Firm News | Schulte CPA

For the twelve months ended October 25, 2024, Schulte & Company CPAs Inc. has received the best peer review rating, a rating of pass. Congrats Team Schulte!

Every three years accounting firms undergo the peer review process administered by the American Institute of Certified Public Accountants. A passing grade is needed to renew a firm’s license to practice in the attest accounting field, including the ability to provide services for preparation, compiled, reviewed and audited financial statements. Since Schulte & Company provides a full range of financial statement services from preparation to audit, Schulte underwent the most stringent type of peer review, which is the System Review.

A System Review is designed to provide a peer reviewer with a reasonable basis for expressing an opinion on whether, during the year under review:

The reviewed firm’s system of quality control for its accounting and auditing practice has been designed in accordance with quality control standards established by the AICPA and
The reviewed firm’s quality control policies and procedures were being complied with to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects.

In performing a System Review, the peer reviewer might:

Interview firm personnel,
Examine CPE records,
Examine outside consultations regarding A&A matters,
Examine independence representations, and
Test a reasonable cross-section of the firm’s engagements with a focus on high-risk engagements and significant risk areas.

Most of the procedures in a System Review are performed at the reviewed firm’s office. The scope of the peer review does not encompass other segments of a CPA practice, such as tax services or management advisory services, except to the extent they are associated with financial statements, such as reviews of tax provisions and accruals contained in the financial statements. Firms can receive a rating of pass, pass with deficiency(ies) or fail.

Schulte & Company’s next peer review period will be for the twelve months ended October 31, 2027.

Newest Additions and Personal Milestones for Schulte

In late 2023, Schulte and Company expanded through the acquisition of Haramis and Roe, bringing valued new team members Jeff H., Dave, Jeff R., Janet, Linda, and JoEllen on board. Each brings extensive experience, making them a perfect fit within our team, and we’re thrilled to have them join us.

To accommodate our growing team, we’re also expanding our office space. Our building addition, expected to be completed by the end of November, will feature more office space and a new conference room for team meetings.

Diane Crutchman Celebrates 26 Years with Schulte & Company CPAs

On May 1, 1998 Diane Crutchman became the first non-owner employee of Schulte & Company CPAs Inc. Twenty six years later, she is still here.

Worth noting is that Diane has worked with many of Schulte & Company’s clients for much longer than 26 years. Diane’s career started with Dorsey Arnold CPA in 1978. When Mr. Arnold retired, his firm was acquired by Robert Lusk CPA and Diane went along for the ride. When Mr. Lusk passed away, Schulte & Company purchased the practice – and Diane came along.

So while she is celebrating her anniversary with Schulte & Company, she is actually celebrating her 46th anniversary serving our clients.

Congratulations Diane!

Jackie Ferguson earned her CPA

Jackie Ferguson recently earned her CPA license. Jackie joined Schulte in January of 2023. Jackie has vast bookkeeping and QuickBooks knowledge and experience. She has worked in several different industries which give her insider knowledge of how things are done. In addition to her tax work, Jackie is also a member of our Audit team.

Congratulations Jackie!