Implementing financial and reporting requirements of a new business structure

Our client’s need

Northern Technologies International Corporation (NTIC), a publicly held international engineering and testing firm, operates in North America, Europe, and Asia. NTIC’s historical expansion practice was to gain entry into foreign countries via joint ventures with local partners.  To further the company’s growth plans and support changes in its business, NTIC decided to expand their international reach through formation of wholly owned subsidiaries.

Baker Tilly solution

Baker Tilly and other independent member firms from the Baker Tilly International network worked with NTIC’s management to assess the accounting and financial statement implications of owning foreign entities and worked with the company to implement the requisite changes. Baker Tilly’s depth of international experience and our significant knowledge of the company’s strategic direction enabled us to proactively anticipate NTIC’s needs and recommend solutions that would be beneficial in fulfilling the company’s long-term strategy.

Results achieved

The depth of the Baker Tilly International network provided NTIC with the peace of mind that the accounting and financial statement aspects of its global expansion were handled properly and helped ensure company compliance. Network firms also provided access to data that helped ensure deadlines and regulatory guidelines were met.