The Brown Smith Wallace Advisory Services practice was established in 2002 and has quickly grown to be one of the largest Business and Risk Advisory services practices in the region. The Advisory Services practice has the technical competencies, experience and services mindset necessary to be successful in today’s professional services market.
In addition to serving as an outsourced internal audit provider, we also provide the following services to support a company’s business performance improvement and risk management initiatives and capabilities:
Internal and IT audit and business process risk and controls are the focus and foundation of the Advisory Services practice. Since our inception, we have focused on bringing deep expertise, sophisticated solutions, and a commitment to providing exceptional client service in order to support the growth of the Region’s evolving middle market base. As a result, the Advisory Services Team provides services to over 50 percent of the publicly traded companies and dozens of the largest privately owned businesses, governmental institutions, and not-for profit organizations in the St. Louis area.
Below is a summary depicting the depth and breadth of our client base of our St. Louis-based internal and IT audit Team (FY 2016 Clients).
Our practice has 50+ professionals that focus on the operational, financial and technology business processes, risks, and controls of our clients. We are proud of the team we have built and are certain that our team cannot be matched by other service providers when measuring fees against value provided. The table below provides a summary of our St. Louis based Advisory Services Team, by level. Our staffing model is based upon the assumption that these advisory services require professionals with deep and relevant experience and expertise – which is why 60% of our team is comprised of seniors, supervisors, and managers.
Further, and equally impressive, our Staff/Seniors/Supervisors average 8 years of relevant work experience. Our clients benefit from this experience as this group represent the individuals working in the field on a daily basis with our clients.
Many of our team members are not only CPAs but have other relevant certifications such as Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), Certified Information Systems Auditor (CISA), Lean Six Sigma Black Belt (LSSBB), Certified Information Systems Security Professional (CISS-P), Certified Ethical Hacker (CEH), and Payment Card Industry Data Security Standards Qualified Security Assessor (QSA).
Our internal audits are performed in accordance with professional standards set forth by the Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing and Consulting Standards promulgated by the American Institute of Certified Public Accountants (AICPA).
Brown Smith Wallace has been instrumental in helping Belden build its internal audit, enterprise risk management, and Sarbanes-Oxley programs. I really appreciate the level of partner involvement and thought leadership and the impact they have had on our company.
Jessica Herr, Director, Financial Planning – former
I worked with Brown Smith Wallace on several internal audit projects. I found them to be very knowledgeable of health care operations and understood how the work they completed was integrated into and enhanced our internal controls. One internal audit area of great help was the analysis and development of controls related to data access and its meaningful use implications.
BJC Health Care
Mary Riggs, Manager
A few years ago, we made the decision to move our audit and tax work to a larger firm. We had grown considerably, and were looking for a firm that could provide value beyond just the traditional audit and tax work that we had needed in the past. Our requirements did not preclude a firm that was unfamiliar with our industry from being chosen, but certainly the size of the firm and their commitment to quality were important factors to us. We were looking for a good fit and a good partner. After an extensive review, we chose Brown Smith Wallace to be our partner.
From the start of our engagement, Brown Smith Wallace did not disappoint, as they initially impressed us with their audit and tax knowledge and capabilities. Early on, they recommended a change in a tax filing that saved us a considerable sum of money….and we realized they had a whole lot more to offer. We have used them to assist us with acquisitions, conduct penetration tests of our IT security, and perform a variety of operational and financial special projects.
If you are looking for an accounting firm that adds real value, strives to understand your business, and is committed to being a long-term partner, you should talk to Brown Smith Wallace.
CCA Global Partners
Jim Acker, CFO
The team of professionals at Brown Smith Wallace have exceeded my expectations from a service and delivery perspective. Through their work, they have been able to craft a meaningful short-term and long-term strategy for all aspects of our services including independent living, assisted living and skilled nursing services. Working in concert with our Board and Management, several key governance and operational redesign improvements have been identified and implemented which will have a positive impact both financially and strategically. Their knowledge of the industry and ability to help guide our team through the ever changing health care environment has been critical to our long-term success.
Lynne Spriggs, Former Administrator and CEO
During the year we have been worked with Brown Smith Wallace, I have found that their team has tremendous expertise in local government financial operations. They have demonstrated a keen understanding of our risks and worked with our city officials to develop sensible solutions to mitigate those risks. Moreover, they have provided us with a number of suggested “best practices” in day-to-day operations and have helped document the way we do things. I can say without question that Brown Smith Wallace has truly made a measurable difference for the City of St. Charles and its finance department. I would recommend their organization for any work for which they are under consideration.
City of St. Charles
Michael L. Spurgeon, Director of Administration
Brown Smith Wallace has assisted the City of St. Louis in a review of its Internal Audit function in accordance with professional standards outlined by the Institute of Internal Auditors. The team from Brown Smith Wallace, led by Ron Steinkamp, provided the City with recommendations related to Internal Audit that should improve Internal Audit’s conformance to the professional standards as well as the efficiency and effectiveness in which they operate. I highly recommend Brown Smith Wallace.
