work closely with management in identifying potential problem areas that may require additional procedures.  We believe this practice, as well as the use of more experienced personnel, will minimize disruption of your staff, and will allow quicker problem identification and resolution.

TIMELY REPORTING AND COMMUNICATION

We intend to work closely with you throughout the year, not just during our fieldwork.  Each of our management team will be involved with your engagement and will be accessible to you on a day to day basis.  Upon completing our engagement, we will issue our reports.  Before issuing any reports, we will have discussed the findings with management and resolved any factual discrepancies prior to issuance.

We have found that frequent, open communication results in a better understanding of a client’s operations.  This is both a benefit to you and to us.  We would be available throughout the year to be involved with you in any way that appears beneficial.  We want our team to be a member of your team and to provide you with the best service available.

COST EFFECTIVENESS

We strive to achieve the lowest possible professional fees consistent with quality work.  Our fees for professional services are based on time spent on engagements at hourly rates related to levels of experience, training, and responsibilities of the staff assigned.  Although we have a higher level of involvement of partners and senior management personnel, our individual hourly rates and the "average" rates for our engagements are favorable or comparable to other major firms of certified public accountants.  Our policy is to absorb any fees associated with our initial systems documentation and initial planning.