Best Accounting & Auditing Lawyers in Aurora

1. About Accounting & Auditing Law in Aurora, United States

Aurora residents and businesses operate under a mix of federal, state, and local rules governing accounting practices and auditing. At the state level, CPAs must be licensed by the Colorado Board of Accountancy, which operates under the Colorado Department of Regulatory Agencies (DORA). This licensing framework covers who may prepare and attest to financial statements in Colorado, including around the Denver metro area that includes Aurora.

For entities that issue public securities, federal law and national regulators establish auditing standards and corporate governance requirements. The Public Company Accounting Oversight Board (PCAOB) sets auditing standards and oversees registered public accounting firms. In addition, the Sarbanes-Oxley Act imposes heightened internal controls and audit committee responsibilities for many public companies. Local governments and nonprofits in Colorado have their own reporting and audit expectations shaped by state and federal funding rules.

“The Sarbanes-Oxley Act aims to strengthen corporate governance and financial reporting through stricter internal controls and independent audits.”

In Aurora, the practical impact is that both business owners and nonprofit managers may need legal guidance to coordinate licensing, compliance, audits, and funding requirements across federal, state, and local levels.

2. Why You May Need a Lawyer

Legal counsel can clarify responsibilities and navigate complex reporting requirements in specific, real-world scenarios. Below are examples relevant to Aurora, Colorado, and the surrounding Denver metro area.

• You own a Colorado startup with plans to go public or accept external investment. An attorney can advise on Sarbanes-Oxley compliance for internal controls and on coordinating with a PCAOB-registered auditor.
• Your nonprofit in the Aurora area reports federal grant funding. You need counsel to ensure the audit process meets federal requirements and the organization remains eligible for future awards.
• A Colorado-based company receives a formal audit request from the Colorado Board of Accountancy or faces CPA licensing issues. An attorney can guide the response, licensing obligations, and possible disciplinary processes.
• You face an internal controls deficiency or fraud allegation. A legal professional can help preserve evidence, manage investigations, and coordinate with auditors and regulators.
• Your local government entity or school district in the Denver region requires annual financial reporting and auditing. An attorney can advise on governance, procurement for auditing services, and compliance with applicable statutes.
• You are challenging an audit finding or negotiating a tax or accounting dispute with state agencies. A qualified attorney can negotiate settlements and prepare for hearings.

3. Local Laws Overview

The following laws and regulatory frameworks shape Accounting & Auditing in Aurora. They include federal statutes, national standards, and Colorado-specific licensing and governance rules.

Sarbanes-Oxley Act of 2002 (SOX)

SOX is a federal law enacted to improve corporate governance, financial disclosures, and internal controls for public companies. It requires independent audit committees, enhanced financial reporting, and internal control documentation. The act applies to many companies with securities registered in the United States, including entities with a Denver-Aurora footprint.

Effective date: July 30, 2002. For the full text and official summaries, see the U.S. government source:

sec.gov - Sarbanes-Oxley Act (2002)

Dodd-Frank Wall Street Reform and Consumer Protection Act

Dodd-Frank establishes new regulatory requirements for financial institutions and market participants, with broad implications for reporting, disclosures, and audit oversight. It complements SOX by addressing risk management, executive compensation, and whistleblower protections for financial governance.

Enacted: July 21, 2010. Official text and summaries are available through federal government resources, including GovInfo and Congress.gov references:

govinfo.gov - Dodd-Frank Act (2010)

Colorado Accountancy Act (Colorado Revised Statutes related to Accountancy)

The Colorado Accountancy Act governs licensing, practice, and ethical standards for CPAs and accounting firms within Colorado, including Aurora. Licensing decisions, peer reviews, continuing professional education (CPE), and disciplinary actions fall under this framework and are administered by the Colorado Board of Accountancy via DORA.

For current statutory text and amendments, consult the Colorado General Assembly and the Colorado Board of Accountancy resources:

dora.colorado.gov - Board of Accountancy, leg.colorado.gov - Colorado General Assembly

“Colorado's Accountancy Act provides the framework for CPA licensure, ethics, and ongoing professional education, with updates tracked by the Colorado General Assembly.”

