Small Firm.
Big Experience.

Here at Edwards, Faust & Smith, we pride ourselves with the ability to provide the quality and experience of a large accounting organization with the warmth and personal touch of a small firm.

EFS has provided audit and accounting, tax, business consulting and information technology services throughout the region and beyond for the more than 20 years. Our focus is spending quality time with our clients to provide solutions tailored to their needs. Working at our office, on-site or “virtually” via remote services, we here at Edwards, Faust & Smith are always available when our clients need us.

What sets us apart from other firms?

  • All our partners worked for “big four” or large regional accounting firms, gaining their experience from some of the best people in the profession.
  • We send partners on every audit, compilation, and review.
  • Our turnover is very low, so our clients can count on familiar faces and staff that know them and their business.
  • We have passed every peer review since our establishment in 1991.
  • We are committed to being a socially responsible business.

Efs News

  • Large Partnership Tax Audits

    In 2015, a law was enacted to simplify the exam process of large partnerships. The IRS will audit a partnership and collect any additional taxes from the partnership, itself (not the partners). The partnership has the option of adjusting K-1s to the partners.  Partnerships with 100 partners or less, may opt out, in which case, the IRS will need to adjust each individual partner’s return. Read more →

  • Why Do Audits Cost So Much?

    Being an external auditor is a privilege, earned through education, testing and the constant meeting of auditing and accounting standards.  Audits must comply with various governmental agency requirements (state and federal). To remain qualified, auditing firms spend significant hours and money staying up to date with changes in the profession, on software and research material and on having their audit work reviewed by a third party and occasionally a fourth party. Additionally, the work spent preparing and performing an audit to meet the standards discussed above is extremely time consuming.  Considerable time is spent setting up the audit and determining Read more →