Hire Experts To Ease Financial Growing Pains
Mergers, acquisitions and growth all come with some transitional problems, and financial reporting is an important aspect. It can be tough to acknowledge when a project is outside of the area of expertise of your internal teams, but an outside consultant can often greatly streamline the process. This is especially true when a company suddenly finds itself having to adhere to unfamiliar rules or regulations, such as becoming an international entity.
Fahrenheit Finance consultant Sam Suttle recently wrapped-up such a project. Here is his account of how we were able to assist the client:
Our client was a large U.S.-based manufacturer acquired by an international investor. The client needed to quickly and efficiently evaluate and document the financial reporting for a significant number of complex transactions under international financial reporting standards. Fahrenheit was engaged to create a project plan to review the underlying documents and International Financial Reporting Standards (IFRS) to determine the appropriate accounting. Our client lacked the available personnel to staff and manage the project.
Fahrenheit developed a project plan that met the client’s objectives and quickly assembled a project team to perform, review and manage the engagement all within a tightly established timeframe.
In addition to managing the engagement and performing the related work, we took on the training of personnel and assurance of compliance with the external auditors.
Fahrenheit exceeded client expectations by quickly assembling a project team, which completed the task well within the client's deadline, despite an increase in scope that resulted in a significant number of additional transactions being subject to review by the project team.
Sam and our other consultants are more than happy to help you determine if this solution is right for you. Contact us at firstname.lastname@example.org with your questions, and we’ll get back to you right away.