Case study

Rescuing A Dairy Company From A 6-Year Cycle Of Failed Audits

Challenges

Before this dairy client engaged MBS Accountancy, the company was in a vicious 6-year cycle of getting bad annual audits, despite having an inhouse CFO. When this client replaced its executive director and hired a controller, they reached out to our team to assist them with taking over CFO services.

Solutions

To remedy the problem of bad audits, we went to the source, setting up accounting policies and procedures which allowed for accurate financial statements and trustworthy reports. We also moved the client to QuickBooks Online, which lets them access financial reports from any device, and Bill.com, which allows for bill payments and approvals from any device.

Successes

Accounting System Improvements

The client can manage their accounts payables and view their accounting data from anywhere.

Ensuring Clean Audits

Accounting policies and internal controls offer a foundation for accurate records & accounts.

Trustworthy CFO Services

Our controller & CFO services guide the in-house bookkeepers and include preparing executive committee and board financials for the client.

Highlights

Before

  • 6 Years Of Bad Audits
  • Vague Reporting
  • Ineffective Accounting

After

  • Clean Audits
  • Clear Reporting
  • Efficient Accounting System Design

"This client's story is a powerful reminder that every detail matters. Even small mistakes like a misplaced decimal point or an amount that's off by pennies can have significant ramifications. That's why accuracy at every level is paramount."

Edie Daly | Accounting Manager

MBS Accountancy

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