Client stories
What finance teams noticed during fieldwork
Comments below refer to specific Ledger Strand engagements—stock counts, interim reviews, walkthroughs, and auditor transitions—not generic praise.
They spent two days in our Mihoshi warehouse before touching the year-end pack. The stock-count notes alone saved us from a late inventory write-down argument with the parent company.
Scheduling the observation across three sites took longer than we hoped, though the team was clear about why it mattered.
Our bank asked for mid-year comfort on receivables. Ledger Strand’s review letter arrived with a short issues list our credit committee could actually read.
The walkthrough on purchase approvals showed where one clerk both raised and posted invoices. We split the duties before the statutory auditors arrived.
Opening balances from the prior firm were messy. Partner-level attention on the restatement memo kept our shareholder meeting on the original calendar.
Fieldwork questions were specific—cut-off on export invoices, not generic ‘send more files’ requests. That alone cut our overtime in the closing week.
Extended story: three-warehouse count week
A coastal trading group closing in March held finished goods in Mihoshi plus two contracted warehouses inland. Prior auditors had relied solely on management counts. Ledger Strand scheduled observation at the largest site and roll-forward testing for the others, with cut-off instructions agreed two weeks ahead.
Confirmations for yen operating accounts went out in week one; one regional bank reply arrived late, so alternative procedures on subsequent statements were agreed with the controller rather than delaying the shareholder pack.
The management letter flagged consignment stock tagged as owned inventory—an issue the client corrected before report issuance. The reservation they noted was calendar pressure: coordinating three sites still compressed the week.
