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