Blueprint for Success
With no knowledge of the historical financials and constrained capacity, the client’s inhouse finance and accounting team – which was new – was mainly focused on scaling the high-growth business. The situation was complicated by poor to no process documentation, and little to no backup for posted journal entries. The external audit team was also new, and had no industry knowledge, leading to a protracted audit with an unexpected account cleanup required. As a result, there was high turnover of the external audit team, making the project even more difficult.
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