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Financial Reporting Advisory
Aspire with assurance
Reliable and timely financial reporting is essential given the heightened expectations of today’s investors, regulators, and other stakeholders. This, combined with increasingly complex financial reporting standards, reporting requirements associated with mergers, acquisitions, and divestitures and a shortage of necessary finance resources and technical knowledge poses significant challenges for companies. We provide an extensive range of financial accounting and financial reporting advisory services with a comprehensive industry-focused approach to enable an entity to achieve its goals while having confidence in its financial reporting output.
Are you ready for the challenge? Here’s how Deloitte can help
The financial reporting challenge is driven by developments in International Financial Reporting Standards (IFRS), with significant changes across many areas. The International Accounting Standards Board (‘the IASB”) has recently completed a number of projects on standards which relate to areas such as leasing, revenue recognition and financial instruments. Deloitte follows the development of new accounting standards in detail and forms professional views of their effects on a variety of industries early on.
Deloitte’s Financial Reporting Advisory team can help your business with:
- The implementation of complex accounting standards such as:
- IFRS 9/ASC 326 – Financial Instruments;
- IFRS 15/ASC 606 – Revenue from Contracts with Customers; and
- IFRS 16/ASC 842 - Leases; and
- IFRS 17 - Insurance contracts
Deloitte’s Financial Reporting Advisory team provides support to clients in the planning and throughout the adoption of these complex new accounting standards.
- On-call advisory services
- GAAP conversions between different accounting frameworks such as IFRS, FRS 101 and FRS 102.
- Deloitte’s Financial Reporting Advisory team provides support in selection of appropriate GAAP, guidance on accounting policies & related disclosures and preparation of the first set of new GAAP financial statements.
- US GAAP accounting advisory services
Deloitte’s Financial Reporting Advisory team will assist in identifying the key differences between US GAAP and IFRS or local GAAP. We can perform an analysis where subsidiaries of US entities are accounted for under a different framework.
- Complex areas such as revenue recognition, consolidations, accounting for joint ventures, complex financial instruments and developing new or tailoring existing accounting policies.
- Accounting for complex financial instruments such as hedge accounting and impairment analysis.
- Acquisition accounting and group restructuring
- Guidance on distributable reserves including maximisation of dividends/cash extraction
- Tax accounting support in interpreting relevant accounting standards
Onsite training support and finance talent resources
Our financial reporting advisory team can provide management with high quality staff during busy periods or when management have capacity constraints in terms of workforce.
Deloitte’s Financial Reporting Advisory team can assist in providing training to management and their teams on areas such as incoming standards or changes in accounting frameworks. This training can be provided at your premises or online and can support in meeting your CPD requirements in the year. As part of this training we can design and provide high quality training and support material on the areas identified.
Our team can also provide access to some of the best people on a secondment basis, often with specialist skills, thus providing a flexible and scalable workforce to meet your needs. This can be particularly important during busy times due to staff constraints or unexpected workloads such as completion of a project.