PCAOB Registered
Public Company Accounting Oversight Board
Since 2004
AICPA Member
American Institute of CPAs — Peer Review Passed
22 Years
SOC Examination
SOC 1 · SOC 2 · SOC 3 Provider
Type I & II
SEC Filing Qualified
Registered with SEC Practice Section
487 Filings
Manufacturing Specialist
NAICS 31–33 Industry Expertise
28 Yr Avg Client
Nonprofit Compliance
OMB Uniform Guidance · Yellow Book
A-133 Certified
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LEDGER

487 Clean Opinions
Issued.

Zero Restatements.

Serving mid-market manufacturers, nonprofit organizations, and PE-backed portfolio companies preparing for SEC filings, grant compliance reviews, and due diligence since 1997.

Manufacturing · NAICS 31–33
Nonprofit · OMB Uniform Guidance
Private Equity · Due Diligence
29yr
Average Client Tenure
$2.3B
Assets Under Audit
0
Regulatory Sanctions
2025 Audit Deficiency Index
% of audits with material finding · FY2024–2025
Revenue Recognition
6% YoY34%
Manufacturing
Lease Accounting
22% YoY41%
All Sectors
Inventory Valuation
3% YoY29%
Manufacturing
Grant Compliance
7% YoY38%
Nonprofit
Related-Party Tx
4% YoY22%
PE Portfolio
Debt Covenants
3% YoY17%
PE Portfolio
Moderate
High Risk (>35%)

The most costly findings are the ones your current auditor isn't looking for.

Lease accounting deficiencies have doubled since ASC 842 took effect — yet 41% of mid-market manufacturers still carry operating lease misclassifications into their year-end close. For a company preparing its first SEC filing, that's not a footnote problem. That's a restatement waiting to happen.

Our pre-audit diagnostic runs 23 deficiency checkpoints across your balance sheet before fieldwork begins. We identify the exposure before it becomes the finding. Clients who complete our Audit Readiness Assessment reduce remediation time by an average of 14 weeks.

ASC 842 lease portfolio reconciliation
Revenue recognition disaggregation review
Inventory cost layering and NRV testing
Grant compliance schedule pre-check
Source: Ledger Audit Group Internal Data · 2024–2025 Engagements · n=487

Four regulatory changes your next audit will test. Most firms notice two.

The gap between a clean opinion and a qualified one is rarely a catastrophic failure. It's the lease schedule nobody updated, the income tax footnote drafted before the ASU was effective, the SOC 2 report that expired during due diligence. Our regulatory tracker flags exposure 90 days before it becomes your auditor's finding.

94%
Clients Fully Current
87%
Zero-Finding Rate
Ledger client cohort · FY2024 · n=312 active engagements
Regulatory Change Tracker
Live · Updated Feb 2026
ACTIVEHIGH RISK
ASC 842 — Lease Accounting
FY2024 Close

Operating lease liabilities must appear on balance sheet. Many mid-market companies still carry off-balance-sheet exposure.

$1.4M avg unrecorded liability (our engagements)
EFFECTIVEMEDIUM RISK
ASU 2023-09 — Income Tax Disclosures
FY2025 Annual

Enhanced rate reconciliation and disaggregated income taxes paid disclosures required. Early adoption permitted.

68% of clients need disclosure rewrite
MONITORINGMEDIUM RISK
SOC 2 Trust Services Update
Ongoing

Updated criteria for availability and confidentiality principles affecting SaaS-adjacent portfolio companies.

Due diligence blocker in 3 of 8 PE transactions
EFFECTIVEHIGH RISK
OMB Uniform Guidance 2024 Revision
Oct 2024

Indirect cost rate changes and procurement thresholds revised. Single audit threshold unchanged at $750K.

12 nonprofit clients required schedule revision

What we found before regulators did.

$3.8M+
Total misstatements identified before client's own team · FY2024
SEC FILING QUALIFIED
Tier-2 Auto Parts Manufacturer · $84M Revenue

Material Misstatement — Revenue Recognition

$2.3MMisstatement Caught
11 weeks before SEC filing deadline

The company had been recognizing revenue at point of shipment under legacy policy. Under ASC 606, control transferred at customer acceptance — a 30-day lag. We identified $2.3M in prematurely recognized revenue during pre-audit fieldwork. Their prior auditor had passed the same schedule for three consecutive years.

Clean opinion issued on revised statements. SEC filing accepted without comment.
Prior auditor: Regional firm, 3 consecutive clean opinions on same schedule
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