What Verdica's 772 score means for Barfield Murphy Shank & Smith LLC
Barfield Murphy Shank & Smith LLC's composite score of 772 out of 850 places the firm in the "strong" band (740–799). This means the firm meets and exceeds baseline regulatory expectations across the dimensions Verdica measures. A score in this range reflects an accounting provider that has maintained valid credentials, kept a relatively clean disciplinary record, and demonstrated acceptable quality markers in PCAOB audit findings.
For a business owner or client considering this firm, a 772 score signals lower compliance risk compared to the broader population. However, it is not a perfect score. The firm is not in the "excellent" band (800–850), which indicates there are measurable gaps—primarily in PCAOB audit quality indicators—that prevent it from reaching the highest tier. A reader should interpret this as: Barfield Murphy Shank & Smith LLC is a reasonably safe choice from a regulatory standpoint, but there are specific areas where audit quality or PCAOB findings warrant attention before engagement.
How the sub-scores break down
License & Credentials: 850 (Excellent) This perfect sub-score means Barfield Murphy Shank & Smith LLC holds all required licenses and credentials in good standing with the Connecticut state board. The firm is current on registrations and meets all professional qualification requirements. This dimension reflects no gaps in legal standing to practice accounting in the state.
PCAOB Record: 655 (Elevated) This sub-score is the primary driver pulling the overall composite down. A PCAOB score of 655 falls in the "elevated" band (580–669), meaning the firm's audit findings show quality gaps that the Public Company Accounting Oversight Board has identified. In the accounting industry, PCAOB audit findings typically flag issues such as inadequate audit procedures, insufficient documentation, or control gaps in how the firm executes audits of public company financial statements. A score of 655 indicates the firm has documented findings but has not reached the threshold of critical systemic failure.
Disciplinary: 850 (Excellent) Like the credentials score, disciplinary history is clean. No material disciplinary actions, suspensions, or sanctions are recorded against the firm or its principals by the Connecticut state board or PCAOB. This reflects a firm that has not faced regulatory enforcement action in the measured period.
What regulators in CT track for accounting providers
The Public Company Accounting Oversight Board (PCAOB) conducts periodic inspections of registered accounting firms and issues detailed inspection reports. These reports identify deficiencies in audit quality, such as failure to obtain sufficient audit evidence, inadequate testing of internal controls, or documentation shortfalls. The PCAOB score in Verdica's system reflects the prevalence and severity of such findings; firms with fewer or less severe findings score higher.
Connecticut's state board (likely the Connecticut Department of Consumer Protection's Accounting Board) tracks licensure status, continuing education compliance, and disciplinary matters. Regulators monitor whether firms and individual CPAs maintain required credentials, complete mandatory professional development, and comply with ethical and practice standards. Disciplinary actions stem from complaints alleging violations of professional conduct rules, fraud, incompetence, or other breaches.
Verdica synthesizes these two regulatory data streams—federal PCAOB inspection records and state licensing and disciplinary records—to create a composite picture of compliance health. A firm with strong credentials and clean discipline but elevated PCAOB findings (like this one) suggests regulatory standing is solid but audit execution quality warrants scrutiny.
Bottom line
Barfield Murphy Shank & Smith LLC is a strong, low-risk accounting provider by composite score, with particularly solid credentials and disciplinary history. Before engagement, prospective clients should request the firm's most recent PCAOB inspection report to understand the specific audit quality findings driving the 655 sub-score and confirm those issues have been remediated.