Our reputation stands on providing insight with integrity and maintaining our independence and objectivity. With 70 years of experience, Weaver brings in-depth regulatory experience and proven best practices that ensure compliance for public companies and help company executives to make informed decisions toward achieving their business goals.
Weaver’s public company practice group provides independent audit, tax and advisory services to public companies of all sizes from smaller reporting companies to large accelerated filers across a broad spectrum of industries. Weaver also provides a full suite of services for companies contemplating or preparing to go public, or which are otherwise looking to improve the quality and sophistication of their reporting and governance functions. Regardless of the nature or size of your operations and transactions, our knowledgeable, skilled and dedicated team can play a significant role in helping you fulfill your business plan.
We understand that companies do not all fit into one approach, which is why we tailor the service, team and methodology for every engagement. First, we get to know your company and its particular needs based on the environment in which you currently operate and where you might be in the future. Our professionals provide insight to ensure that you are adhering to the complex regulations and requirements placed upon public companies of all sizes. We are able to scale our approach based on the registration type and your specific needs.
Weaver has the strengths and capabilities to serve organizations ranging from pre-IPO entities who require an initial audit under PCAOB standards or assistance navigating the complexities process of a public offering and SEC reporting, all the way to well-established SEC registrants with global footprints.
Public Company Services
The public company clients we serve operate in a wide variety of industries, with a broad range of risks, complexity and needs. Our coverage and experience include operating entities, holding and investment companies, special purpose acquisition companies (SPACs), real estate investment trusts (REITs), royalty trusts and employee benefit plans.
We have the skills and resources to scale in-step with our clients as they grow, from pre-IPO companies as they navigate the registration process to Emerging Growth Companies (EGCs) under the JOBS Act, Smaller Reporting Companies, Non-accelerated Filers, and finally Accelerated and Large Accelerated Filers.
Our Public Company Services include:
- Audits of financial statements in accordance with the standards of the PCAOB
- Integrated audits where an entity requires an opinion on its internal control over financial reporting (ICFR)
- Audits of 401(k) and other employee benefit plans
- Audits and related services for financial statements and supplementary information for 1933 Act equity and debt registration statements as required by Regulation S-X and S-K, including those filed on Forms S-1, S-3, S-4, S-8 and S-11
- Audit and review services for periodic reporting obligations of entities with public equity or debt pursuant to the 1934 Act including financial statements filed on Forms 10-Q, 10-K and 11-K
- Services for investment companies registering securities or complying with periodic filing requirements under the Investment Company Act of 1940
- Service Organization Control (SOC) 1 and 2 reporting
- Audits required by Rule S-X 3-05 for the financial statements of an acquired business
- Other attest engagements, including agreed-upon procedures and comfort letters
- Compliance: Preparation and/or review of annual and other filing requirements required by various taxing authorities, including U.S. federal, state and local tax agencies, as well as international compliance
- Preparation and/or review of ASC 740 income tax provisions for financial reporting purposes, and assistance in preparing related disclosures and notes to the financial statements
- Tax planning and advisory services, including organizational restructuring and maximizing tax benefits of existing tax structure
- Research and experimentation / R&D tax credit studies
- Extensive state and local tax practice, including sales & use taxes
- Transfer pricing studies
Weaver also provides a wide variety of advisory services through our risk advisory services (business processes) and IT advisory practices:
- Becoming publicly fit
- Consulting services to assist Boards and Audit Committees in establishing roles and approaches to fulfilling their oversight responsibilities
- Sarbanes-Oxley (SOX) 404 Compliance – Assist management in their assessment of internal controls, including assistance in testing the design and operating effectiveness of the Company’s controls
- Remediation of previously identified control deficiencies
- Technical accounting matters – Weaver can assist in evaluating transactions and other matters for appropriate accounting treatment and assist management in documenting determined positions. We can also assist your company in adopting new accounting pronouncements
- Interpretation and implementation of regulations governing various filing forms (Regulations S-X, S-K, and S-B, Staff Accounting Bulletins, Codification of Financial Reporting Policies, and industry guides)
- Researching and resolving issues through communications with the SEC's Division of Corporation Finance (including the Office of the Chief Accountant)
- Identification and communication of the SEC's key areas of focus in recent filings and emerging SEC developments
- Enhancing or supplementing your company’s current resources with CFO and CIO Advisory services
- Other advisory and consulting services, including:
- Selection assessments for ERP and BI applications
- Budgeting and benchmarking
- Corporate restructuring and recapitalization
At Weaver, our experienced professionals work with companies like yours every day and appreciate what you have built. We understand the entrepreneurial point of view and we keep that view in mind as we help companies become “publicly fit.”
What do we mean by Publicly Fit companies?
Our definition reaches well beyond those companies contemplating a public offering. In today’s business environment, many private companies voluntarily choose to enhance their business operations and their compliance standards – to become Publicly Fit – because raising their business-operations bar increases opportunities and enhances overall enterprise value.
The road to becoming Publicly Fit involves several incremental steps, including:
- Enhancing financial reporting capabilities
- Implementing a risk assessment process
- Developing corporate governance practices
- Enhancing and strengthening internal controls and information technology systems
- Creating procedures compliant with U.S. Securities and Exchange Commission (SEC) reporting rules
Having the right technical capacity can be a challenge along the path; Weaver provides augmentation and consulting services to companies looking to become public. These services range from audit readiness to financial reporting and include:
- Assisting the company in evaluating complex accounting and tax issues in difficult areas such as stock-based compensation, derivative instruments, reverse mergers, acquisitions, and other complex equity and debt transactions
- Preparing certain necessary audit-required documentation and train the company's employees how to maintain and update these files
- Evaluating documentation prepared by the company, and make the necessary enhancements and adjustments so that presentations are in accordance with auditors' standards
- Assisting with the preparation of the quarterly and annual SEC financial reporting filings
- Assisting in critical finance and accounting projects, implementations and strategic initiatives, such as a mergers and acquisitions analysis, both on the buy and sell side so they are strategically structured to achieve each party's goals while saving on transaction costs and beating the timelines
- Suggesting ways for accounting-related processes to run more effectively while maintaining efficiency in the company
- Evaluating and identifying appropriate internal control, including segregation of duties over financial-related processes to meet Sarbanes-Oxley 404, or SOX, compliance
- Assisting with organization of files for recordkeeping requirements (e.g., electronic files organized for easier access, scanning of documents, etc.)
Update: Final Rule Issued March 12, 2020
On March 12, 2020, the SEC adopted as final the 2019 proposed amendments designed…