Manufacturing
INDUSTRY
350
EMPLOYEES
$250M
ANNUAL REVENUE
Audit Preparation & Reconciliations
VIP SOLUTIONS CASE STUDY
BACKGROUND
Our client’s accounting function was overburdened, leading to audit delays, financial statement adjustments, and audit adjustments. They needed support cleaning up reconciliations and preparing audit schedules to ensure an accurate and timely audit.
OBJECTIVES
Perform reconciliations of all Balance Sheet and P&L accounts
Prepare supporting schedules to present to auditors for audit
Organize recurring and regular tasks and activities
Develop and review processes for out-of-the-ordinary transactions
Prepare financial statements and footnotes for management
SOLUTIONS
Quickly assessed client staff proficiencies and deficiencies
Prepared digestible, consistent reconciliation schedules for all assets, liabilities, equity, and related P&L accounts with related supporting documentation
Created ongoing accounting processes and procedures and process documentation in order to train staff
Reviewed financial statements and footnotes with client management
Addressed all prior-year audit deficiencies and reconciled all accounts in order to prepare client for timely audit completion without further adjustments.
