Company seeks audit support and gains a valued consultant
The client is a multi-billion global engineering, construction, technical and management services firm. They deliver design, construction and other professional services to federal, regional and local government agencies, as well as to private industrial customers worldwide. The company was used to handling most of its work in-house, but came to PwC initially for its audit needs.
What we did
Through conversations with management, our team grew to understand the organization and its issues from an audit, tax and advisory perspective. We proactively brought forth issues the company needed to understand and address, such as the new revenue recognition standards and FASB 167. We also provided advice that helped the company develop efficient, cost-effective processes. Our team took a similar proactive approach with regards to problem areas in the company’s joint-venture relationships.
Our proactive, insights-driven methodology has helped the firm understand risks and opportunities. It now considers and engages with PwC as its valued business advisor.
Getting ready for a public debut
A private manufacturing company with a global presence and multiple manufacturing, technical and sales facilities worldwide had aspirations of going public. It had previously been audited by a non-Big Four firm but knew it needed to enlist with a Big Four auditing firm in anticipation of an IPO. The private company, having established a solid relationship with PwC through past relationship building, engaged our team.
What we did
First, we performed consolidated US GAAP audit and statutory audits. Next, we offered insight into IPO considerations, control structure recommendations and operational considerations. Finally, we provided access to experienced industry and technical accounting professionals.
The private company is better prepared to meet its goals for going public and has initiated steps to improve its existing processes.
Finance transformation solutions
Before embarking on an enterprise resources planning (ERP) project, a large, private university sought to understand the risks involved and the overall fit of the ERP solution to the institution’s business needs. PwC was engaged to conduct an organizational readiness assessment for a cloud-based implementation.
What we did
PwC’s team performed a risk analysis, which identified potential points in the implementation process that might affect the return on investment. We also evaluated the fit between the university’s needs and cloud-based solutions for finance, supply-chain and human capital management. Next, our team reviewed the organization’s current state, including structural and people-based, and suggested recommendations to mitigate risk. We also provided foundational actions needed ahead of any solution.
The system implementation drove the university’s process efficiencies, eliminated its manual and fragmented processes and provided critical data and insights to support its business decisions.