North Huntingdon, PA (PressExposure) February 10, 2011 -- The head of Century Negotiations, Inc, a Pennsylvania-based debt resolution company, recently told the Wall Street Journal that voluntary financial auditing has greatly helped his company.
CEO and Founder Dave Leuthold explained that banks and regulators look favorably on companies that hire third-party certified public accountants to audit their finances, despite the upfront costs. A voluntary audit can be pricey - many thousands of dollar each time - but Leuthold said the benefits outweigh the costs.
"As a consumer debt resolution company, it is imperative that our own finances are in perfect order," said Leuthold. "And no one has to take our word for it-we have a professional third-party that has double-checked our bookkeeping every year since 2005."
The audits not only earn the company the trust of its clients and bankers, but audits are required for licensure in some states. Leuthold said that staying on top of voluntary audits has helped Century Negotiations reach clients throughout the country.
"It is our goal to help every qualified consumer who requests our services, and we're thrilled to be able to serve clients in many states," he said.
As a result of the upfront costs to companies, very few choose to hire third-party accountants. Moreover, only about 25 percent of small businesses (with less than 500 employees) keep financial statements at all, according to the Federal Reserve Board's National Survey of Small Business Finances. Leuthold said this is just one more example of how Century Negotiations goes above and beyond for their clients.
"I've always said it's our mission to treat our clients with respect, and I have long felt that responsibility and transparency on our end is the best way to achieve that mission," he said.
To read the Wall Street Journal article on voluntary auditing, visit [http://online.wsj.com/article/SB10001424052748703791904576076474014311438.html?mod=googlenews_wsj#printMode]