Audit of Financial statements

  1. Our audit and assurance services help you get to know your business even better and on every level. We work with you to help you meet assurance demands. Our audits provide essential insights into the current state of your business and help you to envision and plan a stronger future for your organization.
  2. We understand the challenges facing our clients, their industries and changing business risks. We’re dedicated to helping you achieve your strategic growth goals and can successfully guide you through mergers and acquisitions, sales of businesses, and restructurings. Some of the services we provide include:
  3. Audits of annual financial statements for both public and nonpublic companies
  4. Review of quarterly financial statements, including those for public companies
  5. Audits of employee benefit plan financial statements, including plans required to file Form 11 K with the SEC
  6. Audits of ICFR, as required by Section 404(b) of the Sarbanes-Oxley Act of 2002 and conducted in accordance with PCAOB Auditing Standard No. 5
  7. Other professional auditing services in connection with filings with the SEC

Review of Financial Statements

A review consists principally of inquiries of company personnel and analytical procedures applied to financial data. Its scope is significantly less than that of an audit, and it does not provide a basis for the expression of an opinion on an organization’s financial statement. Rather, a review provides limited assurance that no material modifications should be made to the financial statements to bring them into conformity with their applicable financial reporting framework. Yet the smaller scope doesn’t mean a reduction in quality.

Compilation of Financial Statements

A compilation differs significantly from and is substantially less in scope than a review or an audit of an organization’s financial statements. The objective of a compilation is to present, in the form of financial statements, information that is the representation of management without the expression of an opinion or any assurance that there are no material modifications that should be made to those financial statements for them to be in conformity with the applicable financial reporting framework. Accordingly, a compilation requires significantly fewer procedures than either an audit or a review.

SOC Audit

Many service organizations depend on the integrity of their control environment to serve and protect their customers and business. Accorp provides high-quality verification of these control environments through SOC examinations. Engagements of this nature report on the effectiveness of the controls and safeguards in place, providing you with feedback that’s both independent and actionable. Our approach to staffing these audits is to combine industry-focused and seasoned auditors with operational and IT auditors capable of addressing your unique control environment requirements.

Internal audit

Reduce risk and improve operational performance.

Strategically evaluating and managing risk can encourage the following:

  1. - Decreased worry
  2. - Effective business and operational controls
  3. - Improved compliance monitoring
  4. - Improved strategic planning
  5. - New business opportunities

Internal audit is a vital component of governance and strategic risk management. It provides an additional element to risk assessment across your organization, facilitates improved processes and controls, address regulatory or other compliance issues, and ensure processes are efficient through the COSO framework.

Our internal audit professionals bring strong process, procedure, internal control and risk management experience to your organization. We bridge these skills with specialized insight related to risk and compliance and specific industry knowledge, to help your organization reduce risk and improve operational efficiency.

Enterprise Risk Management (ERM)

Today’s organizations face a business environment that is growing in scope and complexity, including increased use of information technology and increased regulatory requirements. Due to these growing challenges and demands, a traditional risk management approach is no longer enough. Organizations need to embrace a more strategic and holistic management of risk, not simply to avoid landmines, but to enable the exploration of possibilities.

Enterprise risk management helps your organization see the opportunities it can’t afford to miss—as well as the risks it needs to understand and manage. Organizations that fail to assess and plan for potential risks may open themselves up to fines, increased regulatory enforcement and tarnished reputations. Organizations that respond appropriately to the challenges will not only be more agile in managing associated risks, but also find opportunities for growth and strategic success.

At blum, our ERM team utilizes a four-step methodology to help clients create their own ERM process—looking at each client’s unique needs and developing a deeper understanding of their business, systems, external environment and organizational culture.

  1. Phase 1: Risk Governance Structure
  2. Phase 2: Risk Identification and Prioritization
  3. Phase 3: Risk Mitigation and Testing
  4. Phase 4: Risk Monitoring and Tracking

We work with our clients to build an ongoing ERM business that adds value—helping to explore “what needs to go right” and “what can’t go wrong.”

