Staff at RHR Smith & Company are members of the American Institute of Certified Public Accountants, and the Maine Society of Certified Public Accountants.
We follow Generally Accepted Accounting Principles (GAAP) and Generally Accepted Auditing Standards (GAAS), as well as government auditing standards established by the Government Accounting Standards Board (GASB). We follow professional regulations and standards established by the AICPA, We also meet Government Auditing Standards for Yellow Book and audits based on OMB Circular A-133 (for governments and nonprofits receiving federal funds) and regularly conduct audits to meet Maine Accounting and Audit Practices (MAAP) requirements.
As a member requirement of The American Institute of Certified Public Accountants, the firm is enrolled in the Peer Review Program. Under this program, our firm is audited every three years by another firm of similar size, and who is independent of our firm.
The firm of RHR Smith & Company also maintains a very structured internal quality control system designed to meet the standards of The American Institute of Certified Public Accountants.
RHR Smith & Company Code of Conduct:
RHR Smith & Company complies with all professional standards of conduct, including those established by the American Institute of Certified Public Accountants.
As a company we:
1. accept the solemn responsibility of the public trust;
2. meet or exceed expectations in matters of confidentiality, honesty, integrity, and professional excellence;
3. maintain independence and objectivity;
4. observe both the form and the spirit of technical and ethical standards;
5. discharge professional responsibilities with competence and diligence;
6. properly use government information and resources;
7. respect the auditor/client relationship;
8. behave professionally and treat our clients with respect at all times.