Financial Statement Restatements

Mistakes happen. If you find yourself looking at a potential restatement of the financial statements, it’s important to act swiftly and carefully to get the accurate information out there.

Pain Points:

  • Few companies have experience dealing with the fallout from the need to restate and often underestimate the work involved
  • Inexperience in dealing with financial statement restatements may cause delays in publishing accurate information, which can add to the negative impact
  • The process is often long, complicated and burdensome, putting a strain on resources
  • Limited internal capacity for the ongoing heightened scrutiny from external auditors

Solution:

  • A dedicated, experienced team that manages the entire process from discovery through restatement
  • Thorough root cause analysis of the underlying reasons that led to the error
  • Verification and correction of all affected accounts
  • Careful preparation of amended SEC filings
  • Committed, expert support for the external audit process
  • Assessment of internal controls over financial reporting and required remediation

Benefits: 

  • Clear communication with key stakeholders (internal and external)
  • Timely resolution—restated financial statements are issued as quickly as possible
  • The start of restoring reputation and shareholder value
  • Remediation of underlying issues reduces the likelihood of needing future restatements

The restatement process puts a relentless strain on in-house finance teams. Experienced pros can assist with project management, navigate all aspects of the process, correct the accounting, ensure compliance with regulatory requirements, assess internal controls and remediate underlying issues.

Client Profile:
Mastering the restatement process with finance experts

RoseRyan tracked and managed the entire restatement process for a benefits administrator.

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

All fields are required.