Financial Forecasts

Our advisory consultants help you prepare the financial forecasts or projections you need. We understand the underlying assumptions of lenders and develop strong approaches to help you secure financing.

Due Diligence

Before entering into an agreement or a financial transaction with another party, consider the essential factors that will guide your decision: vetting the investment for financial stability and future growth potential, weighing pros and cons, negotiating the best terms, and identifying discrepancies that may indicate possible drawbacks in the future. You want to be sure you get the right acquisition for your organization—with the best value.

Blum will shape a complete picture of the overall circumstances and provide guidance on how to use them to your advantage. Our Transaction Advisory Group will help you reduce risk by collecting and analyzing the material facts of your prospective investment. We work with you to identify areas of focus, and the procedures we perform are designed to address your specific needs, so you can confidently determine whether the transaction you’re considering is right for you.

Our due diligence services address elements such as:

  1. Analyzing quality of earnings and quality of assets of the prospective investment
  2. Performing financial projections
  3. Identifying hidden costs
  4. Identifying filing and compliance requirements for federal, state and local taxes
  5. Mitigating risks associated with the transaction
  6. Assessing technical environment and capabilities

ACCOUNTING & OUTSOURCING SERVICES

Full Back Office Financial Outsourcing (AP, AR, GL)

Our outsourcing team can run all or part of your finance function (Accounts Receivable, Accounts Payable, General Ledger, Month End Close Process) to ensure that you get accurate, timely management information in a format that meets your needs and reporting requirements. With substantial experience in a variety of software packages, we deliver a tailored solution that works for your business.

Receivables Management

We have extensive experience in advising on all aspects of debt and credit management, resulting in the production of high quality, detailed reporting to provide additional comfort to asset-based lenders, enhancement of new business proposals, and strategic advice to distressed businesses and debtor book collections for struggling or failed businesses.

Payables Management

We cover all aspects of payables management from processing of invoices using technology such as optical character recognition, review of supplier statements and reconciling accounts, to payment of invoices using our bacs bureau, which includes issuing remittances. We take the administrative burden out of your accounts payable process.

Preparation of Management Accounts

We design and deliver tailored dashboards and management reporting packets to meet your requirements and those of your stakeholders. Combining financial and non-financial data, we put you back in control of your reporting and provide the analysis you need to make quick decisions.

SALT Compliance

Our SALT experts can ensure that your sales and local tax returns are fully compliant.

Coordination of International Compliance through inControl

Managing an international group or multi–location company is complex and high risk, particularly where compliance issues are concerned. You may have ultimate responsibility for financial and tax compliance for the group but are dependent on remote teams or outsourced suppliers. We can help you deal with complicated, local regulatory regimes using our online portal. inControl is a real-time information dashboard which reports on all your accounting and compliance activity cutting the risk of problems or missed deadlines.

Accorp has developed the traditional auditing role into a process that helps us gain a deeper understanding of our clients’ needs.

Our process uses knowledge and wisdom to provide value-added suggestions that help our clients achieve financial and operational success.

Revenue recognition

Since the issuance of the new revenue recognition standard, Deloitte has been lighting the way for clients. Our understanding of the new standard combined with industry insight can help both public and private companies anticipate the sometimes challenging terrain ahead.

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OUR INDUSTRIES INCLUDE:


  • Advertising | Communications | Technology
  • Architecture | Engineering | Construction
  • Family Office | High Net Worth Individuals
  • Financial and Related
  • Healthcare
  • Hospitality
  • Insurance Brokers and Agencies
  • Law Firms
  • Manufacturing | Distribution | Retail
  • Not-For-Profit Organizations
  • Real Estate
owner

CA,LL.B,B.com

Pankaj Goenka

Compliance and reporting Leader

owner

CA,B.com (H)

Sanyam Goel

Trust and Transparency Solutions Client and Markets Leader, Accorp uss