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January 18, 2019

Audit Readiness: Carve Outs and IPOs (blog)

Carve Outs and IPOs

At CBIZ CMF, we continue to see an uptick in carve-outs and public offerings. These fast-moving situations are usually complex, and audit readiness is a necessity for CFOs and auditors alike. Complexity can arise from the fact that:

  • The resources and bandwidth required of management, staff, and audit teams are substantial
  • Carved-out divisions typically do not have stand-alone balance sheets, and certain corporate expenses might not have been passed down to the division, impacting stand-alone operating margins
  • Cash management and forecasting elevates as a priority
  • Public registrants have accelerated quarterly and annual close requirements, putting increased pressure on the close process and finance department operations
  • Technical accounting issues are new and pervasive to the organization

How Can We Help? CBIZ CMF’s Audit Ease™ Program

  • Project Management and Visibility: CBIZ CMF has experience working cross-functionally with corporate finance, divisional finance, HR, legal, and internal and external audit groups. Our team identifies issues, maps out resources, develops a plan, and manages it to completion
  • Technical Knowledge: CBIZ CMF creates divisional stand-alone and proforma financial statements, footnotes, and MD&A. We have strong technical capabilities to craft white papers and develop new, stand-alone accounting policies that are in accordance with GAAP
  • Integrated Tax Assistance: Tax provisions, analysis, and issue resolution are integrated into our overall service offering
  • Experience: Our dedicated Audit Ease™ team is comprised of seasoned Big Four alumni and financial management veterans. We approach projects with informed experience and have effectively worked with national offices of all major accounting firms
  • Contingent Resources: CBIZ CMF has Technical, Controller, Analyst, Tax, and Project Management resources available to supplement a company’s internal finance team

CBIZ CMF’s experienced team works closely with a company's finance team and external auditors to get ahead of issues. We save you time in the audit process allowing internal staff to focus on day-to-day operations, auditors to focus on efficient and timely completion of audits, and shareholders to have the confidence that it will all come to closure soon.

To learn more about CBIZ CMF’s Audit Ease™ Program led by Managing Director, Clare Yuritch, please click here.

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