We understand that audit requirements are different for private companies and “one size does not fit all.” PwC’s Private Company Services are experienced in working with business owners and the unique aspects of private companies.
We provide a streamlined approach for private company audits. Working closely in collaboration with you through the audit process, we are able to bring practical insights around issues such as financial effectiveness and internal controls.
With the deadline for the FASB standard change (ASC 606) for nonpublic companies approaching in January 2019, private companies should start determining their next steps now.
In part one of a three-part series on considerations private companies should take in the adoption of ASC 606, read why companies need to start thinking about implementation of the new standard and the methods of adoption available. Revenue recognition for private companies also includes a helpful matrix of the extended ASC disclosure requirements, along with the nonpublic elections.
Click here for additional information about revenue recognition.
There are times when an audit is either required or undertaken to provide a full picture of the company’s financial position and operational results.
A quality audit can facilitate your company’s access to capital and having audited financial statements readily available makes good business sense.
A quality audit for your company will help you:
The ability to adapt to change is a key element of a company's ability to compete. This is particularly true of fast-growth companies; as the size and structure of an organization rapidly changes, management will often be faced with unfamiliar challenges and opportunities. In many situations, the benefit of experience can mean the difference between success and failure.
We understand that the audit requirements are different for private companies. Using a streamlined approach to audits, our sophisticated tools drive efficiencies and create a collaborative working relationship.
Our audit strategies, advice and counsel does not end when your deadlines are met. We stay with you every step of the way. Some of our audit services include: