Accurate Audit Ensures an A+ for Newly Acquired School

Our client was acquired by a very well recognized and respected international English language school. However, at the time of acquisition, the accounting for certain assets and liabilities were not compliant with either Canadian or International standards.

Our Accounting and Audit Experts recognized the presentation deficiencies and worked with the client to ensure the amounts receivable from the students were correctly recorded and the revenue was appropriately recognized. We also worked to review past business acquisitions to accurately reflect goodwill.

The resulting financial statements were prepared with accounting policies that aligned with the parent company and presented alongside our unqualified audit report. With accurate financial statements, management could now reliably evaluate and benchmark the performance of the Canadian school with their other schools around the world.