Eight possible benefits of an accounting adviser

Here are some benefits and questions an accounting adviser can help address

Here, we discuss eight out of the many valuable benefits an effective accounting adviser can bring to your accounting and reporting function. You may also consider utilizing a cosource model. Unlike outsourcing, cosourcing involves collaborative teaming between internal resources and an external accounting adviser, giving you access to experienced professionals and freeing in-house experts to prioritize strategic initiatives.
 

1. An experienced perspective: Are you facing challenges such as talent shortages, increasing responsibilities, and the need for insights to help inform your accounting conclusions in your finance team? How can accounting advisers with deep and diverse experience across industries help you to address these issues?
2. Lead an open dialogue: Are you struggling with auditor engagement? How can having an open dialogue with an accounting adviser about transaction structures and their accounting implications help you to alleviate this issue?
3. Translate the nuances of accounting guidance: Struggling to explain complex accounting guidance to non-finance leaders and preparing for Board or Audit Committee presentations? What are the benefits of having an accounting adviser assist with these tasks?
4. Advocate for a chosen approach: Facing difficulties advocating for your approach in discussions with your independent auditor, especially on judgmental accounting issues where differing views might arise? Find out the benefits of having an accounting adviser assist in this scenario.
5. Examine alternative angles: What are the potential advantages of an accounting adviser's insight into diverse accounting conclusions, particularly when a company's resources limit exploration of optimal strategies?
6. Address thorny issues early: Dealing with last-minute complications due to late identification and resolution of complex accounting issues? How can accounting advisers help you to identify complex problems in advance?
7. Improve internal controls: Struggling with improving internal controls, assessing the control environment, and controlling complex transactions? How can an accounting adviser help you to address these issues?
8. Improve audit readiness: Are you struggling with the demands of the financial statement and internal controls audit while maintaining your day job? Wondering how an accounting adviser with an audit background can help address these issues? Learn about the potential advantages they provide.

Energize your accounting by considering a cosourcing model

Utilizing an accounting adviser to navigate complexities can enhance the quality of your accounting approach, and work as an advantage to your organization. These eight possible benefits of an accounting adviser can cumulatively result in a stronger work product. This can potentially reduce auditor interaction time and audit costs, while easing the rise in base audit fees over the long run. 

By layering in a cosourcing model, you can benefit from the collaboration that arises from a teaming environment. Cosourcing teams provide strategic insights that can help clients work through critical challenges and seize opportunities.

Start a cosourcing conversation today

Looking for an accounting adviser with deep industry experience who understands the accounting and reporting difficulties you’re experiencing, as well as emerging issues facing the marketplace? Our teams have auditor backgrounds, so they bring a broad knowledge of complex analyses and documentation to your engagement. We can provide consistent assistance on a regular and predetermined basis. Best of all, services can be tailored to your unique needs, allowing your in-house team to concentrate on more strategic initiatives.