Client Profile – Tier One Auto Supplier

The Need

  • Our client, Operating R&D technical centers in the United States, Japan and France, and manufacturing materials and components in 30 wholly owned or affiliated facilities worldwide needed assistance with year-one JSOX compliance
  • Assistance in development of training and the oversight of user acceptance testing for a critical ERP system upgrade in progress at several operating units
  • Direction on IT testing
  • Project scoping, risk assessment, documentation, developing remediation action plans, and an audit test strategy for IT and financial reporting processes

The Solution

  • We deployed a team including the support of a Project Management Office to directly assist in the compliance effort. The Team provided the Client’s North America and Japan based Senior Management valuable insight on how to apply critical lessons learned from the US Sarbanes-Oxley experience to make the compliance effort more efficient and effective
  • Assist in the development, training and oversight of user acceptance testing for an ERP system upgrade in progress at several operating units
  • Provide a full range of JSOX services to the North American subsidiaries including: project scope, risk assessment, process documentation, remediation action plan, and an audit test strategy for IT and financial reporting

The Results

  • Established top-down, risk-based methodologies – a focus driven by our internal controls expertise and thorough understanding of JSOX legislation
  • Quickly documented the control environment and provide up-front insight on critical remediation opportunities so that our client could immediately prioritize and firm up key IT and other internal controls over financial reporting

Client Profile – Tier-1 Automotive Supplier

The Need

  • Our client; A $5 billion Joint Venture between a major automaker and a Tier-1 supplier with the intent to either close or sell a number of manufacturing facilities was in need of experienced staff to execute the divestiture process
  • The Joint Venture firm was staffed to run the daily operations and ensure a continuous supply of quality products, but not to manage the sell-side activities that were required. Due to the temporary nature of the company, attrition had begun to occur among the Client’s salaried personnel in the targeted divestitures.
  • The Solution
  • Build teams to create stand-alone analyses units for operations that had previously been managed as an integrated part of a larger entity
  • Support the sell-side due diligence activities and the collaboration between Client and potential suitors; perform analysis of balance sheet line items of particular interest to the buyers based on the structure of each transaction
  • Prepared 5-year plant forecasts for potential buyers
  • Develop a shared services plan for post-sale operations recommend process improvements

The Results

  • Seamless integration, fast ramp-up and high quality work performed by our teams gave our client the confidence to let our teams lead them through the due diligence process