“Coral Bay attended our Joetsu warehouse count at 6 a.m. after a snow delay. They flagged a cut-off error on two outbound trucks that our own team had missed. The statutory report still landed before the shareholder meeting, though we spent an extra evening reconciling.”
Client stories
Evidence from the engagement floor
These accounts describe specific audit steps, constraints, and outcomes. They are not star ratings or marketplace widgets.
“Their limited review of our September pack gave the Singapore parent enough comfort to release the intercompany dividend. I would have preferred a shorter findings letter — the appendix ran longer than I expected — but the covenant schedule matched what the bank asked for.”
“First statutory audit after twelve years of unaudited accounts. Opening-balance questions on land and machinery felt relentless in January, yet by March we had policies written down that the board could actually read.”
Extended story
Inventory valuation under lender pressure
A specialty chemicals distributor needed a statutory financial statement audit and a parallel agreed-upon procedures letter for a revolving facility. Slow-moving reagents had been carried at cost for three seasons.
Coral Bay’s inventory attendance identified lots past their usable window. Management recorded a provision before report date; the AUP letter then confirmed the ageing categories named in Schedule 4 of the facility agreement. The bank accepted the findings without requesting a waiver.
Constraint worth noting: two satellite sheds lacked perpetual records, so the team expanded sample counts and billed additional fieldwork hours disclosed in the fee letter addendum.