Troubled Companies

Troubled Companies

During times of gravely financial difficulties, business owners must make important business decisions. But when a company’s accounting records are in shambles, the ability to make decisions is compromised. In situations where allegations of fraud are present, advice from experienced accountants is critical.

QCG can assists you get back on track. We put puzzle pieces together to bring a clearer picture of your financial situation. We also become your resource when recruitment of accounting personnel is nearly impossible.

We provide the following services for troubled companies:

Interim Financial Management

Sometimes, the unexpected happens. When your CFO, controller, or accounting manager unexpectedly leaves your organization, we will assist you in handling the day-to-day financial operations during the transitional phase . We will help you navigate turbulent waters and bring order back into your business. Our services include:

Contract staffing
Overlap coverage of key positions such as CFO or controller
Budgeting
Forecasting
Cost analysis
Financial statement preparation
Internal controls
Risk management
Training and education for both current or prospective accounting staff

Cash Management and Expense Reduction

Employing cash management techniques can significantly improve the time between making a sale and collecting payment and effectively managing cash disbursements. Clients come to us to maximize available cash. We provide the following:

Forecasting and budgeting cash flows
Determining ways to accelerate cash collections
Determining how to time disbursements
Analyzing expenditures for waste and inefficiencies
Reviewing banking relationships

Internal Control Assessments and Design Improvements

Clients call upon us to establish, monitor, and analyze the internal control structure of the company. We understand that every company is different, and therefore should be tailored to the size and complexity of the company's business. We will work with you to formulate and adopt internal controls to improve operations and facilitate efficient and timely reporting.

Fraud Prevention, Detection, and Investigation

Internal control is one of the most important deterrent of fraud. We help our clients establish, monitor, and analyze the internal control structure of the company, so they can prevent or timely detect misappropriation of assets and other irregularities.

However, during the unfortunate times when management has suspicions of or has known information about fraud, we assist in the investigation process as well as work with the company's legal counsel.

Reconstruction of Accounting Records

Inadequate financial records hinder management's ability to decipher the company's true financial situation. We help management reconstruct accounting records to give management a clearer picture.