Case Study Fourteen: Internal Controls - Division of a Large Public Company, & Carve Out Transaction

Internal Control / Transaction Support Leadership

Details

A large public company helicopter manufacturing division with limited accounting and compliance personnel was required by its corporate headquarters to document procedures for business processes and to identify financial reporting risks and controls in those processes. At the same time, management required accounting assistance in carving out a line of business for a sale transaction.

Engaged for expertise and leadership with review and design effectiveness of controls for various business cycles at the location. Also engaged for creating schedules and detailed accounting records to be included in a divestiture and business carve-out transaction.

• Identified risks linked to key controls for key process areas
• Provided management with documentation of procedures and flowcharts in key business process areas.
• Management was able to meet certain deadlines established at corporate headquarters
• Provided required planning, schedules, and allocations allowing management to carve out operations specific to a line of business offered for sale
• Utilizing these results, management was able to negotiate in a timely manner with various companies interested in purchasing the operations