SydneySydneyAmsterdam +61 408 200 814 +31 6 2983 2003

Fast Audit

Our procedures allow us to immediately identify errors the average user wouldn’t.

Experienced Auditors

We’ve been auditing models for many years-we will help you produce an error-free model

Business going in the right Direction?

You will only know if you have the correct cashflows.

Why should I get my model audited?

Many reasons:

  • If you are the owner of a company, project, transaction, or an idea, don’t you want to be 100% sure that your cashflow forecasts are correct?
  • If your forecasts are incorrect, you could be wasting money: making the wrong decisions re quantum or location of future spend: across capex, opex, employees, promoting one product versus another, building a new factory when demand forecasts are incorrect, or incorrect inflation forecasts have been used. 
  • Submitting a model with error’s,  in a bid or to a potential lender, or to any party – immediately reduces credibility of your business/ project/idea.
  • A financial model is only as strong as its weakest link. Hence the importance of a thorough model review.
  • An audit brings fresh eyes and an independent 3rd party who may notice issues that you haven’t.
  • In Excel, the “engine”/ the calculations, are “under the surface” – there could be a myriad of errors – invisible until it is audited.
  • In Financings: Some models are required to be audited as a Condition Precedent (CP) in a transaction as the financial model is the backbone of a transaction. Thus the model signed-off at financial close often becomes the legal decision-making tool post financial close that (in Project Finance) calculates (amongst other things) covenants, required additional repayments, build-up of reserves (i.e. DSRA) and distributions to equity (or restrictions thereof), and in all transactions generally (from an IPO of a gold mine to a cashflow forecast re a widget factory) – is one of the key files that will be referred to many years after the transaction.

What audit services do you provide?

Whatever the client requires : We offer varying levels of reviews, ranging from a quick “healthcheck” to a complete model review/ rebuild / interrogation of all inputs and calculations:

  • Healthcheck :  Need a quick high-level review? A day is enough for us to review the model, including running “model maps”, and employ other tools in audit software, to give you a high level summary of issues.
  • Pre Audit check: If your transaction CP’s requires that the model is audited by a “Big 4” firm, you can save money by sending it to us first for an initial review, as we will not charge you substantial hourly rates to advise minor issues.
  • Checking calculations only (i.e. no checking against due diligence / documentation).
  • Checking that calculations agree with documentation.
  • Checking that inputs agree with documentation.
  • Adding error checks: We’ll fix the issues we find and add more error checks to help you in the future.
  • Full interrogation of inputs and calculations: more than just checking that the model agrees with the documentation, some clients requires us to “dig deeper”, understand the sector / service, and further question information providers.
  • Creating a new “shadow” model, that should deliver the same results in the base case and under sensitivities.