CW Associates, CPAs
CW Associates CPA's Hawaii, Services in Tokyo, Hong Kong and USA: Industries
CW Associates, CPAs, provides accounting, auditing, tax, and general business consulting services to businesses and their owners and nonprofit entities in a variety of industries as well as to employee benefit plans. Our largest clientele are significant players in Hawaii in the wholesale, retail, manufacturing, and real estate industries. We also provide services to automobile dealerships, associations, franchisees, restaurants, hospitality, private and charter schools and other commercial ventures. In addition, our firm has substantial experience and provides services to businesses in the following specialized industries:
Accounting, auditing, tax, and general business consulting services to the construction industry are a significant part of our professional practice. The partners of our firm are actively involved in the General Contractors Association of Hawaii, the Hawaii Chapter of the Construction Financial Management Association (CFMA), and the Associated Builders and Contractors – Honolulu Chapter (ABC). They have presented CFMA’s Basics of Construction Accounting class to a variety of groups over the past ten years and have participated in a number of other construction presentations. In addition, each of our professional staff are trained annually in the unique accounting, reporting, and tax consequences of construction contracts. We pride ourselves on our relationships with local sureties and their expectations of your accountants.
Nonprofit Organizations and Governmental Entities
Accounting, auditing, tax, and general business consulting services to nonprofit organizations and governmental entities also is a substantial part of our professional practice. The professional staff of CW Associates, CPAs, are in compliance with the continuing professional education requirements required by Government Auditing Standards. Carleton L. Williams, our managing partner, has been performing compliance audits since 1979, when they were known as Attachment P audits (prior to the Single Audit Act of 1984). Each of our professional staff are trained annually on the Yellow Book and OMB A-133 accounting, auditing, reporting, and compliance requirements. Services to our nonprofit clients have included: applications for exempt status, preparation of indirect cost allocation plans, clarification of allowable and unallowable costs for federally funded programs, addressing pension plan termination, post-retirement benefits and other accounting issues, analysis of split-interest agreements and joint activity (fundraising) costs, and timely updates for new IRS reporting requirements.
Accounting, auditing, tax, and consulting services to healthcare organizations is a growing part of our professional practice with the addition of Terri Fujii as an audit partner. We provide services to community health clinics, medical and dental groups, and providers of long term care services. Services to our healthcare clients include preparing the Form 990, preparing cost reports, financial analysis, and assistance with regulatory compliance and operational improvements.
Employee Benefit Plans
CW Associates, CPAs, was Hawaii’s first member of the Employee Benefit Plan Audit Quality Center of the AICPA, which requires that all ERISA employee benefit plan audit engagement personnel possess current knowledge of applicable professional standards and the rules and regulations for ERISA (accomplished through employee benefit plan-specific continuing professional education). It also requires member firms to establish policies and procedures specific to the firm’s ERISA employee benefit plan audit practice to comply with the applicable professional standards and the Center’s other membership requirements, and to make publicly available information about its most recently accepted peer review. (Our firm and its predecessor received unqualified opinions without letters of comment in each of its peer reviews since inception in 1989.) Employee benefit plan audits also comprise a substantial part of our professional practice. Our firm provides limited and full-scope audit services of defined benefit pension plans, Employee Stock Ownership Plans (ESOPs), Internal Revenue Code Section 401(k) plans, Internal Revenue Code Section 403(b) plans, single-employer pension plans, and multi-employer pension plans.