Accelerated First Time Audit of Business Unit Carve Out

VIP SOLUTIONS CASE STUDY

BACKGROUND

Our client required a first time audit of a business unit carve out in preparation for sale of units to separate third parties. VIP was engaged to manage the client’s execution of these strategic initiatives.

OBJECTIVES

VIP Solutions Case Study

Determine appropriate & supportable allocation methodology for business unit carve out.

VIP Solutions Case Study

Prepare carve out financial statements, rollforwards and reconciliations for audit.

VIP Solutions Case Study

Prepare deliverables for multi-use: audit completion and diligence by prospective buyer.

SOLUTIONS

VIP Solutions Case Study

Prepared project plan with detailed tasks and timelines required for 90-day audit window and achieved commitments to deadlines.

VIP Solutions Case Study

Reviewed various allocation methodologies with company & determined appropriateness for each level of financial activity by business unit.

VIP Solutions Case Study

Coordinated balance sheet reconciliations, income statements, account analysis and footnote preparation with auditors and geographically-dispersed staff.

VIP Solutions Case Study

Prepared multiple reconciliations and analyses. Drafted financial statements with footnotes and schedules.

VIP Solutions Case Study

Assisted with stock valuation determinations for business units with multiple parent company transactions, both public and private.

VIP Solutions Case Study

Reviewed proposed audit adjustments and determined appropriateness for posting, noting or passing. All proposed adjustments were not significant to the financials.

VIP Solutions Case Study

Drafted presentation materials for sales packets and responded to questions from potential buyers in a restricted timeline environment.

Clean audit option on
first ever audit of carved out business units
in a 90 day window.