RSM Hong Kong
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Financial Reporting Advisory

The increasing complexity of global and domestic financial reporting standards can pose major challenges for businesses and their key functions. Implementing changes in accounting requirements, preparing for an IPO, undertaking a group reorganisation, acquisition or disposal and raising debt or equity finance are all elements impacted by financial reporting standards and a business’ understanding of them.

The potential impact on reported results and financial positioning of these events or transactions can be significant. The costs of non-compliance with financial reporting standards can be high, given the ever-increasing level of regulatory scrutiny and enforcement. The associated business costs can also increase if the wider impacts on taxation, information systems and internal controls are not fully understood and addressed. Finance teams already face considerable demands in managing the day-to-day running of businesses but with the help of our financial reporting solutions, these changes can be navigated smoothly.

RSM Hong Kong’s financial reporting advisory team has extensive experience in the adoption of new financial reporting standards, capital market transactions, accounting for mergers and acquisitions, disposals and complex financial instruments. Our financial reporting experts provide in-depth technical knowledge of financial reporting standards which, combined with our firm’s full range of taxation, IT, internal control and valuation advisory services, will help you address all aspects of your financial reporting needs.

We advise on a wide range of complex accounting issues including the adoption of the new revenue, leasing and financial instruments standards, accounting for business combinations, pre-IPO group reorganisations, complex financial instruments such as convertible notes and derivatives and the consolidation of entities controlled through structured contracts. Our team delivers tailored accounting training for finance teams and/or audit committees.  We also assist companies in responding to financial reporting enquiries by regulators.

In summary, our financial reporting services include:

  • Adoption of new financial reporting standards
  • Capital market transactions
  • Mergers and acquisitions
  • Disposals

Pre-IPO preparations

Complex financial instruments

We are best suited to help businesses who are:

  • Undergoing corporate restructure
  • Implementing complex accounting and tax rules
  • Preparing to list
  • Planning demerger

If your business is on the verge of heading into a key corporate transformation, it’s crucial you lead the process via a thorough and detailed understanding of the relevant financial reporting standards. Staying on top of the dynamics surrounding the latest reporting is a fundamental element of what we do, and our financial reporting services can engineer a smooth transaction and sustainable growth for your enterprise – avoiding costly compliance and audit issues down the line.

Coronavirus: Financial reporting considerations update

28 May 2020
Financial reporting considerations update by RSM IFRS Advisory Committee   Update May 2020