KNAV P.A. is a full-service accounting firm providing unparalleled services ranging from set-up, accounting advisory, assurance, taxation, valuation and business advisory. KNAV has been catering to distinct requirements of multinational organizations as they expand and establish in new geographies. KNAV with its qualified team of pioneers in US GAAP, IFRS, Canadian GAAP and Ind AS distinguishes itself through its client-centric focus and partner-led solutions.

USA, being the world’s largest economy, confers an ocean of opportunities for amplifying the growth of businesses by offering top-notch infrastructure and a large consumer base. KNAV’s with its expertise and experience provides support at each step for organizations to meet the regulatory requirements and accounting frameworks enabling businesses to flourish.

WHAT WE DO

FINANCIAL STATEMENTS – AUDITS, REVIEWS AND COMPILATIONS

  • Audits under US GAAS for financial statements reported under US GAAP, IFRS or Indian Accounting Standards
  • Audits under PCAOB standards for US public companies
  • Audits under international auditing standards
  • Audits under Indian auditing standards
  • Audits under guidance note of ICAI and per Reserve Bank of India guidelines for Banks (for Indian banks having branches in the US)
  • Review, compilation and agreed upon procedures under Statements on Standards for Accounting and Review Services issued by the AICPA
  • Limited reviews under SRE 2400 and SRE 2410 as issued by Institute of Chartered Accountants of India for US subsidiaries of Indian public listed companies
  • Audits of not-for-profit organizations per State statutes

EMPLOYEE BENEFIT PLAN AUDITS

  • Limited scope audits of 401k plans, defined benefit pension plans, defined contribution plans and profit-sharing plans

SOC AUDITS

  • SOC1, SOC2 and SOC3 audits for third-party service providers, while also conducting internal control assessments, attestations, penetration tests, and firewall assessments

AUDIT SUPPORT SERVICES

  • Staffing support to strengthen your accounting team to complete your audits in a timely and cost effective manner

RISK ADVISORY

  • Assessment of internal financial controls
  • Forensic & investigative services

GAAP CONVERSION AND NEW STANDARD IMPLEMENTATION

  • Assistance in preparation of financial statement for first time adoption of IFRS/US GAAP/ Canadian GAAP/Ind AS
  • Accounting opinions on the application of IFRS, US GAAP, Ind AS
  • Technical accounting memos for audit documentation
  • New standard implementation services

COMPLEX ACCOUNTING ASSISTANCE

  • Preparation of periodic SEC filing (10-K/10-Q)
  • Preparation and/or assistance in consolidation of group financials
  • Designing uniform chart of accounts for group and design of accounting procedures (e.g., for elimination of intra group transaction or deferred tax creation) for group

CASH FLOW SERVICES

  • Automation of cashflow preparation
  • Presentation of year-end FX differences, hedging transactions and changes in equity
  • Treatment of business acquisitions and disposals within the group, mergers and acquisitions
  • Treatment of differences arising on conversion to reporting currency

DEAL AND LISTING SUPPORT

  • Preparation of financials to be included in the offer document
  • Preparation of consolidated/combined/pro-forma/ carve out financial statements
  • Listing support in multiple countries including US, Canada and India
  • Post deal accounting support including identifying and deciding appropriate accounting for intangible assets acquired

FEDERAL AND STATE INCOME TAX COMPLIANCE

  • Federal, state and local tax returns
  • IRS and state representations

TAX ADVISORY SERVICES

  • Domestic and international tax advice
  • Earnings and Profits, R&D credit, Sales and use tax nexus and taxability and Multi-state income nexus studies
  • US tax reform impact studies

TAX ACCOUNTING SERVICES

  • Tax provisioning in accordance with ASC 740 (Accounting for Income Taxes) and ASC 740-10 (Accounting for Uncertainty in Income Taxes), IFRS AS 12: Income Taxes and Indian GAAP AS 22 Accounting for Taxes on Income/Ind-AS 12- Income Taxes
  • Includes current and deferred tax calculations, identifying uncertain tax positions, preparation of tax footnotes and disclosures, and communicating with external auditors

TRANSFER PRICING

  • Transfer pricing planning studies
  • Transfer pricing documentation in accordance with US regulations
  • Audit support

