Before DLC

• Limited staff capacity and bandwidth during a critical reporting period 
• Inability to perform Q2 10-Q tie-out due to resource constraints 
• Risk of inaccurate SEC filings due to documentation gaps and time pressure 

After DLC

• Completed full tie-out of Q2 10-Q with supporting documentation 
• Created cross-referenced binders aligning support files to every section of the 10-Q 
• Streamlined internal workload, allowing staff to focus on ongoing priorities 
• Delivered the project on time, ensuring compliance with SEC filing deadlines 

Project Overview

A public real estate investment trust company recently faced a resource gap during a time-sensitive financial reporting period. With a key member reassigned to another critical initiative and an open headcount in the department, the firm required immediate support to ensure the Q2 10-Q tie-out was completed accurately and on time. 

DLC was engaged to step in quickly and take ownership of the tie-out process, including reviewing prior quarter documentation, validating current quarter data, and delivering a fully supported and cross-referenced 10-Q package without burdening internal staff. 

Business Challenge

With internal bandwidth already constrained and just two weeks remaining before the SEC filing deadline, the team needed an experienced partner to step in and drive the Q2 10-Q tie-out to completion.  

Communication challenges initially slowed progress, as the individual most familiar with the Q2 10-Q tie-out was supporting another initiative and only onsite once a week. With limited overlap and restricted access to key information, it was difficult to gain the context needed to move forward efficiently.  

DLC quickly identified that the Assistant Controller – who had previously owned the tie-out process – was available onsite and pivoted collaboration to that contact, ensuring the project stayed on track despite the tight timeline. 

Approach

DLC’s consultant began by reviewing the prior quarter’s documentation, organized into three binders by 10-Q section. The tie-out approach was methodical: 

1. Reviewed the Q2 10-Q from start to finish. 
2. Identified sections and tables requiring support. 
3. Referenced prior quarter documentation and support files. 
4. Mapped new support files to the current version of the 10-Q. 
5. Coordinated with the Assistant Controller for clarification and missing items. 

Our team also provided daily updates to the client’s SEC reporting contact, including outlining completed sections, proposed edits, and remaining tasks. On the final day, the consultant reviewed the revised 10-Q to confirm all edits were incorporated and support was accurately aligned. 

Results

The project was completed on time without requiring significant input from internal staff, enabling them to maintain focus on other key deliverables. The client received a fully tied-out Q2 10-Q supported by cross-referenced binders, reducing risk and ensuring accurate reporting to the SEC. 

This efficient handoff enabled the firm to maintain compliance and build confidence in its reporting process – even under tight deadlines and resource limitations. In addition, DLC gathered insights on the company’s upcoming ERP implementation and passed along detailed planning information for potential future support.