Virtas Partners has developed enablement tools to track and record adjustments, prepare bridge reconciliations, and prepare summary financial statement caption information from detailed ledger balances on a pre and post adjustment basis.
Client Need
Organizations facing major reporting events often lack GAAP‑compliant financial statements and the infrastructure to produce audit‑ready reporting.
Common scenarios include:
- IPO readiness and S‑1 preparation
- PE buy‑side platform acquisitions with no prior GAAP reporting
- Post‑acquisition environments operating under TSAs
- Fragmented systems and inconsistent ledger structures
- Heavy reliance on spreadsheets and offline reconciliations
- Compressed timelines and auditor pressure
- Challenge: Produce accurate, defensible financial statements quickly and consistently.
Tailored Solutions
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Virtas deployed a combined machine learning, automation, and expert technical accounting approach to accelerate financial statement preparation and ensure defensibility.
- AI‑Enabled Data Ingestation and Adjustment Tracking
- Automated Bridge Reconciliations & Caption-Level Reporting
- Caption Mapping and Tracking from Trial Balance to Financial Statements
- Disclosure Information Gathering
Value to client
- Accelerated production of GAAP‑compliant financial statements
- Reduced manual effort through ML‑enabled automation
- Improved accuracy and defensibility of reporting
- Audit‑ready transparency with clear adjustment logs and bridges
- Stronger technical accounting foundation for IPO, PE platform creation, or post‑acquisition operations
- Repeatable framework for future reporting cycles
Capabilities
- Data harmonization and cleansing
- Data Analysis
- Technical Accounting
- Financial Reporting
- Audit Support Services