Prepare to sell or exit your business by engaging a CPA firm for a financial statement audit. There are many benefits to having a financial statement audit for your business and a potential buyer.
A CPA can:
- Ensure that your financial statements correctly represent your financial position and operations.
- Identify opportunities to strengthen your internal control procedures, so your financial statements present well to buyers.
- Evaluate your accounting policies.
- Assess the reasonableness of accounting estimates made by management
- Document items that buyers will ask for, such as accounting procedures, the make-up of material balance sheet accounts, commitments, contingencies, and transactions with related parties.
- Help identify and change issues before they arise during a buyer’s due diligence process.
- Consult with executives, so the company is in a stronger position to manage the due diligence phase of the business transaction.
Potential buyers want to have confidence in the financial statements. Most buyers are looking for not just the current year audit, but also rely on historical financial statements for up to the previous five years. Having your information in order helps make the process smoother for a buyer.
How DHJJ Can Help
DHJJ is well versed in all aspects of helping owners prepare their businesses for sale or exit. If you would like an independent and timely audit of your financial statements to strengthen the sale or exit of your business, call our audit team at 630-420-1360.