4. Frequently Asked Questions

What is the difference between an attorney and a CPA in auditing matters?

Attorneys provide legal advice, debt and contract issues, and regulatory defense. CPAs perform accounting, auditing, tax, and compliance work. In audits, many matters involve both professions working together.

What is SOX and how does it affect my company in Aurora?

SOX requires stronger internal controls and an independent audit process for many public companies. It affects governance, disclosure, and auditing practices in Colorado-based businesses with public securities.

How do I know if I need an auditor for a nonprofit in Colorado?

Nonprofits with federal funding or specific revenue thresholds often require independent audits. Coordinate with counsel to determine your exact requirements under federal and state rules.

What is the role of the Colorado Board of Accountancy?

The Board licenses CPAs, approves firms, sets ethical requirements, and oversees discipline. It ensures that accounting practices in Colorado meet professional standards.

How long does it take to finish a typical accounting audit in Aurora?

Audit timelines depend on company size and complexity. For small businesses, fieldwork can take 2-6 weeks, while larger organizations may require several months.

Do I need to hire a local attorney who specializes in accounting and auditing?

Yes. A local specialist understands Colorado and Aurora requirements, rules for licensing, and local regulatory expectations and enforcement practices.

Is there a specific timeline for CPA license renewal in Colorado?

Colorado CPAs must comply with annual license renewals and CPE requirements. Check the Board's site for the current renewal deadline and CPE rules.

What is the cost range for a typical accounting compliance consultation in Aurora?

Consultation fees vary by firm and service scope. A mid-size Colorado firm often charges a few hundred dollars for an initial assessment, with deeper engagements priced separately.

Can I switch auditors mid-project in Colorado?

Switching auditors is possible but requires careful coordination and may involve notifying stakeholders and regulators. Seek counsel to manage the transition smoothly.

Should I pursue an internal controls improvement plan for SOX compliance?

Yes, if you are a public company or subject to SOX requirements. An attorney and CPA can help design, document, and implement control improvements.

Do I need to worry about audit committee requirements in Colorado?

Auditors and governance rules may require an independent audit committee for certain entities. A local attorney can clarify committee structure and independence requirements.

What steps should I take if I receive an audit demand in Aurora?

Respond promptly, preserve documents, and consult counsel to coordinate with the auditor and regulators. Do not alter records without legal guidance.

5. Additional Resources

Use these official resources to understand licensing, auditing standards, and regulatory expectations in Aurora and Colorado:

• PCAOB - Public Company Accounting Oversight Board: Sets auditing standards for public companies and oversees registered accounting firms.
• Colorado Board of Accountancy (DORA): Oversees CPA licensure, firm qualifications, and ethical standards in Colorado.
• U.S. Securities and Exchange Commission (SEC): Oversees securities markets and provides guidance on financial disclosures and compliance for issuers.

Direct links to official sources:

pcaob.org - Public Company Accounting Oversight Board

dora.colorado.gov - Colorado Board of Accountancy

sec.gov - U.S. Securities and Exchange Commission

6. Next Steps

1. Define your needs in writing. Note whether you need licensing guidance, an audit plan, regulatory defense, or a combination.
2. Gather relevant documents. Collect financial statements, auditor reports, board minutes, and any regulatory notices. Create a chronology of events.
3. Identify Aurora-area accounting and legal specialists. Look for CPA and attorney firms with Colorado licenses and experience in auditing, governance, and regulatory matters.
4. Check credentials and references. Confirm CPA licensure with the Colorado Board of Accountancy and verify attorney bar status in Colorado. Request case studies or references.
5. Request consultations. Schedule at least 2-3 in-person or virtual meetings to compare approaches, timelines, and fee structures. Ask about prior audit projects in Colorado.
6. Discuss scope, timeline, and costs. Obtain written proposals outlining tasks, deliverables, hourly rates or fixed fees, and estimated total costs.
7. Finalize engagement and timelines. Sign a retainer agreement, set milestones, and agree on communication cadence and reporting formats.