City of St. Louis/Comptroller’s Office
Elaine Harris Spearman, Esq., Legal Advisor & Chief of Staff
Ron Present has been a valued Board Member and business advisor for several years. He has helped provide strategic direction for our campus in preparing for health care and senior housing services industry changes. I have worked with Ron and Brown Smith Wallace to help evaluate our competition, analyze our market area, provide strategic planning training and information to the Board and staff, and provide financial modeling for the development of complementary options to our skilled and assisted living services. I found Ron and his team to be timely, strategic in nature and a true partner in our relationship. I highly recommend Ron and Brown Smith Wallace for strategic planning, operational process improvements, and financial modeling services as a great resource in the health care industry.
Jim Arnold, Administrator
Excellent service, great audit firm.
Custom Disability Solutions
A division of Reliance Standard Life Ins. Co.
Paul K. Fields, Chief Financial Officer
Brown Smith Wallace performed a rigorous audit of not only our financial statements but our business. They helped us find cost savings in our healthcare spend and provided insights into key metrics in our business lending department.
First Community Credit Union
Glenn Barks, Chief Executive Officer
J. F. Electric has been a client of Brown Smith Wallace for over 30 years and I can attest to the fact that they provide a measurable difference and have assisted our firm in many aspects of our business. Brown Smith Wallace provides our annual certified financial audits, monthly financial reviews with management, tax strategies and benefits analysis, business risk services, insurance and employee benefits analysis and recommendations, management consulting services as well as other valuable services. The management and support staff of Brown Smith Wallace that we have had the pleasure to have worked with over the past many years, have all been very knowledgeable and experienced in their field of expertise. They consistently exceed our expectations in every way.
J.F. Electric, Incorporated
Greg Fowler, P.E., President and CEO
In the past 10 years, Synod has gone through significant change, and the Brown Smith Wallace team has been right there with us. The complexity of our organizational structure is anything straightforward, and this team learns by asking the right questions, which results in generating solid solutions to our evolving issues. Our year-round relationship and the dialogue that is shared shows they are part of a team working for us, not against us. Their partnership is a valuable resource for The Lutheran Church Missouri Synod.
Lutheran Church Missouri Synod
Jerald C. Wulf, Chief Financial Officer
Continuity of key members of the Brown Smith Wallace NPO audit team helped with my first year transition into an executive role in the Synod’s accounting department. The team walked me through how everything worked so I didn’t feel undue stress during the audit. Knowing an experienced team was always available when I reached out during the year, and was there to support me through transition and audit committee meetings, contributed to my confidence through the entire audit process.
Lutheran Church Missouri Synod
Ross Stroh, Executive Director of Accounting
In addition to finding significant savings on Mercy construction projects, the Brown Smith Wallace Construction Audit team understands our values and culture – treating vendors as Mercy would. The team members have broad skillsets and deep industry experience, bringing us a concentration of industry best practices.
Geralyn Lynch, Construction Business Manager – Finance
For the past few years, Brown Smith Wallace has been instrumental in the effort to establish and maintain a strong internal audit function at the District. With the assistance from Brown Smith Wallace, the District’s internal audit function has been very effective in assisting Management with achieving proper governance while providing value-added input that benefits the operations of the District.
Metropolitan St. Louis Sewer District
Todd Loretta, Internal Audit Administrator
The team of professionals from Brown Smith Wallace has exceeded our expectations in every facet of our partnership with them. The team is not only exceptional to work with, but they are responsive and focused on our needs while providing a strong understanding of the health care industry and related issues. Additionally, we were impressed with the unique client approach the Brown Smith Wallace team has by assigning us a Client Advocate to ensure strong communication as well as making sure their support services helped strategically position us in the marketplace. The relationship spans audit, tax and advisory assistance all coordinated through a consistent and strong leadership team. I strongly recommend Brown Smith Wallace as health care client service partners.
Ranken Jordan Pediatric Bridge Hospital
Jean Bardwell, Chief Financial Officer
Brown Smith Wallace provides accurate, easy to understand reports to our board of directors and management team. We welcome their independent ideas about operational issues we are having and their thoughts always seem to shine light on areas to focus on in the upcoming fiscal year.
Robert Family Holdings, Inc.
CJ Hagemann, Chief Financial Officer
Brown Smith Wallace has been able to deliver exceptional value at an excellent price point. They delivered exactly what they promised: they met fieldwork and delivery deadlines; they assigned experienced benefit plan auditors,and they knew the information they needed and only asked once. I would highly recommend them.
Drew Dennison, Managing Director of Accounting and Finance
Brown Smith Wallace provided us with an excellent blueprint for best practices in financial management. In addition to tightening controls to protect taxpayer dollars, the audit directed us to look at ways County government could improve service and run more efficiently. Aside from the millions of dollars saved, we have a comprehensive guide to best practices in fiscal management and a strong framework to focus on efficiency and stewardship. This forensic audit will ensure that our government is responsive and responsible for years to come.
St. Louis County
Steve Stenger, County Executive
Brown Smith Wallace has been providing financial audits and tax consulting services for The Bar Plan for over ten years. Over that time, Brown Smith Wallace has been a very valuable resource for questions that arise from a financial, regulatory or business perspective. We look forward to working with the insurance practice team of Brown Smith Wallace.
The Bar Plan Mutual Insurance Company
Gregory H. Klaus, Chief Financial Officer
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