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INTRODUCTION

Banking Institutions

Richardson & Company, LLP has served more than 30 banking institutions over the past 20 years ranging in size from de novo banks to those with assets over $1 billion. Most of the banks have been owned by holding companies and our services included the bank, the holding company, and other subsidiaries. Many of the holding companies have been SEC reporting companies. We have assisted banking institutions with branch acquisitions, the formation of holding companies, initial and other public offerings, registration with the SEC, and mergers with other banking institutions. We have provided FAS 109 deferred income tax accounting assistance to several SEC registrant banking institutions whose external auditors were prohibited from assisting them due to SEC independence rules.

State and Local Governments

The governments we have served include most of the cities in the Sacramento region, numerous special districts including those with water, power, air quality and fire protection operations, one of the state’s largest fire districts, the third largest city in the Sacramento region with assets in excess of $1.5 billion and one of the largest transportation planning and funding agencies in the state, serving the six-county Sacramento region. We have served many joint powers authorities including transportation and transit authorities, a fire/EMS communication center that handles all 911 calls in the Sacramento area, a large insurance risk pool for California hospital districts, a public library with the County and City of Sacramento and six other cities as members and a joint venture of two water districts operating four dams and power plants. Among the governments we have served is the largest water district in the world which is a consortium of cities and water districts serving nearly 19 million people in the Los Angeles and San Diego areas.

Our services to special districts have also included assisting several districts with their transition from using the county as their auditors, including conducting many past due prior year audits.  We have performed forensic, investigative audits on behalf of several special districts. Our forensic audit of one of the areas large water districts received extensive statewide news media and legislative attention and changed the way water district audits are conducted throughout the state. We have extensive experience assisting governmental agencies with receiving the Certificate of Excellence in Financial Reporting awarded by the Government Finance Officers Association.

Not-for-Profits, Real Estate and Employee Benefit Plans

Our services to not-for-profit organizations have included many charitable, trade, and professional associations. Our real estate services have included auditing most of the partnerships managed by one of the areas large property management companies. We have conducted pension plan audits for both defined benefit and defined contribution plans.