“We Just Need the CPA to Sign This”
I was supposed to be on “Hold” during a conference call. I heard one lending officer state, “We just need the CPA to sign this” and the other agreed.
What is ready to be signed?
According to where we are right now, the methods, and approach to be used. We were not close to certifying anything. We were more in the verification process.
According to where we are right now, the methods, and approach to be used. We were not close to certifying anything. We were more in the verification process.
A short silence followed by a lot of explaining why we did not need to verify for accuracy, have a cut-off date to assist with establishing existence of revenue; and qualifying profitability.
Rush work is a red flag in our industry.
I stated, “Look, we are going to have an operation. The patient has cancer.” That got their attention.
Would you rather see a proctologist or an oncologist?
Thank you - I have heard all the reasons “You do not need a CPA.” Yet, here we are...
“Just sign this. It is not much revenue. It's not like they are publicly traded.”
The buyer of your company is now like your older cousin that started the fire and then became the hero fireman - a bail out fireman.
What is this talk about surgery? Fires? Attest? Sign this? Stress?
When you are in need of a Professional designated to attest to financials for buy/sales, selling, appraisals. The scope requires an Accountant,s opinion and certification/signature.
The idea is to allow the professional to perform the task - valuing your business, plugging the holes in the cash flow, whatever it may be - yes it will cost.
The cost of going to, “Value chop shop” down the street. That could cost hundreds of thousands of dollars, depending. Let’s re-consider what we all believe to be a “Deal”, in the long run.
Discuss Your Matter
Financial disputes often involve incomplete records, hidden assets, ownership questions, or source of funds issues that require deeper analysis.
If you’re an attorney or client facing a complex financial matter, Dawn Murrill, CPA, CFF can help provide clarity and defensible financial analysis.
