Financial Reporting and IFRS Advisory

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** Protiviti’s Financial Reporting consultants help companies on various financial reporting matters. The conditions in today’s global business market, such as rapidly changing regulations, increased scrutiny of company financials, complex, nonrecurring business transactions, and complex accounting standards, strain the capabilities of many finance organisations. This amplified stress increases an organisation's exposure to mistakes, lost synergies and the inability to maintain base-level financial processes. The risk of these errors is typically higher during the adoption of new accounting standards; embarking on significant business transactions; implementation of new IT/enterprise resources planning (ERP) systems; restructurings, acquisitions and divestitures; and expansion into new markets or new businesses. **

Our Financial Reporting professionals are qualified chartered accountants with extensive practical experience in financial reporting across multiple jurisdictions and under various accounting frameworks (including IFRS and US GAAP). Our financial reporting experts provide the critical functional and project management expertise necessary to cost-effectively prepare for and manage non-routine situations such as transition to new accounting standards, restatements, mergers and IPOs. We proactively monitor new accounting rules, alert our clients to changing requirements and offer assistance with addressing complex accounting or reporting challenges, including the conversion to International Financial Reporting Standards (IFRS).

We also help companies establish effective internal control over financial reporting. We apply a top-down, risk-based approach to implement a cost-effective compliance process. We help rationalise the critical risks, identify the key financial controls, develop a credible body of evidence supporting controls design and operating effectiveness, drive accountability for compliance throughout the organisation, and coordinate the optimisation of the attestation process. Our experience gained by working with hundreds of other companies gives us the knowledge to help organisations think longer-term, make the right choices and create value as sustainability improves. Our flexible, comprehensive approach is driven by a customised road map that addresses each client's immediate priorities, planned improvements, longer-term strategic improvements and designated timetable.

Our services and solutions on Financial Reporting include:

IFRS Conversion
Training on Accounting Standards
Implementation assistance with complex standards such as IFRS 9 and IFRS 15
Impairment testing
Purchase Price Allocation
Preparation of pro-forma or projected financial statements
Preparation of carve-out financial statements
Development of chart of accounts
Providing interim CFO/Controller
Assistance with consolidation process, including automated consolidation tool
Revenue Recognition Processes and Controls
Stock-based Compensation
Fair Value Accounting
Post-merger integration of financial reporting process
Preparing Accounting/Finance Manuals
Accounting Assistance
Documentation, evaluation, testing of Internal Financial Controls (IFC)
Compliance cost reduction by rationalising risks and controls and implementing risk-based testing
Improvement of internal financial controls and the quality of key upstream business processes affecting financial reporting
Governance Portal implementation and support