Taming out-of-control books for a smooth audit

Company type

Small, private

Industry

Technology

Solution areas

Small Business, Strategic Projects

Challenge:

A technology company whose revenue had tripled almost overnight had a problem: They needed audited financial statements to keep preferred shareholders happy and to meet the terms of their bank loan.
After two years of all-out focus on product development and sales, the company’s books were in disarray.
The staff was already working overtime and was unable to deliver to auditors.

Solution:

Our finance pros dove straight into cleaning up the client’s documentation (and in some cases, locating it).
We reconciled accounts payable going back several years, checking every record.
RoseRyan worked with the VP of operations to deal with complex inventory questions.
We performed account analysis; addressed technical accounting issues like revenue recognition, stock-based compensation and warrants; and prepared audit schedules.

Now, armed with clean financial statements and improved processes, the company is getting ready for a high-profile acquisition—with RoseRyan still on board to assist.

Results:

Meticulous prep for the next audit

Auditor requests anticipated and met

4 years of audited financial statements

Clean auditor opinions

Rev rec and technical issues mastered

Re-focused finance team

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Let’s Talk

Drop us a note in the form and one of our experts will set up a time to discuss the ways RoseRyan can help your business go further, faster.

tel: (510) 456-3056
fax: (510) 456-3063

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