Meet Padavic and Fleer, Certified Public Accountants
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Padavic and Fleer, Certified Public Accountants began as the firm of Joseph W. Padavic, CPA, P.C. over 30 years ago when Joe Padavic decided to begin his own public accounting firm. Over the past years the business has grown into a well established accounting firm with individual and business clients of all sizes. Five years ago, Padavic approached his staff accountant, CPA Danielle Fleer, to be his partner and eventual successor. She accepted and as of January 1, 2011, Padavic will retire, although he plans to remain involved in the firm in an advisory capacity, and “Padavic and Fleer” will become Danielle M. Fleer, CPA, P.C., continuing the 30-year legacy of the local accounting firm.
Fleer is a Quincy native, and she and her husband, Jason, now live in Mendon with their two children. She earned a bachelor’s degree in accounting from Quincy University and an MBA from Western Illinois University. She has 11 years’ experience in public accounting, serves as a Board member for the Quincy Area Chamber of Commerce and is a member of the Quincy Noon Kiwanis Club.
“Our services are very broad,” says Fleer. “We have found a niche providing business tax services for the construction industry and we have a growing farm clientele, but we complete tax returns for all different types of businesses and individuals, help with estate planning and trusts, consult with entrepreneurs on new business formation, help plan for business succession, and also perform basic payroll and write-up services as well.”
Another aspect of the firm is auditing and financial statement preparation. We perform attest services at various levels for businesses, nonprofit organizations and local government entities. A compilation is the lowest level of service, in which the financial statements are prepared by a CPA, but with no assurance placed on the financials. Often compiled financial statements by a CPA are required by banks, lending institutions, and insurance companies. Reviewed financial statements are a higher level of service in which the CPA provides limited assurance that the financial statements are not misstated and that the user can rely on them. An audit of the financial statements is the highest level of service and provides reasonable assurance that the financial statements are not materially misstated.
“In an audit, I need to get a good understanding of how the business runs,” Fleer says. “Just a few of the procedures performed in an audit include reviewing written policies and procedures and reading Board minutes. I have discussions with staff members, Board members, bankers and lawyers. We must make sure that the staff is handling and investing and spending money as directed.
“Full audits are not for every organization, though, because they can be costly,” she continues. “It is a misconception that by having an audit, fraud will be detected or prevented. If an audit is not required by law, by a grantor, bank or insurance company, or some other designee, an audit may not be the most cost effective approach towards fraud prevention and detection. Businesses need to have sound internal controls, segregation of duties and effective management and/or board oversight. This is the best way to prevent fraud.”
Fleer also notes that she likes to empower her clients to do as much work in house as possible. “I never want to do for someone something that they want and are capable of doing themselves,” she explains. “I will gladly provide training and support so that basic bookkeeping and payroll services can remain in house if it is more cost-effective to do so and if the client is comfortable.”
For more information about Fleer’s accounting services, call 222-0072. The firm is open Monday through Friday at 2327 N. 12th Street from 8 a.m. to 4:30 p.m. or by appointment. Hours are extended during the tax filing season.
*On Jan. 1, 2011, the company's name changed to Danielle Fleer, CPA, PC.
