Accounting firm EisnerAmper has announced the launch of a new group focused on working with special purpose acquisition companies (SPAC).
Formed by investors or sponsors, a SPAC is an entity that raises public capital and pursues further acquisitions, mostly targeting newly listed companies following an IPO.
However, due to increased regulations such as SEC reporting requirements, the implementation of new standards, and financial statement audit and internal control compliance SPACs face a variety of new challenges.
In turn, EisnerAmper’s SPAC group will offer integrated services for every stage of the SPAC life cycle, including formation and IPO, operations prior to a target merger, de-SPAC, and post-merger.
The group is composed of experts across a range of areas, including outsourced supporting services, cloud accounting, technical accounting, tax planning, transaction advisory, compensation planning, and other advisory services.
Nina Kelleher, director and SPAC team leader at EisnerAmper, said: “Due to the complex nature of SPACs, you need a dynamic team of experts in risk management, formation, valuation and the accounting aspects of becoming a public entity.
“Our specialists are committed to helping companies through the entire process to reach their SPAC goals.”
Jay Weinstein, vice-chair of industries and markets at the group, added that the new team is “yet another way” that the firm can “grow our practice while providing innovative solutions” for its clients.