As financial reporting standards become ever-more technical, the need for specialist advice and support has never been greater.
We understand the year-end can be a difficult time, with many companies simply wanting to get through it, and then forget about it until the following year. But your accounts are more than just a statement of your company’s transactions and financial position.
As well as ensuring compliance with the relevant laws and regulations, they are an expression of the way your company does business. When you entrust RSM’s financial reporting services to provide financial reporting support, you will not only receive a well-prepared set of accounts, but you will be demonstrating to your existing investors and stakeholders and potential new clients that your business is reputable and transparent.
Whether you are reporting under IFRS or Irish and UK GAAP (Generally Accepted Accounting Principles), RSM’s financial reporting support team is on hand to provide the expertise and assistance you need.
As one of the leading accountancy firms in Ireland, you can rest assured that our financial reporting support team will provide a premium service. Our financial reporting advisory service is fully tailored to your business and covers all your needs, from producing financial statements to dealing with complex transactions and auditor queries as well as providing you with year-round telephone support.
RSM is a powerful network of audit, tax, and consulting experts with offices all over the world, but with a personal approach to every business and individual we work with. RSM Ireland is able to deliver the best of both worlds – both as an independent Irish-owned firm offering financial reporting services, alongside the ability to harness the benefits of a global market leader for mid-market businesses like yours.
Keeping up with financial reporting standards
As the way we do business continues to evolve, regulators are forced to continually develop financial reporting standards to keep abreast with changes in business practices. Some of these changes are complex and technical in nature as many companies have started taking part in increasingly sophisticated activities, such as:
- Joint ventures or other collaborations
- Capped or variable interest rate loans
- Group restructuring
- Employee share options and incentive schemes
- Hedging and other types of forward currency transactions
Many businesses do not realise the complexity of financial reporting on the relevant transactions in their accounts. Yet, because of these continuous changes, they are required to comply with the very complex reporting implications that arise.
Our financial reporting support team can help you identify the effect that changes in standards will have on your accounts and help you to deal with any consequences. When you employ us as your financial reporting advisory, we see ourselves as an extension of your finance team. We advise you on the optimum accounting policies for your business and work alongside you when presenting these to your auditors.
The New Irish and UK GAAP
We actively keep abreast of any developments in financial reporting, including changes to international standards. Recently, Irish and UK accounting standards underwent a radical change, namely FRS 102 - the new Irish and UK GAAP was launched. As an Irish accounting standards advisory, we have taken a keen interest in the new Irish and UK GAAP, and want to reassure you that our financial reporting services will make it a smooth and trouble-free transition for you and your business.
If you’d like to find out more about the financial reporting support we can offer you and your business, contact us for more information.