PCPS Membership

tpbs is a member of the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA). tpbs adheres to the strict quality control standards and high professional standards of the PCPS, AICPA and California Board of Accountancy. Accordingly, we have subjected our audit and accounting practice to quality control review by our peers. We have received clean opinions on all of our Peer Reviews.

Independent Review of Quality

In conducting a Peer Review, a team of independent CPAs tests our compliance with professional standards in the following areas of quality control:

• Independence, Integrity, and Objectivity -- Performing professional responsibilities with objectivity and integrity. Each professional on our staff must adhere to the firm's independence policies and procedures in all practice areas, in fact and in appearance.

• Personnel Management -- Having the right people on the job at the right time is key to quality work. Our training includes a minimum of 120 hours of continuing professional education every three years. Assignments are based on the degree of technical training, proficiency required, and the supervisory personnel involved.

• Acceptance and Continuance of Clients and Engagements -- We closely review each client served in order to minimize the likelihood of association with a client whose management lacks integrity, or in any way could damage the professional reputation of the firm. We also evaluate our capabilities and resources prior to accepting an engagement.

• Engagement Performance -- The work performed by engagement personnel must meet not only professional standards, but also the firm's standards of quality. Our system of ensuring the quality of engagement performance encompasses all phases of the design, execution and review of the engagement.

• Monitoring -- To ensure all the above quality control procedures are being followed, we perform annual internal inspections. In addition, we evaluate the relevance and adequacy of our quality control procedures on an ongoing basis.

FS Code of Conduct

Foundation for Fiduciary Studies

tpbs adheres to the Code of Conduct established by the Foundation for Fiduciary Studies and endorsed by the AICPA.  The Foundation for Fiduciary Studies is a nonprofit organization which develops and advances practice standards of care for investment fiduciaries.

Mission of the Foundation for Fiduciary Studies

To develop and promote the Practices that define a prudent process for investment fiduciaries.

Fiduciary Code of Conduct

If you're going to do it --
Do it right.

As you manage investment decisions: Document the process; Hire competent professionals;
Monitor results; and Always remember you have been entrusted with someone else's money.

Never invest in something you don't understand or is difficult to value.
Know what you're paying for --
Don't hire the fox to count the chickens.

Understand that, when everyone is talking about making a killing --
The market already is dead.

Cautiously approach investments that promise superior results. Believe in the statement
The past is no indication of future performance.

Relish the opportunity to be a steward of sound investment practices for,
in the end, it's procedural prudence, not performance that counts.