Financial Services
Audit, tax, and advisory support for lenders, credit unions, investment funds, family offices, and the investors who back them.
Overview
Financial services businesses are judged on the quality of their numbers. Lenders answer to warehouse banks, investors, and regulators. Funds answer to limited partners who expect accurate capital accounts and timely K-1s. Credit unions answer to their members and the NCUA. Pease Bell is a Top 200 U.S. CPA firm headquartered in Cleveland, Ohio, and we bring audit, tax, and advisory under one roof for organizations where reporting accuracy, regulatory expectations, and investor confidence all matter at once.
Our financial services work covers mortgage banking, where we have served mortgage bankers for more than 20 years, along with credit unions, family offices, private investment funds, search funds, and lenders across asset-based, SBA, and private credit. The common thread is a team that understands loan portfolios, fair value measurement, partnership tax, and the reporting your counterparties require. We work with you directly and aim to keep engagements organized and predictable. Full Service. Boutique Touch.
How We Help Financial Services Organizations
Financial Statement Audits
Audits of lenders, credit unions, and investment funds performed under U.S. GAAS, with attention to loan valuation, allowance for credit losses, fair value measurement, and the disclosures investors and regulators read most closely.
Fund and Partnership Tax
Partnership returns, investor K-1s, capital account maintenance, and allocation reviews for private funds, family office entities, and multi-tier structures where timing depends on information flowing up from underlying investments.
Fair Value and Valuation
Support for ASC 820 fair value measurements, including review of valuation policies, Level 3 inputs, and documentation for loans, private company investments, and interests in other funds.
CECL and Credit Loss Reporting
Help adopting and maintaining the current expected credit loss model under ASC 326, from methodology and data inputs to the qualitative adjustments and disclosures auditors and examiners review.
Transaction Diligence
Quality of earnings, field exams, and tax diligence for lenders and sponsors evaluating borrowers, platform acquisitions, add-ons, or search fund targets before capital is committed.
Outsourced Accounting
Bookkeeping, close, bill pay, and consolidated reporting for family offices, emerging managers, and specialty lenders that need controllership support without building a full in-house finance team.
Explore Financial Services
Mortgage Banking
HUD and GSE audits, net worth reporting, and compliance for lenders and servicers.
Learn more →Credit Unions
Financial statement audits, supervisory committee audits, and CECL support for credit unions and the volunteer boards that oversee them.
Learn more →Family Offices
Consolidated reporting, multi-entity tax compliance, and day-to-day accounting for families managing wealth across many entities, trusts, and generations.
Learn more →Fund of Funds
Audit, tax, and reporting support for funds that invest in other funds, where every number depends on information from underlying managers.
Learn more →Search Funds
Diligence, tax structuring, and post-close accounting for search fund entrepreneurs and the investors backing their first acquisition.
Learn more →Private Equity
Fund audits, portfolio company work, and deal diligence for private equity sponsors, from platform acquisitions through add-ons and exit.
Learn more →Real Estate Funds
Fund and property-level audits, partnership tax, and waterfall reporting for sponsors and managers of real estate investment funds.
Learn more →Venture Capital Funds
Fund audits, portfolio valuation, and partnership tax for venture capital managers investing in early and growth-stage companies.
Learn more →Asset-Backed Lenders
Audits of asset-based and specialty finance lenders, plus field exams and covenant testing on the borrowers in their portfolios.
Learn more →SBA Lenders
Quality of earnings, business valuations, and borrower diligence that help SBA lenders evaluate 7(a) loans, especially change-of-ownership deals.
Learn more →Private Credit
Fund audits, loan valuation, borrower diligence, and tax support for direct lending funds and other private credit managers.
Learn more →Challenges We Help You Address
- ✓Meeting audit and reporting requirements from warehouse lenders, investors, and regulators
- ✓Measuring and documenting fair value for illiquid loans and private investments
- ✓Delivering accurate K-1s when underlying fund information arrives late
- ✓Building a defensible allowance for credit losses under CECL
- ✓Evaluating borrowers and acquisition targets with reliable financial diligence
Frequently Asked Questions
What does a CPA firm do for financial services companies?
A CPA firm provides independent audits, tax compliance, and advisory work for lenders, credit unions, funds, and family offices. For financial services clients, that usually means audits that satisfy investors, lenders, or regulators, partnership tax and K-1 preparation, fair value and credit loss support, and diligence on borrowers or acquisition targets. Pease Bell delivers audit, tax, and advisory under one roof so these pieces stay coordinated.
Do investment funds need an annual audit?
Many do, though the requirement usually comes from the fund’s limited partnership agreement, investor expectations, or regulatory rules for registered advisers rather than a single universal rule. Audited financial statements give limited partners independent assurance over capital balances, fair value, and performance. Your offering documents and legal counsel should confirm your fund’s specific obligations, and we can help you plan an audit that meets them.
What is CECL and does it apply to my organization?
CECL is the current expected credit loss model in ASC 326. It requires entities to estimate expected credit losses over the life of financial assets such as loans and certain receivables, rather than waiting until a loss is probable. It applies broadly to entities following U.S. GAAP that hold those assets, including credit unions and lenders. We can help you assess its effect on your methodology, data, and disclosures.
Can one firm handle both the audit and the tax work for a fund?
Yes. Many funds and lenders use one firm for audit, tax, and advisory so that the financial statements, partnership returns, and investor K-1s are prepared from a consistent set of records. Independence rules still apply to how the services are performed, and we plan engagements with those rules in mind. Coordination can reduce duplicate requests and help keep reporting timelines on track.
Related services & industries
Contact Us
Tell us about your organization and a member of our team will be in touch.