GAAP and Assurance Service in USA
Warren Buffet said, “Accounting is the language of business”. We say, “If Accounting is the language of business, then accounting standards are the grammar rules of it.” About Assurance, consider it as a financial health certificate of your business. It is asked for wherever you go for whatever purpose.
I have heard many of my clients saying that 2020 is the worst year for their business due to COVID crisis. Now, I am an optimistic yet practical person, 2020 is the worst year, but 2021 and 2022 can be the best year for business. How? 👇🏼
Role of Assurance in Fundraising and M&A
Many businesses will have the opportunity to merge with incumbent organisations to ensure the survival of their organisation. Investors will be looking for companies to acquire for the expansion giving small and mid-scale business owners a chance for a fresh start. Some businesses will try to raise money from the market by means of IPO, FPO, Equity restructuring, etc.
But, there is one catch to it. For sure, investments will be flowing in but due to thousands of options available to investors, they will prefer companies with reliable financial records to opt for the least risky options at an optimum price. Same is true for IPOs/FPOs, where public sentiments are largely affected by the authenticity of the accounting and financial records furnished by the company.
Assurance in Post-COVID USA
For any kind of business expansion and diversification, Assurance of accounting and financial records is a prerequisite and indispensable. We have hundreds of stories where corporations have lost investment worth millions because they were unable to provide a balanced scorecard to the investors as per the requirements of GAAP standards.
Keeping aside the investment and business development perspective, even for ensuring robust internal operations (both financial and non-financial), executives demand data that is genuine in real-time and not altering the data hindsight for the financial prognosis of the company and manoeuvring the business operations accordingly.
Activities Covered by Assurance
Assurance service requires vetting all the accounting records of the organisation and making intelligent conclusions for optimum financial decisions. Meaning, converting Accounting data into useful information for business is what a competent Certified Public Accountant delivers. Assurance service enables your business to convey the right message of transparency, firm practices, well-governed, ethical and relevant to investors, public and analysts.
We take immense pride in saying that we have a rich 10+ years of experience in providing Assurance service to all the organisations irrespective of their annual revenue for all the purpose which helps them in various ways like reduce compliances’ cost, satiating contractual obligations, marketplace concerns through flexible, imbibe trust in stakeholders by transparency and proactively tackling risks to mitigate plausible loss.
We have the fortune to serve some of the top-notch Indian entrepreneurs who paved their way to glorious success in the USA, to mention a few Paperboat Apps, Numiv Research, VSV Wins Group, etc. We have been entrusted with work for more than 2,000 companies and we have never disappointed a single one of them.
We take care of Assurance, along with providing a range of other services to take full accountability as the virtual CFO to your business.
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