Accounting and auditing
Ernst & Young provides audit assurance reports for public and private companies on the fairness with which the audited financial statements present, in all material respects, financial position, results of operations, and cash flows in conformity with the applicable financial reporting framework (ie- United States generally accepted accounting principles, International Financial Reporting Standards, etc.).
Audited financial statements are typically used to satisfy regulatory compliance requirements and capital transaction completion.
For more information, contact:
Keith Burns, Managing Partner, Milwaukee office
Email: keith.burns@ey.com
Phone: 414-223-7190 Top of Page .....
Buy or Sell a Business
We provide integrated financial and other due diligence services to acquirers or investors to assist in assessing the business under review. Matters addressed normally include:
- Factors affecting the strategic rationale for the transaction
- Factors affecting the historical and current performance of the business
- Whether forecast assumptions made are supported by relevant factual evidence
- Challenging the owner’s principal representations about the business
- Protections that may be considered through the deal structure
Our integrated approach may be offered in conjunction with the following additional services:
- Transaction Support (Operational and Commercial due diligence)
- Transaction Integration (Integration/ Separation Strategy, Transition Planning and Execution)
- Transaction Tax (Tax due diligence and advice on the taxation structure of the transaction)
- Technology and Security Risk Services (IT and security risk issues)
- Human Capital (Review of employee rewards)
- Transaction Real Estate (Property-related risk issues and analysis)
- Fraud Investigations & Dispute Services (Pre-completion advice on accounting aspects of the sale and purchase agreement and review of completion accounts)
- Valuation services related to business combination accounting or tax basis
For more information, contact:
Keith Burns, Managing Partner, Milwaukee office
Email: keith.burns@ey.com
Phone: 414-223-7190 Top of Page .....
Cash Flow & Projections
Working Capital
Work with clients to identify where current business practices could be improved and the size of potential, to implement processes that can help cash flow be converted, and recommend frameworks to assist clients to sustain this.
We have a 3-phase straight-forward, hands-on approach:
- Phase 1: Diagnose – a combination of pilot site visits, external/internal benchmarking, and metric setting
- Phase 2: Deliver – site review roll-out; training/workshops, tools and templates, metrics and monitoring
- Phase 3: Sustain – central monitoring overlay; resource definition and allocation to establish a long term culture, and assist in integration with reporting and forecasting systems.
Cash Flow Change Programs
Work with clients to identify where current cash forecasting practices could be improved, to implement processes to improve cash flow forecasting, and to implement frameworks that help sustain this.
We have a 3-phase straight-forward, hands-on approach:
- Phase 1: Diagnose – a combination of process reviews, understanding the current system and best practice identification
- Phase 2: Deliver – modeling, training/ workshops, process manual, site support, metrics and monitoring
- Phase 3: Sustain – central monitoring overlay; resource definition and allocation to establish long term culture and assist in integration with reporting and management systems.
For more information, contact:
Keith Burns, Managing Partner, Milwaukee office
Email: keith.burns@ey.com
Phone: 414-223-7190 Top of Page .....
Financing – Equity
We provide reports and letters to issuers and their sponsors in connection with equity or debt offerings and other capital markets transactions, in accordance with the requirements of the relevant capital market and applicable law. The reports and letters are used either for publication in the investment circular or to provide private comfort to the issuer or sponsor.
Reports and letters for publication may include the reporting accountant’s report, pro forma financial information report, profit forecast opinion report and the consent letter. This is an integrated service with audit and, where relevant, other advisory services, and transaction tax.
Reports and letters for private comfort may include the long-form due diligence report, working capital report, a profit forecast report and other non-attest due-diligence reports, comfort letters covering financial reporting procedures, significant change, extraction of financial information and capitalization and indebtedness.
IPO readiness services performed in conjunction with our Capital Markets group.
For more information, contact:
Keith Burns, Managing Partner, Milwaukee office
Email: keith.burns@ey.com
Phone: 414-223-7190 Top of Page .....
Taxes
Income Tax Compliance provides preparation or review of all types of business income tax returns, including related data collection procedures, calculation and analysis of book to tax adjustments, and the calculation of estimated tax payments and related forms preparation. When requested, the offering includes compliance related support activities, such as drafting proposed responses to taxing jurisdiction inquiries and notices, as well as tax examination support related to how tax returns were prepared.
Business Tax Advisory assists clients with planning, including revenue recognition for tax purposes, claiming deductions, reorganizations, and permanent establishment issues and advisory services for complex business transactions such as involving joint ventures and partnerships. Also includes tax controversy and dispute resolution to assist companies undergoing tax examination by tax authorities or in the courts and tax audit risk assessment services with respect to potential challenges by tax authorities.
We also help companies understand the level of risk associated with transactions and compute potential interest and penalties associated with tax authorities audit and assessment adjustments, as well as potential settlements. This service also includes providing tax opinions, which involve tax analysis of a transaction, advising on the desirability of obtaining tax jurisdiction rulings and assisting a client in securing a private letter ruling from tax authorities in order to obtain assurance and confirmation of the desired tax consequences of a proposed transaction.
For more information, contact:
Federal tax Terrence Hendricks, Partner 414-223-7032 terrence.hendricks@ey.com
State and Local tax Ken Meng, Partner 414-223-7149 ken.meng@ey.com
International tax Sean Rutter, Partner 414-223-7189 sean.rutter@ey.com Top of Page .....
Tax Credits
Business Incentives Advisory assists companies in their relocations or expansion by identifying, helping to negotiate, and secure tax, financial, and other business incentives with state and local jurisdictions.
Employer Credits and Incentives helps companies identify untapped federal, state, and local employment incentive programs to offset labor costs, and provides administrative support for qualifying programs such as the federal Work Opportunity Tax Credit (WOTC) program.
Export Tax Incentives performs computations and advises exporters on transaction-by-transaction and product-line analysis for utilization of export tax incentives (ETI).
For more information, contact:
Ken Meng, Partner 414-223-7149 ken.meng@ey.com Top of Page .....
International Markets
Assist clients with quantitative data analysis for foreign markets (other than policy/regulatory economics or sampling), including forecasting industry specific trends based on economic and statistical relationships and modeling what-if scenarios for alternative economic projections. This service does not include any modeling of individual company financial information. This service also includes working with large databases and providing statistical tabulations.
For more information, contact:
Keith Burns, Managing Partner, Milwaukee office
Email: keith.burns@ey.com
Phone: 414-223-7190 Top of Page .....
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