New Horizons Supported Services
New Horizons partnered with ACS to address incomplete records, prepare for a critical audit, and position the organization for long-term growth.
Financial records reconstructed
with 100% accuracy
Financial audit
successfully completed
Modern accounting
processes implemented
Overview
When New Horizons faced significant financial management challenges due to the departure of their accountant, they turned to ACS Business and Accounting Solutions for expert assistance. With incomplete accounting records from the previous year and an impending financial audit, the client required immediate and comprehensive support to restore their financial integrity and establish robust accounting practices.
The Challenge:
New Horizons’ financial records for the previous year were incomplete, leaving their data fragmented and unreliable. With an impending financial audit on the horizon, they urgently required accurate and complete financial statements, but their incomplete records left them unprepared. Additionally, their outdated accounting processes were inefficient and lacked the infrastructure needed to support both organizational growth and compliance requirements.
Our Solution:
The ACS team diligently reconstructed the client’s financial records by entering missing transactions, reconciling bank accounts, and generating accurate financial statements to ensure they were fully prepared for the financial audit. We also took charge of the audit process, coordinating with auditors, providing necessary documentation, and addressing inquiries to facilitate a smooth and successful outcome.
Recognizing the need for modernization, we developed new accounting processes tailored to their operations and selected advanced accounting software to enhance efficiency and accuracy. As their outsourced Chief Financial Officer, ACS continues to provide strategic financial oversight, ensure compliance, and support informed decision-making to drive the organization’s ongoing success.
The Results:
- Successful Audit Completion: With ACS's intervention, the client successfully completed the financial audit, reinforcing stakeholder confidence and compliance with regulatory requirements.
- Strategic Financial Partnership: The ongoing relationship with ACS as an outsourced CFO ensures continuous financial expertise, strategic planning, and adaptability to evolving business challenges.
- Enhanced Financial Processes: The implementation of new accounting processes and software has streamlined operations, reduced errors, and provided real-time financial insights, positioning the client for sustainable growth.