Jim K. Schmidt, CPA

Partner

Jim K. Schmidt

I look for ways to help clients take their concept from idea to a business plan and operating facility.

OVERVIEW

Jim provides audit and consulting services to large and small clients in various industries including ethanol and biodiesel plants, manufacturing and food processing. Jim has experience working with management and boards on entities in the startup phase through revenue generation, profitability and assisting them through succession. Jim works with clients on System and Organization Controls (SOC) engagements including SOC 1, SOC 2 and SOC 3 engagements. In addition, Jim is a HITRUST Certified CSF Practitioner, serving clients through readiness engagements and HITRUST certification engagements. He has specific expertise in the auditing of employee benefit and retirement plans and audits of broker/dealers and surprise examinations of RIAs. Jim is a member of Eide Bailly's Employee Retirement Income Security Act Assurance and System and Organization Control committees.

Jim meets clients where they are in their business life cycle, whether it is helping with startup issues, providing insight and information to help define and structure what clients do and how they do it to make them more efficient and effective, or being there to listen to their needs. Jim's strong technical background allows him to envision potential problems and work with clients to develop solutions.

When Jim isn't working, he travels, fishes or is working on some project for one of his daughters. Jim enjoys projects – woodworking, landscaping, home improvement and other inventive ways to bring his creativity and tenacity into something he hasn't done before.

QUALIFICATIONS

Memberships

  • American Institute of Certified Public Accountants
  • Minnesota Society of Certified Public Accountants
  • National Society of Accountants for Cooperatives, North-Central Chapter, Past President and Past Member of National Board of Directors

Designations/Licensures

  • Certified Public Accountant
  • HITRUST Certified CSF Practitioner

Education

  • Bachelor of Business Administration, Accounting and Management – University of North Dakota, Grand Forks

KNOWLEDGE

Client Work

  • Experience includes working with companies from inception and initial public offering to operating companies with more than $1 billion in sales.

COMMUNITY

Community Involvement

  • MN Cup Clean Technology and Renewable Energy Division and Food and Beverage Division judge