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Accounting complexity – navigating through an ever-changing environment
As our accounting environment grows ever more complex, the pressures it places on companies’ finance functions only increases.
Businesses increasingly need higher quality accounting advice; advice that not only inspires confidence in areas of challenge and judgement, but which gives all management and stakeholders a clearer understanding of the challenges facing their business.
When might accounting advisory services help?
There are many situations where support from accounting advisory specialists can help:
- Companies may lack sufficient resources or expertise in their own accounting function to fulfil all their responsibilities.
- Companies may need accounting advice around specific activities, including a merger or acquisition, a corporate restructure or refinancing exercise, or
a cashextraction from the business.
- Companies might need to change their accounting policies or accounting framework (such as switching from FRS102 to IFRS), or need help with the implementation of new accounting standards, for
examplethose on financial instruments (IFRS 9), on revenue (IFRS 15) or on leases (IFRS 16).
- Companies may need to think about new standards’ long-term relevance to their accounting policies and procedures, or their impact on KPIs, covenants, internal controls and any capital requirements – particularly in the financial services industry.
- Assist with new accounting standards and GAAP conversions, with solutions tailored to organisations’ requirements. Our specialists provide valuable insight on any changes required, their implications, and what the impact of different choices and judgements could be. Our support spans helping clients understand a new standard and answering questions that may arise from it, through to fully supporting its implementation.
- Provide finance function support through a retained relationship, offering support to resource-constrained finance teams; writing white papers to support accounting policy changes, and benchmarking against peer groups.
- Assist with the accounting implications of one-off transactions, such as group restructuring and refinancing, with services ranging from staff secondments and round-table sessions, to helping prepare in-house documentation and giving formal accounting opinions.
- Assist with major corporate transactions such as mergers or acquisitions. This includes working collaboratively with the various transactional teams to provide an all-important accounting perspective on the transaction from the very start of the process. We also provide post-transaction support to help move from a transaction environment to a business-as-usual one, providing support with acquisition accounting, alignment of accounting policies, preparing the client’s finance team, from supporting the finance function, post the transaction being completed.
- Provide assurance and confidence over the KPIs and other MI.
- Work with our Financial Services clients to help optimise the IFRS presentation of capital mitigation trades and transactions.
- Help both corporate and financial services clients navigate the IFRS consequences of IBOR reform including implications for hedge accounting and asset or liability restructuring.
- Support companies in accounting for financial instruments, including hedging strategies and accounting methodologies under UK GAAP, IFRS or US GAAP.
- Provide advice on financial reporting requirements under SEC rules and regulations and Advise on regulators' (UK, ESMA and SEC) hot topics in financial reporting.