Fred R. Smith, CPA

Fred is a founding shareholder of the firm begun in 1976 and is the senior audit shareholder. He developed the firm's first quality control document together with its audit and reporting manual. With this in place, he instigated the firm's initial peer review as a founding member of the SEC and PCPS peer review sections of the AICPA in 1980.

Over the years, he has had a broad and varied background in audits of privately held companies, not-for-profit organizations, and financial institutions. Fred's greatest experience has come from extensive involvement with manufacturing, construction industries, municipal and Texas Education Local Agencies.

He has appeared before numerous construction trade groups as a featured speaker on current tax and accounting issues, handling a tax audit and succession planning. In addition, Fred has appeared as expert witness for construction accounting methods and to assist the court in understanding complex accounting issues.

Additionally, Fred is responsible for overseeing the planning, directing and conducting of governmental entities and not-for-profit institutions receiving federal financial assistance. In accordance with the Single Audit Act of 1984, these audits are conducted in compliance with Government Auditing Standards and OMB Circular A-128, Audits of State and Local Governments, and OMB Circular A-133, Audits of Institutions of Higher Education and Other Nonprofit Institutions. In addition to Generally Accepted Auditing Standards, these standards require the auditor to perform tests of controls to evaluate the effectiveness of the design and operation of internal control structure policies and procedures considered relevant to preventing or detecting material noncompliance with applicable federal laws and regulations and other contractual requirements of the funding sources. All engagements include the preparation of a management letter that communicates deficiencies in controls or opportunities for improvement in operations observed during our audit.

Fred performs specialized engagements consisting of identifying internal operations control and related EDP problems. Procedures include developing an understanding of the entity's internal control structure, performing tests of compliance with established policies and procedures and identifying weaknesses to management. He has been a member of ITA (Information Technology Alliance) since 1972, which has been the leader in the accounting profession for technology advancement since inception.

Fred Smith is jointly responsible for the accounting, auditing, and quality control systems for the firm, in addition to his responsibility for administrative matters.

A 1966 BBA graduate of Baylor University, Fred became certified in 1968. A member of the American Institute and Texas Society of CPAs, he also has extensive committee experience with the Dallas Chapter and Texas Society of CPAs, having served on numerous and various committees at the state and local level.

William M. Shamburger, Jr., CPA

Bill has been a member of the firm since its inception in 1976 and became a shareholder in 1977. He has headed the Tax Department since the early 1980's and is responsible for all aspects of the tax planning and compliance services the firm provides.

Bill is a past member of several tax and real estate committees of the Dallas Chapter of CPAs and the Texas Society of CPAs as well as serving eight years on the business and audit committee of the Baptist General Convention of Texas. He has appeared before several accounting and trade groups as featured speaker on various tax and accounting topics.

A graduate of Baylor University in 1971, Bill received his CPA certificate in 1972. He is a member of the American Institute and Texas Society of CPAs as well as the Dallas Chapter of CPAs.

Patrick J. Laubacher, CPA

Pat Laubacher, a shareholder, has been with Judd, Thomas, Smith & Company since 1984. He is currently the director of audit services and is involved in the detailed fieldwork for many of the firm’s audits.  Pat holds a BBA in Accounting from the University of North Texas, and is a member of the American Institute of Certified Public Accountants and the Texas Society of CPAs.

Pat has extensive experience in a multiple of industries.  These include financial institutions, employee benefit plans, manufacturers, direct wholesale distributors, retailers and nonprofit entities.  He works with many small and medium size businesses, coordinating, balancing and maximizing the benefits available from an income tax and accounting perspective, both for the business and the respective owners.

He is in charge of the Firm’s audit and accounting quality control.  In this role, Pat oversees and coordinates the Firm’s membership in the SEC Practice Section of the American Institute of Certified Public Accountants, which entails a peer review of the Firm’s quality control policies and procedures every third year for compliance.  Judd, Thomas, Smith & Company joined the SEC Practice Section to demonstrate our Firm’s commitment to quality, and has successfully completed all of our peer reviews since joining the SEC Practice Section in 1981.  The major objective of the AICPA Division for CPA firms is to enhance the quality of accounting and auditing services provided to the public.  Peer review provides assurance of each member firms’ commitment to this objective.  Peer reviews are performed by CPAs from other member firms in accordance with standards established by the Division.

William H. (Rick) Mozley, CPA