What Verdica's 806 score means for Elliott Davis LLC
Elliott Davis LLC in Illinois has earned a composite score of 806 out of 850, placing it in the "excellent" band (800–850). This score reflects a strong overall compliance and credential profile based on publicly available regulatory data from the PCAOB (Public Company Accounting Oversight Board) and Illinois state board registration records.
A score in this range indicates that the firm meets or exceeds baseline regulatory expectations across the dimensions Verdica tracks. For a business owner or audit committee member evaluating accounting providers, an 806 score suggests low compliance risk relative to the broader provider population. However, it is important to note that Verdica's composite score is a snapshot of regulatory data only—it does not capture client service quality, responsiveness, industry expertise, or pricing. A reader should interpret this score as one data point in a broader vendor evaluation, not as a complete endorsement.
How the sub-scores break down
Elliott Davis LLC's composite score is derived from three sub-dimensions:
License & Credentials (850/850). This perfect score indicates the firm holds all required professional licenses and registrations in Illinois and has no flagged deficiencies in its credential standing. In the accounting industry, this dimension reflects whether the firm and its principals maintain valid CPA licenses, meet continuing education requirements, and have clear registration status with state boards. A score of 850 means no gaps or red flags in this foundational layer.
PCAOB Record (740/850). This score reflects the firm's inspection and audit findings history as tracked by the PCAOB, which oversees public company auditors. A score of 740 falls into the "strong" band and indicates the firm has been inspected and generally complies with audit quality standards, though the score is slightly lower than the credential dimension. In practice, PCAOB records capture issues such as deficiencies in audit documentation, insufficient testing of account balances, or control-related findings. A 740 suggests the firm has manageable findings that did not rise to serious violations, but also that it is not entirely deficiency-free.
Disciplinary (850/850). A perfect score here means Verdica's review of state board and regulatory disciplinary records found no material complaints, sanctions, suspensions, or enforcement actions against the firm. For accounting providers, disciplinary records document formal complaints, negligence findings, or sanctions issued by state boards or regulatory bodies. An 850 indicates a clean record on this front.
What regulators in IL track for accounting providers
Illinois, like all states, requires accounting firms to register and maintain licensure through the state board. The PCAOB conducts periodic inspections of firms that audit public companies, evaluating audit quality, compliance with auditing standards, and internal quality controls. These inspections can result in findings—documented deficiencies—that are made public.
Key compliance areas tracked include: audit documentation completeness, adequate testing of material accounts, proper assessment of internal controls, compliance with PCAOB standards on independence and ethics, timely reporting of findings, and firm-wide quality control policies. Findings can range from minor technical gaps to significant deficiencies that suggest audit risk. Serious or repeated findings can trigger enforcement action, sanctions, or restrictions on audit scope.
State boards separately track complaints, disciplinary cases, and license status. Violations here include negligence, fraud, or breach of professional standards, and can result in fines, license suspension, or revocation.
Bottom line
Elliott Davis LLC's 806 score places it in the excellent compliance band, with particularly strong credentials and a clean disciplinary record. The slightly lower PCAOB sub-score suggests the firm has faced some audit findings, though none severe enough to trigger enforcement. A prospective client should view this as a low-risk provider from a regulatory standpoint, but should still conduct independent reference checks and clarify service scope and pricing before engagement.