Rules governing revenue recognition, leases, and loan loss reserves are but a few of the potential issues a company may face when it comes to complex financial reporting requirements. Whether it be a U.S. or foreign SEC registrant, GAAP-related issues can be complicated by the vast amount of interpretation they may be subject to. Complex financial reporting issues can trigger a missed SEC filing deadline or a financial statement restatement, which will frequently draw the attention of regulators.
When faced with reporting issues, it’s critical to have independent experts on your side that can help correct any improper accounting promptly and thoroughly. AlixPartners’ professionals have advised companies and their auditors involving complex financial reporting issues that have made headlines past and present – from revenue recognition in software technology to loss reserves in mortgage-backed securities. Our team consists of former auditors who understand the continued evolution of GAAP and are well versed to deal with the requirements companies face today and in the future. We recognize that addressing irregularities only goes so far; determining why they occurred is what matters.
AlixPartners’ team of professionals has deep experience in working with the SEC and other regulatory bodies concerning issues related to U.S. GAAP, IFRS and IAS reporting and disclosure concerns. We provide the expertise that helps companies determine an appropriate accounting treatment or make necessary changes in accounting to meet requirements by auditors and regulators.
We have assisted companies globally by providing objective evaluation of:
- Compliance with relevant generally accepted accounting standards
- The circumstances that led to the potential irregularity
- Procedures required to prevent such issues from occurring in the future
We have assisted companies in:
- Independently dealing with their auditors on issuance or reissuance of publicly filed financial statements
- Communication with regulators on the nature of any financial reporting concerns and any remedial actions