Navigant helps companies address, mitigate and minimize future issues related to improper accounting or financial reporting, ranging from revenue recognition to loss reserves, to disclosures. Our team has extensive knowledge of relevant financial reporting standards including generally accepted accounting principles (GAAP), international financial reporting standards (IFRS), and experience with Securities and Exchange (SEC) regulations and investigations, and industry-specific reporting and disclosure rules.
Financial Restatement Support
Navigant assists companies undergoing restatements in a variety of ways including acting as a project management office to coordinate the restatement, providing technical accounting support on GAAP issues, providing staffing to supplement existing resources, documenting the restatement for external and internal stakeholders in whitepapers, and assisting in interfacing with external auditors, counsel and other key stakeholders.
Technical Accounting and Financial Guidance
Navigant can provide assistance in: understanding and applying GAAP to complex fact patterns; developing whitepapers setting forth company positions on GAAP application and assist in responding to SEC comment letters; interfacing with external auditors at the client service and national office level; and presenting company accounting positions in regulatory inquiries, including to the SEC.
New Accounting Pronouncements
Navigant can provide policy level as well as tactical implementation assistance to assist companies in adopting new accounting pronouncements. We assist in reviewing and revising internal controls, accounting policy manuals, and providing training on new accounting considerations, as well as providing additional resources to allow for timely and effective adoption of the new pronouncement.
Navigant can assist in the initial recognition and subsequent reporting for purchase accounting transactions through providing guidance on the technical GAAP, and providing assistance in valuing the tangible and intangible assets acquired.
Internal Controls Support
Companies often need additional expertise to evaluate how internal controls address critical risk factors. Navigant can provide an independent review and assessment of your internal control structure. Subsequent to such a review, we can develop a remediation plan, based on our past experience, ensuring that your control structure addresses critical risk factors. We can also oversee and monitor the implantation of the remediation plan or act as an independent consultant.
Navigant personnel have experience working with and as financial accounting executives. As such, we can provide senior management and the board of directors with practical advice in addressing accounting matters, performing internal investigations and interacting with external stakeholders, such as a company’s independent accounting firm and regulators.