When SuperStar Tickets’ bank asked for an audit to support the company’s line of credit, the bank recommended Gross Mendelsohn since the company’s accounting firm didn’t prepare audited or reviewed financial statements.
Omar Sider, president of SuperStar Tickets, hired Ernie Paszkiewicz at Gross Mendelsohn. One of the first steps Ernie took for his new client was to find out if the bank would accept reviewed financial statements instead of audited financial statements. This step resulted in a much lower accounting bill for Ernie’s client.
In Our Client's Words
“When our bank asked for a full-blown audit to support a line of credit, Ernie Paszkiewicz at Gross Mendelsohn suggested we could save money by getting reviewed financial statements instead. When Ernie talked with our bank, he convinced them that reviewed financial statements were an acceptable alternative to audited financial statements. My bank was comfortable with this reduced level of assurance if Gross Mendelsohn did the work. I already found Gross Mendelsohn’s fees to be reasonable, but Ernie’s suggestion reduced our accounting fees by about 50%.
This was Gross Mendelsohn’s first time working with a ticket broker, yet their work was efficient, thorough and delivered on time. They asked all the right questions, talked to our staff and did everything they said they’d do.
Soon after we hired Gross Mendelsohn as our CPA firm, Ernie discovered that our accounting department was recording some of our numbers too conservatively. This resulted in a greater than necessary tax burden. He made suggestions on how to be aggressive enough to lower our tax burden, while still complying with accounting and tax rules. Ernie’s recommendation saved my company $60,000.
Ernie is very professional, always has great advice, and has mentored me through banking issues, including reviewing term letters.”
— Omar Sider, President