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About Hebeler Accountancy

Mission Statement

Our mission is to provide reliable, accurate financial reporting that strengthens governance, supports compliance, and empowers informed decision-making.

Audits & Reviews, G.P.

Audits & Reviews, G.P. We are a boutique accounting service firm located in Marina del Rey, California.   Our services center on audits, reviews and advisory services. We provide personal service at an affordable rates providing support to clients for years.

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Whether you are looking for professional and experienced staff to support  your engagement for an independent assurange report. 

Start with an initial consultation where we discuss the scope, periods and pricing which is formalized into an Engagement Letter, There are no long term contracts, however most of our clients rely on our services year after year. 

About the Founder – Carl Hebeler, CPA

Carl Hebeler, MBA, JD, CPA brings experience to your business accounting and clarity on the financial aspect of your business. 

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As a former CFO for start-ups and medium size businesses in Southern California along with Accounting management positions at corporate aviation and software companies,

Carl Hebeler understands the challenges of cash flow, reporting gains (and losses), taxes, and timely accounting reports.   His career includes Controller and CFO roles in an investment firm in Boston, System One / Continental Airlines in Miami, and Manufacturing and Software/ Technology in Los Angeles. 

As the owner of Hebeler Accountancy Corporation since 2003 he brings that experience to assist clients with their companies from start up level to long term companies requiring an Audit or Review Report.

In addition to for profit businesses, we also work with many Non Profit Organizations (501c3) supporting charitable purposes, education and arts work with Hebeler Accounting for monthly and annual accounting and audits.   

Homeowners Associations (HOAs)  work with Hebeler Accountancy for their annual tax returns and Review and Audit requirements.

Education

  • Bachelor of Science Degree:  Michigan State University
    • East Lansing, Michigan
  • Master in Business Administration: Suffolk University
    • Boston, Massachusetts
  • Master of Accounting: Florida International University
    • Miami, Florida
  • Juris Doctor, Law Degree: Abraham Lincoln University
    • Los Angeles, California

Professional Associations and Memberships

  • AICPA
  • CPA Connect

Licenses :   

active: State of Florida, since 1989 

active: State of California, since 1992

Other:

Carl Hebeler teaches at colleges and universities in classroom and online in business and accounting subjects and provides small seminars on accounting for clients.  He volunteers accounting services to a limited number of 501c3 Organizations.

Our Approach

Direct CPA involvement with Carl Hebeler, CPA in all engagements.

Timely communication

Streamlined audit processes

Fixed-fee pricing whenever possible

Schedule a Free Consultation

Audit: Highest Level of Assurance

An audit is the highest level of assurance that a certified public accounting firm can provide. In an audit, the CPA will provide reasonable assurance on whether the client’s financial statements are free of material misstatement. During this engagement, they will need to obtain an understanding of the client’s business, its internal controls, and test transactions. The certified public accounting firm will also issue a report with findings and recommendations.

Independent Certified Public Accounting Firm Required

This high level of assurance requires the audit to be performed by an independent certified public accountant. This means that the accountant performing the audit has no financial or other interest in the client whose financial statements are being examined.

Due to the level of work involved, an audit is typically the most expensive type of financial statement engagement.

Review: Limited Assurance

A financial statement review is intended to provide lenders and outside parties with a basic level of assurance on a company or organization’s financial statements. The objective of a review is to offer limited assurance that there are no material modifications that need to be made to the financial statements.

Like an audit, the certified public accounting firm doing a review must be independent. However, the CPA will not issue an in-depth report on findings and recommendations because a review is narrower in scope than an audit and does not require the same level of testing. A review’s procedures are comprised only of analytics and inquiries.

Compilation: A Financial Information Summary

In a compilation, the CPA auditors will compile the financial statements based on information provided by management. The CPA will not express an opinion on the financial statements and will not perform any procedures to test transactions or verify the information. 

While a compilation does not offer assurance, it can be a valuable service for small businesses that need financial statements but do not require the assurance of an audit or review. A compilation can help spot irregularities or other financial issues that a company may need to address. 

 Assurance Report Types

Audit: Highest Level of Assurance

An audit is the highest level of assurance that a certified public accounting firm can provide. In an audit, the CPA will provide reasonable assurance on whether the client’s financial statements are free of material misstatement. During this engagement, they will need to obtain an understanding of the client’s business, its internal controls, and test transactions. The certified public accounting firm will also issue a report with findings and recommendations.

Independent Certified Public Accounting Firm Required

This high level of assurance requires the audit to be performed by an independent certified public accountant. This means that the accountant performing the audit has no financial or other interest in the client whose financial statements are being examined.

Due to the level of work involved, an audit requires more testing, inquiries and risk analysis making this engagement more time consuming and auditor hours.

Review: Limited Assurance

A financial statement review is intended to provide lenders and outside parties with a basic level of assurance on a company or organization’s financial statements. The objective of a review is to offer limited assurance that there are no material modifications that need to be made to the financial statements.

Like an audit, the certified public accounting firm doing a review must be independent. However, the CPA will not issue an in-depth report on findings and recommendations because a review is narrower in scope than an audit and does not require the same level of testing. A review’s procedures are comprised only of analytics and inquiries.

Compilation: A Financial Information Summary

In a compilation, the CPA auditors will compile the financial statements based on information provided by management. The CPA will not express an opinion on the financial statements and will not perform any procedures to test transactions or verify the information. 

While a compilation does not offer assurance, it can be a valuable service for small businesses that need financial statements but do not require the assurance of an audit or review. A compilation can help spot irregularities or other financial issues that a company may need to address. 

AUDITS & REVIEWS

HomeOwners Association Reports

Homeowners Assocations are non proft organzations. An HOA must keep an accounting of records and comply wth State rules for theirr financial Statements.  There are three levels of examination for financial statements that may apply to Homeowners Associations:

1. Audit. If an association’s governing documents require an audit, a licensee of the California State Board of Accountancy (a Certified Public Accountant) performs an extensive examination of the association’s financial records and issues a statement as to their compliance with generally accepted accounting principles (GAAP). An audit is performed in accordance with GAAS (generally accepted auditing standards) established by the American Institute of CPAs (AICPA). The auditing standards are described in Statements on Auditing Standards (SAS). An audit provides a “reasonable level of assurance” that the financial statements are materially correct. As a result, an audit requires more testing, inquiries and risk analysis making this engagement more time consuming and auditor hours.

2. Review. If an association’s governing documents are silent regarding an audit, the Davis-Stirling Act requires, at a minimum, a “review” of the finances for any fiscal year in which the association’s gross income exceeds $75,000. (Civ. Code §5305.) In a review, a CPA performs limited inquiries in accordance with GAAS (generally accepted auditing standards) established by the AICPA and gives “limited assurance” that the financial statement is materially correct. Reviewing standards are described in Statements on Standards for Accounting and Review Services (SSARS).

3. Compilation. A compilation is the lowest level of review in which a CPA assembles information provided by an association. The CPA need not be independent and is required to perform very few procedures. Further, the CPA takes little responsibility for the financial statement and gives no assurance as to compliance with GAAP

We can provide all 3 types of reports for your HOA as we are Peer Review qualified. We can also prepare the Tax Returns FORM 1120-H and State Form 199 as required as part of our engagement. Call us to discuss 310.312.8700