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Audit Readiness – Carve Outs and IPOs

By October 19, 2016Newsletters

At CMF, we have noticed an uptick in carve outs and public offerings. These fast-moving situations can be complex and audit readiness is a necessity for CFOs and auditors alike. Complexity can arise from the fact that:

  • The manpower and bandwidth required of management and audit teams are substantial
  • Carved out divisions typically do not have stand-alone balance sheets and certain corporate expenses might not have been passed down to the division, impacting stand-alone operating margins
  • Public registrants have accelerated quarterly and annual close requirements, which puts increased pressure on the close process and finance department operations
  • Technical accounting issues are new and pervasive to the organization

How Can We Help with Audit Readiness? The Answer: CMF’s Audit Ease™

  • Project Management and Visibility: CMF has experience working cross-functionally with the following groups: corporate finance, divisional finance, HR, legal, and internal and external audit; we know how to identify issues, map out resources, develop a plan, and manage it to completion
  • Technical Knowledge: CMF can create divisional stand-alone and proforma financial statements and footnotes and MD&A; we have strong technical capabilities to craft white papers and develop new, stand-alone accounting policies that are in accordance with GAAP
  • Experience: We have worked issues through the national offices of all major accounting firms
  • Contingent Resources: CMF has Technical, Controller, Analyst and Project Management resources available to augment a company’s existing finance department

We surface issues as soon as possible and resolve them in cooperation with the company and the auditor, enabling internal staff to focus on day-to-day operations, auditors to focus on efficient and timely completion of audits, and shareholders to have the confidence that it will all come to closure soon.

To learn more about CMF’s Audit Ease™ Program, click here, or contact Brian Dwyer.

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