Engagement
Prior-Period Restatement Support
Independent review support when management corrects a material prior-period error and needs a clear trail for the board and incoming auditors.
Discovering a material error in a prior year is stressful for a finance team and a board. Prior-period restatement support from Kairo provides an independent challenge of the proposed correction — how far back it reaches, which notes change, and how opening balances should read — without taking over the bookkeeping.
We produce a documentation pack that a successor auditor can follow, and a board note written without jargon so directors can ask informed questions. Where we later act as statutory auditor, independence rules for the correction work are assessed before either engagement is accepted.
Who it is for
- Boards confronting a discovered error in opening balances or prior notes
- Companies changing auditors mid-correction
Included
- Independent challenge of the proposed correction and disclosure draft
- Documentation pack suitable for successor auditor review
- Board briefing note in plain language
Outside this engagement
- Preparing the corrected statements as management’s accountant
- Legal advice on director liability
How the work proceeds
-
1
Error framing
Nature, periods affected, and quantitative impact are mapped with management.
-
2
Evidence challenge
We test the correction logic against source records and accounting standards cited.
-
3
Board pack
A concise note explains what changed, what did not, and residual uncertainty.
Ready to discuss scope?
Share your year-end date, reporting framework, and prior-year findings. We will reply with a draft engagement outline.
Open an inquiry