Companies are constantly evolving and can face complex financial reporting challenges, arising from business changes (i.e. acquisitions, disposals, financing and equity issues) and development of the regulatory environment (i.e. accounting standards, listing rules, company law). It’s vital that companies understand the financial reporting impact of entering into a transaction or contract and the options available to help them reach the best commercial decision that allows the business to grow and achieve more.
Financial reporting is increasingly complex and, given the growing publicity around high profile accounting scandals, it is more important than ever to correctly interpret and apply accounting standards to drive appropriate decision-making, boost productivity, and increase levels of trust and transparency with stakeholders.
Accounting for complex transactions, navigating new and existing standards and developing memos for accounting positions can overload finance departments. We understand what auditors look for and can help you with the preparation of robust memos, accurate calculations and models to support you through your audit process.
Other significant events within your business may demand a tight turnaround and you might not have the resources, or it may not be cost effective to recruit externally when you only need someone on an interim basis.
Seeking expert advice, either regularly or as a one-off for unfamiliar or difficult situations, is critical to understanding the impact of a transaction on key metrics and financial statements and choices available, whilst alleviating pressure on finance teams. Our Accounting Advisory Solutions offering provides an integrated approach with traditional accounting and assurance, financial reporting, and governance, with expertise in systems, processes and controls.
How we can help
Our Accounting Advisory Solutions team may provide:
Day-to-day support through an on-call service for ad hoc queries; and
Event driven, one-off projects or secondment style arrangements for specific assignments, providing support to technical and resource-constrained finance teams.
There are many situations where support from accounting advisory specialists can help:
Accounting and assurance support
Consultation on the impact of complex accounting issues
Transaction accounting support and advisory, including accounting implications and journal entries linked with business combinations, reorganisations, disposals and purchase price allocations
New accounting standards, including impact assessment, understanding of transition options, and development of implementation plans (IFRS 9, IFRS 15, IFRS 16)
GAAP selection and conversions (FRS 102 or IFRS)
Review of Historical Financial information as part of a listing process
Development and review of accounting policies
Preparation of consolidation models
Cash flow preparation
Assurance and agreed upon procedures
Financial reporting support
Year-end and month-end financial statement close processes
Disclosure note drafting
Support with front-end narrative reporting (Directors reports, Strategic reports)
Technical accuracy review of financial statement for potential issues
KPI development and assurance
Governance and control environment support
Selection and application of appropriate Corporate Governance Code (UKCG code, QCA code)
Control and process reviews
Quantification of errors arising from control environment failures
A top ten UK accountancy firm, as ranked by Accountancy Age 2018.
Longstanding relationships to support clients’ business and personal interests throughout the business lifecycle.
Member of Nexia International, a top ten global network of independent accounting and consulting firms with over 500 offices in more than 120 countries.
Regular contributors of expert commentary on assurance issues in the national and trade press.
Actively involved in leading trade and industry bodies shaping the changes affecting your business.