During the downturn in the energy markets, a global energy service provider experienced a Chapter 11 bankruptcy filing, the loss of key accounting personnel and a delayed monthly financial close that resulted in the inability to meet filing deadlines for monthly financials for lenders as well as quarterly financials for the SEC.
A&M assisted the client in shoring up its accounting staff and oversaw the identification, hiring, onboarding and deployment of permanent and part time resources. A&M helped the CFO identify and remove the roadblocks preventing timely financial close in order to accelerate the filing of delinquent quarterly financials with the SEC. In this role, they managed the close process, prepared the quarterly filings for management review and coordinated and resolved questions from the external auditors. As a result of the overall project the client now has financial close checklists, accounting policies and resources and tools to better manage its reporting responsibilities.