Boxley Group

Optimizing Talent Value Chains and Maximizing Results

Insights

Regulatory Compliance – SEC Reporting through Process Improvement

Client: Public Construction Company

The Challenge:

This Boxley Group client was experiencing high workforce turnover, lacked standardized processes across divisions, and was averaging a 15 day close. The client had previously filed its’ 10-K and 1st Quarter 10-Q late, inviting class action lawsuits.

SUCCESSFUL OUTCOME

  • Calmed and stabilized accounting function by standardizing processes and maximizing use of the existing software
  • Improved closing calendar: accomplished 5 day close
  • Early filed 2nd Quarter 10-Q
  • Earnings Per Share increased due to the changes to the state interest expense
  • Smoothly transitioned to permanent internal VP Accounting
  • Variance analysis was sufficiently detailed to preclude another set of questions from auditors
Case Study 2

HOW WE DID IT

  • Provided experienced CFO to act as Interim VP of Accounting
  • Implemented a coordinated cross-functional closing calendar
  • Documented and improved processes
  • Updated process narratives for SOX controls
  • Provided accounting research and technical memos to reduce and properly state interest expense which increased Earnings Per Share
  • Coordinated and updated preparation approach

BOXLEY GROUP COMPETENCIES

Finance and Accounting Advisory

Process Optimization

Information Management

Organizational Change Management

Project Management