MERGERS AND ACQUISITIONS

  • Buy-side and Sell-side tax due diligence support
  • Advice on various post-acquisition aspects like optimal structuring, carryover of tax attributes, optimal acquisition vehicle and funding, etc

FINANCIAL REPORTING VALUATION

  • Purchase price allocation per requirement of ASC 805
  • Impairment analyses for goodwill, other intangibles and long-lived assets per ASC 350, ASC 360
  • Valuation of employee stock options and restricted stock awards per ASC 718
  • Valuation of intangibles like customer relationships, trademarks, technology, patents, databases, domain names, websites, brands, software etc.
  • Valuation of financial instruments encompassing derivatives, structured products, foreign currency convertible bonds and preferred stock
  • Valuation of guarantees and indemnifications
  • Valuation and structuring of contingent consideration

TRANSACTION SUPPORT AND COMPLIANCE VALUATION

  • Valuation for fund raising
  • Preparation of executive summaries and information memorandum
  • Assistance in developing business and financial models
  • Transaction fairness, solvency and other financial opinions
  • Private equity valuations
  • Financial due diligence
  • Business valuation for SBA lenders and financing purposes
  • FMV for compliance with IRC code section 409A
  • Debt capacity analyses as per IRC code section 385
  • Fair valuation for IRC code section 382
  • Step up in basis valuation as per IRC code section 338
  • Taxation planning and compliance (income, gift, estate, and property tax)
  • Valuation for litigation support

REAL ESTATE VALUATION

  • SBA valuation
  • Financial reporting and regulatory valuation
  • Real estate advisory
  • Market research and analyses
  • Property tax services
  • Litigation support
  • Due diligence
  • Strategic consulting

FINANCIAL DUE DILIGENCE BUY-SIDE

  • Quality of Earnings (QoE) Analysis
  • Quality of assets (QoA) analysis
  • Historical financial, trend and ratio analysis
  • Preparing & reviewing normalised EBITDA
  • Working capital analysis and computation
  • Compensation and benefits analysis
  • Summarizing accounting methodologies, policies and controls, including departures from GAAP
  • Identification and validation of key projection assumptions
  • Data room support

FINANCIAL DUE DILIGENCE SELL-SIDE

  • Reduce time to close and enhance value and negotiate with buyers on the client’s behalf
  • Uncover issues and reduce the impact of unexpected findings
  • Identifying potential Quality of Earnings adjustments
  • Identifying potential Quality of Assets adjustments
  • Assisting with the working capital computation and adjustments
  • Validating management’s adjustments to reported EBITDA

WORKING CAPITAL ANALYSIS

  • Understanding the target’s accounting policies and consistency in the application of GAAP
  • Analyzing historical working capital trends
  • Assistance in settling the working capital requirements at closing

POST ACQUISITION INTEGRATION

  • Preparation of post acquisition opening balance
  • Financial reporting assistance
  • Working capital true-up adjustments
  • Earnouts computation and settlement
  • Post closing adjustments analysis/review

OTHERS

  • Assessment of consistent application of GAAP.
  • Allocation of purchase price
  • Reviewing the share purchase agreement for indemnities and warranties
  • Contractual due-diligence
  • Transaction support right sourcing

STRATEGIC ADVISORY

  • Project feasibility and market viability studies
  • Developing a business strategy (using balanced scorecard studies) by conducting two-day ‘Organisation
  • Development Workshops’ aimed at revisiting the fundamentals of a business with the top leadership team  and chalking out action items for achieving sustainable growth
  • Advisory board representation for key business decisions
  • Preparation of a comprehensive business plan, based on strategic discussions with management
  • Numeric articulation of the business objectives planned for achievement in the foreseeable future

LEAD ADVISORY

  • Investor outreach for fund raising
  • Preparation of transaction documents like information memorandum; preparation of business plan and  financial model
  • Support and assistance in investor negotiations
  • Target screening and market outreach for buyside and sell side transactions
  • Evaluate the true value of the target entity and undertaking due diligence
  • Enabling entities get the best deal (buy side as well as sell side), deal structuring to achieve tax efficiency  and compliance with local regulations

Nishta Sharma

Managing Partner

nishta.sharma@knavcpa.com