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Chad Welty
CPA
Quality Control Officer, Principal
Wooster, OH
Resident of Wooster, OH
Rea Team Member Since 2005
- At Rea, Chad specializes in school and local government auditing, GAAP conversions, agreed upon procedures and consulting.
Topics or areas of expertise that Chad can talk about (even in his sleep):
- Generally accepted accounting principles (GAAP)
- Statement on auditing standards (SAS)
- Generally accepted auditing standards (GAAS)
- Internal controls
- Fraud risk assessment
- Peer Review
- Quality Control standards
How we know he knows what he's doing:
- Chad earned his bachelor of science in accounting from the University of Akron.
- He has more than 25 years of accounting industry experience, with more than 20 years spent focusing on government entities.
Furthering his professional development, Chad is involved with:
- American Institute of CPAs
- The Ohio Society of CPAs (member of Peer Review Committee and Review Acceptance Board member)
- Ohio Government Finance Officers Association (Education committee member)
When he's not in the office, you can find him:
- Golfing
- Traveling
- Spending time with his wife and children
How he's helped clients meet their business needs:
- A new treasurer of an entity was not comfortable with the internal controls procedures in place in terms of their efficiency and design to reduce risk. We performed an internal control study to identify potential weaknesses in internal controls and provided recommendations to strengthen internal controls to reduce the risk of errors and/or fraudulent activity.
- An entity's general ledger included several miscoded and/or unrecorded transactions that prevented them from properly preparing financial statements that could be audited. We evaluated the general ledger account coding to provide recommendations to the financial records which would properly report and classify transactions in order to prepare financial statements that can be audited.
- An entity was unable to properly reconcile their bank accounts to the general ledgers, primarily caused by inaccurate general ledgers. We assisted in performing bank reconciliations in order to accurate state account balances.
Inside The Mind Of...
- What does "A Brighter Way" mean to you? To me it means proving the best possible way of providing value, quality and technical service to our clients.
- Why do you choose to work at Rea? Rea provides the most opportunities that anyone can ask for. Whether it is personally or professionally. Whatever your goals are in life, Rea provides you with what you need to meet them.
- What's your favorite aspect of your job? Being able to get out from behind a desk and build relationships with team members and clients. Cranking out work every day can build stress, but constant contact with other team members and clients can provide that break and satisfaction of doing so much more than just producing a product.
- What line of The Rea Way describes you the best? Embrace change. It's always coming and at a very fast pace. You have to be willing to embrace it or you will be left behind.
Just For Fun:
- What profession would you choose if you didn't go into accounting? Entrepreneur.
- What makes you get out of bed every day? The alarm clock!
- What is your most prized possession? My family.
I'm a person who is passionate in everything I do, whether it is with my family or my career. I work hard at work; however, I make sure I dedicate time to myself and family to ensure a strong work/life balance.