FINANCIAL REPORTING

Friend LLP provide a variety of financial reporting services, ranging from the preparation of statutory and monthly management accounts to IFRS conversions.

Monthly management accounts may be part of a wider accounts outsourcing role or a discrete service where we effectively manage your own accounting function and provide the essential monthly checks and balances together with clear reporting of the performance of your business through figures and a commentary.

Larger businesses with robust accounting systems and dedicated finance teams may find that the production of annual statutory accounts is time consuming and distracting from the main purpose of the business. Your own auditors may not be able to help as much as they could in the past due to independence rules; we can step in and take away the pain and using our own software produce draft accounts ready for audit.

There may be occasions when there is a skill gap or simply significant time requirements placed on the finance team such that you require outside assistance. This is where we have stepped in to help businesses with projects such as conversion of accounts to IFRS and year end consolidations of newly formed groups. We have helped in this way when a company is undertaking a stock market transaction and in those circumstances we act as a link between the company and its reporting accountants.

Financial reporting advisory projects are part of our offering to those listed companies that need support in considering how best to implement International Financial Reporting Standards. Auditors of Listed Companies are constrained by Ethical Standards as to advice that can be provided to their audit clients, we can get fully engaged in considering how to apply standards, what information needs to be gathered and prepare the disclosures for the statutory accounts.