I love the diversity of the personnel, each one has a unique skill set, and they all care about what’s important…”The Client!!
Client: SaaS Start Up in Emerging Technologies
How it Started
A private equity firm acquired the Ohio-based SaaS startup and they knew it was time to prepare for an audit. As a young company that had never been audited, they needed not just an auditor, but a partner to ensure they were ready for the challenges of preparing to be audited. Finding a regional firm that provides both those services can be a challenge but, fortunately, since the company’s Controller was already familiar with Schneider Downs, she skipped a few steps in what could have been an arduous search. She set up a meeting with our Accounting Advisory and audit practices to talk about the audit and audit readiness process. We also explained how we could help sort out the complexities associated with revenue recognition and other accounting challenges we consistently see in the SaaS space. With a game plan in place, we were ready to begin our partnership.
Laying the Groundwork
Our Accounting Advisory team stepped in first. Since the client had limited internal resources, our first task was to help them structure their audit readiness process. We made sure everything was in order, providing guidance on the acquisition opening balance sheet, helping them understand customer contracts from a revenue recognition perspective, aiding with purchase price allocation and ensuring that their technology costs were capitalized properly. Our job was educational as well as technical. We were on the ground with them, helping management draft memos and making ourselves available to answer any questions they had. And, because our Accounting Advisory team was constantly consulting with our audit team, we were able to avoid the headaches and pitfalls of communicating with an external auditor. Before the audit even began, we knew there would be no surprises.
How it's Going
Now that the client’s books and records are in good order, the audit team is ready to take over. And, as we gear up for their audit, our tax team has appeared on the scene as well. After collaborating with us on the audit readiness process, the CFO realized we had the expertise to help them with their tax compliance, and he asked us to expand our relationship. It’s just one of the advantages of working with a partner with capabilities in so many areas.
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Contact an Audit & Tax Advisor Today
I love the diversity of the personnel, each one has a unique skill set, and they all care about what’s important…”The Client!!
Brett Cubellis is the best! He always follows up and is prompt in his response.
Having Jim Yard as resource. He is easy to reach and reactive to any request. Appreciate his partner with me.
Honesty, Integrity, Professional
Down to earth.
Knowledgeable people
Good people.
All employees are professional.
Great relationship with our primary POC – Jim Sayer. Excellent knowledge base and highly responsive to our business needs. SD has added real value to our taxation reporting and strategy.
Professionalism and pragmatic
Jim Yard, Jessica Miller and team are first class in everything they do. They are a wealth of experience and knowledge and share that expertise with our Management team and Board. I have worked with numerous firms in my 25+ career and Schneider Downs is the best when it comes to communication, transparency and high-quality work product. We could not be happier with our relationship, and they are a source of strength in our overall risk management framework.
Schneider Downs’ engagement teams are hand-selected by our shareholders based on skill sets and experience and are available around the clock for consultation. Each attestation engagement is subject to our comprehensive quality control and risk management system, providing an independent review of audit opinions, related financial statements and significant underlying working papers, to ensure that the highest levels of professional standards are met.
To learn more, visit our dedicated Audit and Assurance page.
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Schneider Downs is a Top 60 independent Certified Public Accounting (CPA) firm providing accounting, tax, audit and business advisory services to public and private companies, not-for-profit organizations and global companies. We also offer Internal Audit; Technology Consulting; Software Solutions; Personal Financial Services; Retirement Plan Solutions and Corporate Finance Services. Schneider Downs is the 13th largest accounting firm in the Mid-Atlantic region and serves individuals and companies in Pennsylvania (PA), Ohio (OH), West Virginia (WV), New York (NY), Maryland (MD), and additional states in the United States with offices in Pittsburgh, PA, Columbus, OH, and McLean, VA.
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