15 Nov 2023 Haynie & Company Audit Services Testimonial – Ugami, Inc.
In the world of big tech, big data, and big revenue, audits are more important than ever. The more forward-looking and innovative a company is, the more it benefits from financial due diligence and assurance.
At Haynie & Company, we’ve watched the business world change since our humble beginnings way back in 1960. But the value that audits can deliver for today’s Fintech companies and tech startups remains as high as ever—if not higher.
Recently, our expert CPAs were asked to review the bookkeeping and financial statements of a remarkable Fintech company operating out of Miami, FL. Here’s what that company’s owner had to say about their audit services from Haynie & Company.
Audit Services Case Study: Ugami, Inc.
These days, there are credit and debit cards for every walk of life. Point-based reward systems are quickly becoming the norm and gaining serious popularity.
From frequent flier miles to gas rebates, hotel stays to retirement savings, point systems are designed to appeal directly to consumers. It was only a matter of time before a Fintech company like Ugami, Inc. created a debit/credit card for passionate gamers.
The Timeliness of Financial Due Diligence
Knowing when an audit could be most helpful for your company is half the battle. Once revenue starts coming in, tech startups should have financial due diligence on the brain. This was certainly the case with Ugami, Inc. co-founder and COO Andres Caldera.
“As a Fintech company, we take financial controls and compliance very seriously,” Andres says. “We have an internal requirement to have Audited Financial Statements. That’s why we work with Haynie.”
For some companies, it may feel like there’s never a good time for an outsourced internal audit. But after years of striving toward revenue generation, the earlier you get your books and reporting in order, the stronger your foundation for continued success.
Finding the Right Auditors For Your Fintech Company
What qualities should the right auditors have? Naturally, you want a company that’s efficient and able to quickly review financial statements. They should ask accurate questions, help you understand your potential, and even perform difficult calculations as needed.
As far as Andres Caldera was concerned, Haynie & Company made the grade from the start. “Felt they were a good fit for us. Personalized attention. Hands down expertise.”
Additionally, emerging tech firms innovating in new markets require the full attention of their auditors. In the early days, companies like Ugami, Inc. needed a committed team of auditors dedicated to uncovering every issue and every opportunity.
Of Haynie & Company’s auditors, Andres says they were, “Super serious and consistently engaged. When the team started to work on the audit, I was impressed by the quality of their work, attention to detail, and turnaround times.”
Delivering value-added, cost-effective financial due diligence is all the more valuable when audits are completed swiftly. With an average of 1-3 months, audits can give companies like Ugami, Inc. the confidence they need to pursue their goals for years to come.
Reporting & Final Results
With audits, as with other financial services, the proof is in the pudding. Haynie & Company reviewed Ugami, Inc.’s financial statements and bookkeeping to ensure that everything was up to standard.
Additionally, Ugami, Inc. management received a full report outlining the accuracy of their statements and the appropriateness of their bookkeeping methodology. For COO and co-founder Andres Caldera, the experience was absolutely worth it.
“Report was clean and spot on,” Andres says. “We’re very pleased. We plan to keep using Haynie’s services in the future.”
Is Your Tech Startup or Company Ready for an Audit?
Haynie & Company Senior Audit Manager Steven Hurd maintains a team of top CPAs, assurance professionals, and financial due diligence veterans at his office in Phoenix, AZ. For tech startups and Fintech companies like Ugami, Inc., Steven recommends scheduling an audit the moment your company starts generating revenue.
Otherwise, Steven says, you could be faced with auditing multiple years of reporting, complicating and elongating the audit process. To get started with your audit, contact Steven Hurd at his Phoenix office by calling (602) 962-3007 today!
Haynie & Company: Experience You Can Trust. Results You Can Build From.
Your company’s financial fitness is only as good as your audited financials confirm. Don’t guess about your profitability or bottom line—especially when you’re just seeing revenue come in. Know you’re on the right path and doing everything in your power to set yourself up for future success. Call Haynie & Company for your audit today at (602) 962-3007 or find a location near you. Learn more about our audits and assurance services to find a form of financial due diligence that suits your company.