Are you a large UK company?
Are you a large UK company or a group with many UK subsidiaries to manage annual financial statements for?
Are your auditors reluctant to assist you with the year end financial statements production process due to concerns over their independence?
Do you need to control spiralling audit fee overruns and late filing penalties due to difficulties in the annual financial statement production process?
Financial Statements Production
UK financial statements production has become increasingly complex and onerous. Our clients have responded to this by partnering with Financial Reporting Services for the preparation and iXBRL tagging of their UK financial statements. We make the financial statements production process as smooth and efficient as possible by using the latest software tools and drawing on our extensive technical accounting knowledge and experience. Having been auditors for many years, we fully understand what the auditors need to see and how to best present the information to them to complete the financial statements process in a timely manner.
Our approach is an advice inclusive financial statements production service tailored to assist clients who lack the time and/or in-house capability to produce their year-end financial reporting requirements, ensuring full compliance with the latest accounting standards and regulations.
The service we provide
The financial statements production service we offer covers all the steps from your final trial balance through to the production of draft financial statements ready for your review, together with a fully documented audit trail for you to share with your auditors. In most instances, we will liaise directly with the company’s auditors to resolve disclosure issues and minimise disruption for our clients arising from the numerous drafts and revisions that can be required to the financial statements.
Whether you are a sales office for a multinational company or a fully-fledged subsidiary company manufacturing in the UK, you probably need to report monthly to your parent company overseas.
Currency conversion issues, transfer pricing and intercompany reconciliations complicate month end group reporting and add to the time pressure.
The group reporting service we offer covers all of the monthly financial reporting requirements to your parent company, and can also incorporate annual budget preparation, cash flow forecasting, VAT returns, payroll and company secretarial services as necessary. We can communicate directly with your parent company to resolve queries and reduce the burden on local staff resources allowing them to continue with the day to day operational role that just won’t wait.
Financial Reporting Services has provided an excellent service across the UK members of the Amscan Group. When dealing with the complexities of newly acquired subsidiaries and the closure of subsidiaries we have received very flexible services and, where needed, support and guidance. I would certainly recommend FRS’s services to my contacts within private industry.
We have used Financial Reporting Services for the last 2 years for assistance in preparations for our external audit and year end accounts. There is excellent communication provided to non-financial staff and a great pro-active level of assistance. Helen is always happy to answer questions that we may have.
For a number of years, Financial Reporting Services has helped Halfen to complete its annual accounts cycle smoothly and efficiently. Our auditors, Group tax department and Companies House all appreciate the improvement in the timing and quality of our stats!
Since establishing Financial Reporting Services in 2007, Helen has specialised in assisting UK subsidiaries of global groups and private equity backed businesses with meeting their annual regulatory requirements for financial statements.
Helen’s background in auditing enables her to work effectively and efficiently alongside the company’s auditors and other advisers providing a professional, efficient and effective service.
Darren’s experience includes operating as reporting accountant for UK sales and distribution businesses and also operating highly transparent open book accounting for milk distribution co-operatives.
