Occasionally, there is a need for the review of books and records to ensure accuracy in financial reporting with Designated Examining Authorities (DEA). This most commonly occurs during the potential purchase/sale of a member firm. The purchasing group is committing to a purchase price and, to protect their investment, will need an external review of the financials. This accounting due diligence process ensures there are no material misstatements and mitigates the likelihood for potential fines from regulators as the result of failure to maintain accurate books and records and sufficient net capital above the statutory requirement.
In these scenarios, ACI will review the accounting books and records and provide insight to new ownership as to what the potential risks may be in effecting the transaction.
Give us a call at 212-668-8700, or follow the contact form link below to learn more.