Liability Management > Financial Reporting

Many of our clients are finding that, as a result of Sarbanes-Oxley regulations, financial reporting and internal auditing functions for complex contingent liabilities are now significantly more complicated and carry far more risk. In addition, company auditors now often require independent analysis and verification for setting of accruals and internal reserves for past, future, and Incurred But Not Reported (IBNR) liabilities – analyses which the auditors are precluded from doing under the Sarbanes regulations.

LLM has worked with several large corporate clients to assist them in performing these analyses and/or assisting with attest procedures for environmental, asbestos, product liability, and tort and legal liabilities in a variety of industries. As with all our work, we develop a straightforward approach based on our experience but tailored to each client’s individual needs.

Our approach allows us to quickly and cost-effectively address these issues and minimize the impact of these new requirements on our clients.  In addition, our analyses are flexible enough to be quickly updated for future year attest procedures or for other internal strategic planning purposes, such as financial reserving, cash management, internal audit, risk management, or other decision-making purposes.

Contact us about your specific case needs: (440) 498-0171 info@llmconsult.com