Your financial statements are a key point of reference for stakeholders, investors, competitors and others who may be interested in your business. They can also be time-consuming and complex to prepare, with an increasing volume of regulations and reporting practices to keep up to speed with.

Businesses are required to accurately disclose their financial position each year in order to comply with company law and accounting regulations. As well as a compliance obligation, your financial statements also serve as a record of the historic financial performance of your business, present a prime opportunity to ensure any key messages about your business are communicated and are a solid foundation upon which to base your strategy and goals. 

A clear understanding of your financial position gives you the insight you need to make the right decisions for your business and its future. Robust and reliable financial reporting is particularly important for businesses looking to grow, refinance or restructure - however, with large and medium sized companies facing ever-increasing regulation, preparation of financial statements is taking up more and more time for finance teams already juggling a number of other priorities.

How we can help

Whether you are in need of specialist expertise to deal with technical accounting challenges, looking to integrate the financial statements of a newly-acquired company within a group, transitioning to a new reporting framework or simply struggling to find the time to get round to your financial reporting, we can provide a fully-tailored service to meet all of your requirements.

Our dedicated Financial Reporting Advisory team has over 20 years’ experience in helping organisations of all sizes manage their financial reporting and realise their goals. As well as freeing up the resources of your finance team, we can help you see the message beyond the figures by offering independent business insight as your trusted advisers.

As part of the PKF International network, we also have access to knowledge and technical expertise in every major international market.

Services we can provide include:

Financial reporting support

  • Preparation of the statutory financial statements under the appropriate financial reporting framework along with relevant disclosures (IFRS, UK GAAP).
  • GAAP conversions and first-time adoption (IFRS, FRS 101, US GAAP).
  • Preparation of group consolidation packs and co-ordinating reporting from subsidiaries and auditors of international groups.
  • Assistance with compiling the narrative reporting within your statutory financial statements (namely the Strategic Report and the Directors’ Report), ensuring these are compliant with company law requirements.
  • Liaising closely with your auditors in order to assist closure of any queries related to financial reporting.

Complex transactions accounting

  • Accounting policies for draft and new contracts.
  • Share-based payments accounting and valuations.
  • Accounting for business combinations, purchase price allocation and valuation of intangible assets.
  • Accounting for reorganisations or group simplifications.
  • Convertible debt and other complex loans and derivatives accounting.
  • Review and implementation of hedge accounting.
  • Assistance in dealing with other complex technical accounting matters, such as R&D accounting and revenue recognition.
  • Preparation of technical papers to support key accounting judgements / estimates, which can be passed to your auditors.

Secondments

Recruitment has been increasingly challenging in the finance industry. We can second a member of our experienced financial reporting team to your business to assist with special projects or short-term resourcing issues.

Get in touch

To find out more about our Financial Reporting Advisory services, or for an initial discussion about your requirements, get in touch with a member of our team below.


Gavin Young

Audit Partner

Gavin Young

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Barry Masson

Audit Partner

Barry Masson

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Stephen McIlwaine

Audit Partner

Stephen McIlwaine

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Irina Cheburdanidze

Financial Reporting Advisory Services Senior Manager

Irina Cheburdanidze

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Jordan Haldane

Audit Senior Manager

Jordan Haldane

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