Farber Hass Hurley LLP is registered with the Public Company Accounting Oversight Board and can provide annual audits, quarterly reviews, tax and consulting services to publicly-held companies or those seeking to register with the Securities and Exchange Commission (SEC). Many companies seek to become public as an eventual exit strategy for the owners or to raise equity to expand their business. Our firm has what we refer to as The Professional Advantage. A company can save a large amount of money versus our larger competitors by using our firm to provide the annual audits and prepare the company to be positioned to go public. Given the heavy involvement of our management in the audits, we are more efficient and our rates across the board are significantly less than the larger firms. Company’s appreciate the greater access to our experienced management team and often learn more about the process of being a public company than they would from our larger competitors who leverage the audit field work by using staff barely out of school. This was evidenced by 3 notable clients:
Balance Bar’s owners and management recognized the potential of their product and the opportunity to go public and become a market leader in nutritional bars. There concern was the cost of using a larger firm to conduct their historical audits since cash was in short supply at this time in their business life and the need to get these past audits done as soon as possible to position the company for its Initial Public Offering (IPO). They turned to Farber Hass Hurley LLP. We were able to conduct the past 2 year’s audits in a short time and at a substantial savings from using a larger firm. Shortly after the completion of our audits, the company transitioned to a Big 4 firm and completed their IPO. We continued to assist the company in preparing their filings with the SEC and their corporate tax filings for several years.
Natrol Vitamins’ (Natrol) owners and management were in the middle of the preparation to go public and identified another company to acquire and include in their IPO. A Big 4 firm was Natrol’s auditor but was conflicted out of conducting the audit of the target company. Other large national firms refused to conduct the audit unless they were Natrol’s auditor and the clock was ticking on their IPO. They turned to Farber Hass Hurley LLP. Again, we were able to conduct the past 2 year’s audits in a short time and at a substantial savings from using a larger firm. Our report followed the Big 4 firm’s report in their IPO. Natrol’s management was so pleased with our firm that we were engaged again after the IPO to conduct the audit of another acquisition target.
Select Staffing (Select) is a $4 billion dollar privately-held company. The owners and management sought to complete a reverse merger with a public entity company. The timetable was extremely tight and the cooperation from their current Big 4 audit firm was less than acceptable. Nobody on Select’s management team had any experience with the SEC’s rules and regulations. They turned to Farber Hass Hurley LLP. We stepped in right away and assisted the management in transitioning to another national firm to conduct the audits while we focused on preparing the filings for the SEC and responding to the Comment Letters from the SEC’s staff. Working nights and weekends for several months, we helped meet the deadline for the filing at a substantial savings versus our larger competitors.