Financial accounting assistance to ensure completion of statutory accounts and audit

This firm was struggling to finalise its statutory accounts and external audit. This was in the context of new IFRS 9 requirements and potential prior year adjustments.

There was a requirement to analyse and present the required adjustments to previous reporting with sufficient clarity to facilitate completion of the external audit.

We worked with the firm’s financial accounting team and external auditors to identify the points of contention and where enhanced information was needed and/or needed to be created.

For those areas where prior treatment needed to be revised, we worked with the finance team to prepare an analysis of the correct IFRS 9 reporting position for successive years. We helped them to compute the required prior year and cumulative adjustments needed across various accounts and financial statements schedules.

The firm was able to prepare revised financial statements drafts and supporting schedules. These provided the external auditors with the evidence they required to sign an unqualified audit opinion.