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Audit services for private equity firms
Tackling today’s auditing and financial reporting challenges and requirements
Private equity firms – both their funds and portfolio companies – are being impacted by the multitude of changes to the financial reporting environment. With growing complexities in general and specifically for private equity, it is critical that you have clarity on how to interpret and implement these accounting changes.
We approach our audit offerings as a service for the benefit of all of your organization's stakeholders. Our audit services are designed to ensure quality, clarity and efficiency in financial reporting and enhance and simplify your financial functions.
Audit services for private equity funds
- Fund organization and structuring
- Valuations and FAS 157/ASC 820
- Management fees, including deferrals and waivers
- Income, loss and carried interest allocations
- Distribution computations
- Internal rate of return (IRR) computations
- Financial statement preparation and disclosures
- Specialized private equity services for SBICs and BDCs
- Custody audits
Audit services for private equity portfolio companies
- Annual audit
- Global audit management
- Complete audit of “closing balance sheet” prior to acquisition
- Complete audit of “opening balance sheet” and audit procedures for the next year-end audit
- Accounting assistance including acquisition accounting, variable Interest Entities (VIE), share-based compensation arrangements (ASC 718)
- Working capital services
- Covenant negative assurance reviews
- Inventory observations
Private equity insights
To maximize shareholder value for carve-outs, private equity firms need to break free of transition services agreements as soon as possible.
RSM national enterprise leader for the family office practice at RSM US LLP, moderates a panel for the Association of Corporate Growth.
Private equity firms are increasingly helping their portfolio companies automate tasks that were once manual and expensive. Watch and learn.
Effective Jan. 1, 2021, the long-standing terminating business gain exclusion for unincorporated business tax purposes is eliminated.
Management fees paid to shareholders not made purely for services and unreasonable in amount are not deductible under section 162.
HOW CAN WE HELP YOU?
To discuss how our team can help you solve your issues and address your business concerns, contact us by phone 800.274.3978 or submit your questions, comments or proposal requests.