1
That local compliance audit firm I laughed at just saved my company $40k
My CFO talked me into hiring this tiny shop out of Cleveland to review our SEC filings. I figured they'd find nothing useful. But they caught an expense classification error from Q2 that would've triggered a DOJ inquiry. Has anyone else used boutique firms for regulatory pre-checks?
3 comments
Log in to join the discussion
Log In3 Comments
karent7514d ago
DOJ doesn't usually jump" unless they see a really dumb pattern.
4
jade3214d ago
Are you sure that wasn't just a close call they exaggerated to look good? DOJ doesn't usually jump on one expense mistake unless there's a pattern.
3
simontorres11d ago
Wait, was this one of those shops that used to work at the Big 4? I had a similar scare with a tiny compliance firm - they flagged a weird revenue recognition thing that wouldve been a total nightmare with the SEC. It felt like they were trying to justify their fee at first, but then I checked their work and it was dead on.
1