Our Financial Reporting service

Accounting services

• Maintenance of the general ledger and proper books and records for the Company in accordance with International Financial Reporting Standards (“IFRS”). The books and records will remain the Company’s property at all times. The authorised person of the Company will have access to the books and records of the Company at all times;

•  Preparation of unaudited management accounts in accordance with IFRS (on a monthly or quarterly basis as instructed by the Company);

• Maintenance of cashbook, including monthly reconciliation of the bank accounts and analysis of receipts and payments, where applicable;

• General consultation on the application of IFRS and generally accepted accounting practices in relation to the Company’s activities.

Outsourced CFO services

Our Outsourced CFO service involves dedicating a qualified member of our team to act for organizations requiring ad-hoc assistance such as:

• Preparation of Budgets and cash flow forecasts

• Financial analysis involving assessment of key ratios, peer company results, and market data 

• Financial reporting and accounting service

• Financial modeling which consists of the 3-statement model as follows:

  • Use historical financial information into the model

  • Identifying the assumptions that will build the forecast

  • Prepare forecast report of the income statement, capital assets, financing activity,  balance sheet

  • Finalize the cash flow statement

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IFRS technical consultations

Our specialty IFRS department can assist with the following:

• Advising on implementation of IFRS as issued by the IASB or as endorsed by the EU.

• Assistance with building IFRS models. Examples include:

  • IFRS 9 - expected credit loss model (non-banking sector)

  • IFRS 9 - expected credit loss model (banking sector)

  • IFRS  16 - leases 

  • IFRS 2 - Share-based payment

  • IAS 32, IFRS 9 - Financial Instruments (advising on recognition, measurement and disclosure of financial instruments including complicated synthetic products, embedded instruments etc.)

• Providing technical IFRS report opinion 

Financial reporting

Our reporting involves the preparation of:

• Unaudited management accounts under IFRS/GAAP

• Unaudited special purpose reports

• Unaudited consolidated financial statements under IFRS/GAAP

IFRS convergence

Our IFRS technical team can assist with convergence to IFRS from GAAP. The conversion exercise is required on occassions such as:

• Preparation of consolidated financial statements under IFRS

• Preparation of stand-alone financial statements of entity with permanent establishment abroad (branch)

• Group Audit requirements

Group Consolidation Reporting

Our team boats vast experience in group consolidation reporting under IFRS over a broad spectrum of industries and can assist with compiling the group consolidation reporting as follows:

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• Collecting accounting data from each component 

• Covering technical IFRS matters by advising correct accounting practices. This involves liaising with the internal accounting team of the client to educate, guide and assist in implementing correct accounting practices that would built efficiencies in Group reporting

• Advise on IFRS conversions where necessary

• compiling the consolidation file which includes the main consolidation reports (CFS, CSCE, CIS, CSFP) and extensive notes in accordance with disclosure requirements of IFRS