General Ledger Maintenance
Our team works with clients to onboard new accounts by creating and tracking a chart of accounts, and then maintains the general ledger, income statement and balance sheet, and performs monthly cash reconciliations against external bank accounts, reviewing and categorizing all transactions.
The accounting team is well versed in GAAP and IFRS, and can create audit ready financial statements on a monthly, quarterly and/or annual basis. The accounting team works closely with our in-house legal team in reviewing all relevant transaction documentation, to ensure that the team has a thorough understanding of the transaction an entity is a party to. Outside of an audit, the availability of financial statements also greatly expedites the tax preparation process, which our team can also assist in coordinating.
Citadel SPV’s accounting and corporate governance teams work together in preparing the slate of services required by funds who are seeking to outsource their accounting and governance work. The services often include not just the maintenance of corporate and financial books and records, and the preparation of financial statements, but also satisfying budgeting and reporting requirements, and coordinating treasury functions.
Whether an audit is required for internal compliance, or by an outside rating agency, investor or lender, Citadel SPV’s team can coordinate the annual audit process. For clients who do not have a designated audit firm, Citadel SPV can assist with the selection of an auditor, based on our past background of working with both large and small audit firms. The team will then coordinate with the audit firm by providing prepared annual financial statements and all requested backup documentation, and will work with the audit firm to write the audit report footnotes.
Citadel SPV can coordinate state and US federal tax return filing requirements by assisting clients with the selection of an outside tax preparation firm, and then providing such firm with financial statements prepared by Citadel SPV, including any requested backup information. Even further, our in-house legal team assists with the onboarding process by reviewing any related transaction structure with the tax preparation firm, to ensure that all reporting is done consistently with transactional documentation.