Independent financial statement audits, wage-and-benefit testing and Single Audits for home care, home health and personal care agencies paid through Medicaid waiver programs and state aging departments, including Illinois Department on Aging Community Care Program providers filing through the GATA portal.
For-profit and nonprofit agencies of any size. If a state program, a managed care contract, a lender or a buyer has asked for audited statements, we can help.
In-home service agencies contracted with the Illinois Department on Aging that must submit an independent audit to keep their contract in good standing.
Personal care, homemaker and respite providers in home and community-based services (HCBS) waiver programs in any state.
Medicare-certified and state-licensed home health agencies that need audited statements for payers, lenders or ownership changes.
Agencies with grants or federal awards that need a GAAS audit, a Single Audit and a Form 990.
Owners adding locations, refinancing or preparing to sell, where a lender or buyer wants audited numbers.
Agencies that have never been audited and need records cleaned up before fieldwork starts.
Audit requirements come from your contract, your state program and your funding sources. These are the ones we see most.
The Community Care Program is one of Illinois' Medicaid 1915(c) home and community-based waivers, run by the Department on Aging. Contracted providers submit an independent audit to the Department.
When the Illinois Auditor General tested home care aide providers, some had not submitted an audit since 2016, and most audits that were submitted gave no assurance on the Department's required split between administrative costs and employee wages and benefits. We test that split as part of every CCP engagement, so your report answers the question the Department is asking.
Many state waiver programs require provider cost reports supported by audited financial statements, or independent audits on a set schedule. Your provider agreement or state manual sets the level (audit, review or agreed-upon procedures) and the deadline.
State auditors also run their own Medicaid compliance examinations of home health and waiver providers. Clean books and a recent independent audit make those reviews far less painful.
A nonprofit or state-funded agency that spends $1,000,000 or more in federal awards in a fiscal year (for fiscal years beginning on or after October 1, 2024) needs a Single Audit under 2 CFR 200 Subpart F.
Banks, managed care organizations and acquirers often ask for audited or reviewed statements before extending credit, adding you to a network or closing a deal.
Sources: Illinois GATA: Community Care Program (CSFA 402-04-1452) · Illinois Auditor General: Department on Aging compliance examination. Requirements change; we confirm the current rule for your program before quoting.
One firm for the audit and the work that makes the audit go smoothly.
A GAAS audit of your balance sheet, income statement and cash flows, with an opinion your state program, lender or buyer can rely on.
Learn more →Testing of how you allocate wages, payroll taxes and benefits between direct care and administration, as state programs require.
Learn more →Federal compliance testing and reporting for agencies that cross the federal spending threshold.
Learn more →Limited assurance at a lower fee, when your contract or lender accepts a review instead of a full audit.
Learn more →Reconciliations and payroll allocation cleanup before fieldwork, so the audit isn't delayed.
Learn more →Corporate, partnership and Form 990 returns prepared from the same audited numbers.
Learn more →Fixed fee, agreed before work starts. No hourly billing, no surprise invoices.
Share the state letter, contract clause or portal notice and last year's financials.
We confirm the report level, the deadline and a fixed fee in writing.
Secure upload of payroll registers, billing data and bank statements. We test the wage and benefit split along the way.
You get the signed report and financial statements, ready to upload to the state portal.
Medicaid rates, payroll-heavy cost structures and program-specific reporting. We plan the audit around how your agency actually earns and spends.
Contracted CCP providers submit an independent audit to the Department, and the Department's financial reporting guidelines require an administrative versus employee wage and benefit cost split. The exact report type and due date are set in your contract and portal notice. Send us yours and we'll confirm what's required before quoting.
It's a breakdown showing how much of your spending went to caregiver wages and benefits versus administration. Program reviewers use it to check that rate increases meant for direct care actually reached workers. We test your allocation and report on it so the reviewer gets the assurance they're looking for.
Yes. Most home care agencies we work with are for-profit corporations or LLCs. The audit follows generally accepted auditing standards (GAAS) whether you're for-profit or nonprofit.
Usually a year-end trial balance, bank statements, payroll registers, billing and receivables reports, and your state contract. If your books need cleanup first, our bookkeeping team can handle it before fieldwork so the audit stays on schedule.
Sometimes. Some lenders and contracts accept a review, which costs less. State programs that require an audit won't accept a review. We check your requirement first and recommend the lowest level that meets it.
Yes. GreyWood CPA is licensed in Virginia (firm license #134961) and serves home care agencies across the U.S., with fieldwork done remotely and securely.
Fees depend on revenue, payroll volume, number of locations and whether a Single Audit is needed. Every engagement gets a fixed fee, agreed in writing before work starts.
Send us the requirement and we'll reply with the right report type and a fixed fee.