What are healthcare audit and assurance services?

Healthcare audit and assurance services provide independent evaluations of an organization’s financial statements, internal controls, and compliance processes. These services help hospitals, health systems, and physician practices maintain transparency, meet regulatory requirements, and strengthen stakeholder confidence.

Why are financial statement audits important for healthcare organizations?

Financial statement audits verify the accuracy of financial reporting and ensure compliance with industry and governmental standards. For healthcare entities, they are essential for securing financing, maintaining grant eligibility, and ensuring accountability to boards and community stakeholders.

What is a SOC examination in healthcare?

A System and Organization Controls (SOC) examination evaluates the design and effectiveness of internal controls over financial reporting and data security. In healthcare, SOC reports help organizations demonstrate trust, safeguard patient data, and meet vendor assurance requirements.

What is the difference between an audit, a review, and an agreed-upon procedures report?

An audit provides the highest level of assurance through in-depth testing of financial data. A review offers limited assurance based on analytical procedures and inquiries. An agreed-upon procedures report focuses on specific areas defined by management, such as compliance or grant testing.

What advisory services support healthcare audit and assurance work?

Advisory services such as internal control reviews, risk assessments, accounting standard implementation, fraud investigations, and transaction due diligence complement audit and assurance efforts by helping organizations identify risks, prevent fraud, and improve overall financial performance.

Healthcare Audit & Assurance

PYA is differentiated from other public accounting firms by the breadth and depth of our healthcare expertise. Our team consists of professionals who devote nearly all their time to serving healthcare organizations, ranging from small physician practices to community hospitals to large multi-hospital health systems and other not-for-profit, for-profit, and governmental organizations. We have a comprehensive understanding of healthcare’s dynamic operating environment, which is essential to delivering quality financial audit and assurance services.

Our Healthcare Audit and Assurance Services

Audit

Audits of Financial Statements
Audits under Uniform Guidance (Single Audits)
Audits of Employee Benefit Plans
System and Organization Controls (SOC) Examinations

Assurance

Outsourcing or Co-sourcing of Internal Audit Functions
Reviews and Compilations of Financial Statements
Debt Issuance and Compliance Monitoring
Agreed-Upon Procedure Reports and Special Reporting
IT/Cybersecurity

Advisory

Internal Control Reviews and Risk Assessments
New Accounting Standard Implementation
Accounting Policy and Procedure Manual Development
Fraud and Forensic Investigations and Dispute Resolution
Financial Due Diligence and Quality of Earnings (QoE)
Transaction Accounting Assistance
Financial and Statistical Analysis
Fraud Prevention and Detection

Healthcare Audit and Assurance Advisory Services

Financial Reporting and Independent Assurance for Healthcare Organizations

Healthcare organizations rely on accurate financial reporting, strong internal controls, and independent assurance to support boards, lenders, regulators, and other stakeholders. PYA provides audit, attest, and assurance services tailored to hospitals, health systems, physician practices, and other healthcare organizations operating in a complex regulatory and reimbursement environment.

Internal Audit, Compliance, and Risk Assessment Services

Healthcare providers face growing operational, compliance, cybersecurity, and financial risks that require ongoing monitoring and structured oversight. PYA assists organizations with internal audit support, compliance assessments, SOC examinations, enterprise risk assessments, accounting standard implementation, and other advisory services designed to strengthen organizational readiness and financial integrity.

Healthcare Transaction, Due Diligence, and Financial Advisory Services

Healthcare transactions and strategic initiatives often require coordinated financial and operational analysis. PYA provides financial due diligence, Quality of Earnings assistance, forensic accounting, valuation-related support, and financial analysis services to help healthcare organizations evaluate risk, support decision-making, and navigate complex financial and operational challenges.

The PYA Difference

Over our 40-year history, PYA has consistently delivered high-value advisory services to our national client base. Our team is deployed to develop custom plans using proven approaches and work plans.

Independence

Private ownership means we answer only to our clients, not to third-party investors, giving us the freedom to be thorough and thoughtful in our work. We judge our success by our clients’ success.

Relationships

We value long-term relationships and work hard to maintain them. Our commitment to client relationships and the communities we serve remains constant.