GovCon Thought Leadership: Financial Statement Audits: Efficiency and Value for Government Contractors?

You worked hard to build your business, took calculated risks and the right ones paid off. In fact, you’ve done so well that you’re ready to increase your line of credit so that you can maximize net working capital. To do this, your bank has informed you that audited financial statements will now be a requirement.

In our new thought leadership piece, GovCon expert Edward Ryan provides insight on avoiding common mistakes, along with tips on successful preparation of accurate, complete, and useful financial statements.

You will learn how to:

  • Identify operational and reporting challenges that affect preparation of timely and reliable financial reporting packages, including annual financial statements
  • Use an audit or review as an opportunity to strengthen business processes and improve both internal and external financial reporting
  • Improve management’s visibility into operations
  • Provide insight to analyze trends that help identify potential areas for improvement (accounts receivable collectability, etc.)
  • Increase accountability related to project performance and business development
  • Provide guidance on design and implementation of the right internal controls to limit bureaucracy and help ensure the reliability of financial reporting and processes

While an audit can be a painful process for the unexperienced or unprepared, with the proper knowledge and preparation, a financial statement audit can be used as an opportunity to strengthen reporting capabilities.

Click here to download your PDF copy.

For more information on government contracting, please contact Edward Ryan, CPA at 703.652.1124 or please feel free to leave us a message below.

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Material discussed in this article is meant to provide general information and should not be acted on without professional advice tailored to your firm’s individual needs.



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