FINANCIAL REPORTING CONSULTING
Our Experience
Gray, Gray & Gray’s Financial Reporting Consulting Group provides assistance related to preparing financial statements, organizing in advance of annual audits, and preparing SEC filings across a wide range of company types. We take a comprehensive approach to financial reporting by providing services that address your company’s unique set of challenges.
Our experienced professionals are ready to consult on the preparation and review of financial statements in a timely manner while also helping to ensure the accuracy and quality of the reports. We also review internal staff preparations of financial statements, as well as coordinating and drafting of the notes to the financial statements for annual and quarterly reports.
We support the preparation, processes and procedures associated with annual financial audits, as well as assisting with the timely and accurate filing of some SEC forms. This includes review of staff preparations of SEC filings such as Forms S-1, S-4, 10-K/10-Q, 11-K and 8-K.
We can also serve as an “as needed” technical resource for internal accounting and audit staff regarding questions related to financial statement preparation questions and auditor questions.
It is our goal to help you unlock the potential of financial analysis and reporting as more than a compliance requirement, but to identify and leverage insights that can contribute to improvements in business and financial operations in areas including debt management, trend tracking, cash flow, and management of liabilities.
Our Services
Our financial reporting consulting services include:
- Prepare or review financial statements and notes
- Review SEC filings, including MD&A and Forepart
- Prepare or review technical accounting memoranda & communication of new pronouncements
- Consult with management regarding auditing and reporting matters
- Prepare or review financial press release and analyst conference call script
- Consult with client regarding Sarbanes-Oxley compliance and certification
- Review internal management reporting and financial analysis
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Frequently Asked Questions (FAQ)
Financial reporting consulting bridges raw accounting data and the formal financial statements, SEC filings, and regulatory reports that companies must produce. It’s often needed during significant changes such as IPOs, mergers, first-time audits, restatements, or rapid growth exceeding internal capacity. If your staff is capable but stretched, or if complex transactions exceed expertise, our financial reporting consulting services fill the gap without the cost of a permanent hire.
Auditors provide an independent opinion on your financial statements and cannot prepare them without compromising independence. Our financial reporting consultants assist your team by preparing statements, drafting notes, reviewing SEC filings before submission, and advising on complex transactions. We handle the preparatory work that facilitates a smooth audit and ensures accurate financial presentation before oversight review.
An S-1 registration statement and subsequent 10-K and 10-Q filings require financial statements and disclosures that meet SEC standards, often more demanding than those of private companies. We can review historical statements, assess needed restatements or reclassifications, draft or review MD&A sections, and coordinate with your audit team to ensure an efficient transition. Proper upfront work prevents costly delays and SEC comment letters.
SOX requires public companies to document and test their internal controls over financial reporting and mandates that senior executives certify the accuracy of their financial statements. If you are, or plan to become, a public company, SOX compliance is mandatory. It influences accounting control design and audit documentation. Our financial reporting consultants are experienced in SOX and can assess your control environment, identify gaps, and develop processes and documentation to satisfy auditors and regulators.
When companies release earnings or financial guidance, the numbers and language must align with financial statements and SEC filings. We have the ability to review press releases and conference call scripts to identify discrepancies, ensure proper disclosure and labeling of non-GAAP measures, and confirm the narrative accurately reflects the data. This review helps prevent embarrassing restatements or SEC inquiries over unintentionally misleading statements.