Financial reviews | Consulting | Process rationalisation

Efficient Operations and Successful Financial Closings with Expert Support

Transforming internal processes, year-end closings, and audits can pose significant professional challenges. With decades of experience in finance, accounting, and auditing, we help your organization operate more efficiently, transparently, and with less risk.

Brief overview → Sikeres évzárás & audit via Pro Excellence (in Hungarian)

“The sunlight behind the storm clouds always brings change. This new light helps us see what we hadn’t noticed before.”

Our Services:

  • Financial consulting for monthly and annual closings
  • Preparation for audits
  • Support during a change of accounting firm
  • Expert assistance with internal audits and due diligence
  • Streamlining and reorganizing processes
  • Consulting for auditing firms
  • Preparation for internal quality control (MIR)

Why Process Improvement Is Important

Significant improvements in efficiency can be achieved within organizations through the proper organization, management, and control of tasks. Throughout my career, in every leadership role I have held, I have succeeded in implementing significant changes and streamlining measures that have substantially raised the standard of “internal services” to the satisfaction of other departments

Change management is a complex process, and the following are essential to its success:

  • expertise and experience
  • excellent, well-prepared colleagues
  • perseverance and consistency
  • as well as the involvement of external experts when necessary

When you might need Consulting

Financial advisory:

  • You are seeking expert support for a company due diligence review, internal audit, or a change of accountant
  • Last year’s management letter contained significant findings
  • You are preparing for an audit and want to minimize risks

For audit firms: 

  • Preparation for the internal quality control required by the Hungarian Chamber of Auditors. Learn more here  → MIR (in Hungarian) 
  • Consulting and professional support for improving audit processes. Learn more here → Minőség & Audit (in Hungarian) 

Consulting for process rationalisation:

  • You want  to streamline the processes of your department and make them more efficient 
  • Your departments work in isolation, lacking proper coordination and communication
  • Organizational restructuring or process optimization is needed

References    

Consultancy, audit firm process rationalisation: a Hungarian-owned accounting and auditing firm of a few people asked us to review their audit processes to ensure efficient audits and compliance with the MIR regulations. Feedback: "The presentation was structured and planned in a very professional manner.... We expected it to be of high quality. We benefited greatly from the consultation. We now view the challenges ahead with a fresh perspective, and as a result of the presentation, we have plans regarding the reorganization of the company and the planning of tasks. Thank you for your help! " (managing director, audit firm) ) 

Consultancy, condominium, change of accountant: I was asked to act as an external expert for the change of accountant of a condominium. The assignment was to review the accounts for the period ended during the year, identify the items to be adjusted, liaise with the accounting firms and present the findings and recommendations. Feedback: "Outstanding analytical and accounting insights, along with comprehensive consulting services." (representative, condominium) 

Support for international internal audit: It was prepared for an internal audit of the Hungarian subsidiary of a South American company. For this audit, I was asked to act as an external expert, mainly to help overcome language barriers and to participate in the organisation. During the two-day audit, I was involved in the technical tasks and we managed to complete the audit on time and as planned. 

Due diligence for an acquisition: the client (a fellow engineer) was planning to buy a company as a private investor. Before signing the contract, he asked an external expert to carry out due diligence on the company, focusing mainly on the financial aspects. The scope of the due diligence was limited to two days. Based on the due diligence, the company was considered to be risky from a liquidity and investment point of view and not recommended for purchase. On the basis of the information and opinion received, the client withdrew its intention to buy. 

Due dilligence for bank financing: I was involved as an external expert in the due diligence of a production unit of an Austrian-owned company in Hungary. The bank that financed the company wanted to know what changes were needed to make the company profitable, whether it was worth running the plant, and how much it would be worth if it had to be sold. A technical colleague and a controller also participated in the work organised by the consultancy firm. We successfully completed the work assigned to us and prepared a summary report for the bank. Due to the confidential nature of the assignment, we did not receive direct feedback on the outcome of the bank financing.

 

In case you need any support, please feel free to contact us → Contact. 

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