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

Audit, Compliance and Review Services for

  • Statutory Audit
  • Employee Benefit Plan Audit
  • SOC Audit
  • Special Purpose and Compliance Audit
  • Financial Statement Audit

Derivative and Hedging Advisory

  • Construction of Hypothetical
  • Qualitative and Quantitative assessment
  • Hedge Design Documentation
  • Hedge accounting policy assessment

Government Accounting and Audit Services

  • Financial statement audit including A-133 Audit
  • State and Federal Compliance Audit
  • Performance Audits
  • IT General Controls Audit
  • Assistance in preparation of financial statements and Comprehensive Annual Financial Report (CAFR)
  • Education and training at all levels
  • Budgetary analysis
  • Grant management
  • Implementation of internal control procedures and processes
  • Capital asset accounting and reporting
  • Financial planning and cash flow management

Federal and State Income Tax Compliance

  • Preparation and filing of Federal, State and Local Tax Returns
  • IRS and State Representations
  • Evaluation of Special Deductions and Credits to reduce the effective tax rate
  • Earnings and Profits studies to enable corporations assess their ability to pay dividend

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 US GAAP, IFRS and IndAS
  • Current and deferred tax calculations
  • Identification and quantification of uncertain tax positions
  • Preparation of financial statement footnotes and disclosures
  • Developing tax basis balance sheet

Transfer Pricing

  • Creation of Transfer Pricing strategy
  • Audit, Documentation and Litigation Support

US GAAP Advisory

Accounting Standard/Financial Reporting Advisory

Implementation of New Standards and Processes

Standardization of IFRS or US GAAP Conversion

Updation of Accounting Tools and Functions

Cash Flow Related Services

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

Financial Due Diligence

  • Quality of Earnings (QoE) and Quality of Assets (QoA) Analysis
  • 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
  • Buy-side and Sell-side Tax Due Diligence Support

Post Acquisition Integration

  • Preparation of post acquisition opening balance
  • Financial reporting assistance
  • Working capital true-up adjustments
  • Earnouts computation and settlement
  • Post closing analysis and review
  • Tax Impact post m and A Advice on various post-acquisition aspects like optimal structuring, carryover of tax attributes, optimal acquisition vehicle and funding, etc

Transaction Support Outsourcing

Financial Reporting Valuation

  • Purchase price allocation for business combinations & transaction accounting
  • Impairment analysis for Intangible Assets and long-lived assets
  • Valuation of
  1. Employee stock options and restricted stock awards
  2. Intangibles
  3. Financial instruments
  4. Guarantees and indemnifications
  5. Contingencies

Business Valuation and Support

  • Valuation for fund raising
  • Preparation of information memorandum
  • Developing business and financial models
  • Transaction fairness, solvency and other financial opinions
  • Business valuation for SBA lenders and financing purposes
  • FMV for compliance with IRC code section 409A
  • Debt capacity analysis 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 and Support

  • SBA valuation
  • Financial reporting and regulatory valuation
  • Market research and analysis
  • Property tax services
  • Litigation support
  • Due diligence

Internal Audits and Management Assurance

  • Preparation of a risk-driven internal audit charter
  • Assessment of the capabilities of internal audit function
  • Grading of internal audit observations for their risks and business impact
  • Analysis and management of precise deficiencies

Assessment of Internal Financials; SOX

  • Ensuring readiness for SOC (1, 2 and 3) and SOX compliances

Risk Management

  • Development of a risk management policy and mitigating framework
  • Analysis and management of threat and vulnerabilities
  • Profiling and polarisation of risks
  • Evaluation of mitigating measures (including bench-marking with best practices)

Forensic and Investigative

  • Fraud and financial investigation
  • Fraud risk assessment
  • Dispute and litigation support
  • Corporate business intelligence
  • Pre-employment background checks

Entity Registration

  • Businesses structured as an LLC, corporation, partnership, or nonprofit corporation would require registering with the state where business activities would be conducted
  • Businesses that are operated from more than one state are considered domestic by the state that they are registered in and are required to file for foreign qualification in all other states where the business is active
  • We help our clients not only with the registration but also guide them to obtain an Employer Identification Number (EIN) which serves as the federal tax ID

Determining the Type of Entity

  • In USA, business can be structured as Sole Proprietorship, Partnership, Limited Liability Company, Corporation, C corp, S corp, B corp, Non-profit corporation or Branch of a Foreign Corporation. We help our clients understand which type of entity suits their requirements and handhold them through the process.

Auditing Support

  • Public Companies in the United States are required to have annual audit and quarterly financial review by an independent CPA firm registered with the Public Company Accounting Oversight Board (PCAOB)
  • Although federal laws do not require audits for private businesses it is generally a requirement of other stakeholders such as investors, banks and/or other lenders
  • With more than 20 years of experience in providing audit and accounting support to our clients in USA, we help companies – public or private to meet financial statement audit requirements

Nishta Sharma

Managing Partner

nishta.sharma@knavcpa.com