Subsidiaries of multinational groups have various statutory audit requirements and challenges in terms of complying with the most appropriate and recent accounting standards and legislation. As new business transactions are entered into these may also give rise to complex accounting questions.
Keeping on top of these compliance requirements can be a logistical nightmare for groups and having the requirements and capacity to deal with the accounting knowledge of various business transactions can be problematic.
Our service offering covers two areas:
- Global statutory audit - Our global statutory audit model is unique in that we can mirror your Shared Service Centre (SSC) set up. We can manage your global statutory audits through our Dublin office which means that 80% of the audit fieldwork is done by a team from Grant Thornton Dublin regardless of the location of your subsidiary. We will liaise with the various local Grant Thornton offices right up until audit opinion sign off. Management of this process by us allows you more time to focus on your day to day business needs.
- Accounting advisory - Our Accounting Advisory offering involves providing practical solutions to complex accounting issues across three broad areas:
- Technical accounting advice on new transactions such as IPO and carve out accounting assistance or purchase price allocation accounting;
- Conversion and implementation of new accounting standards such as conversions from local GAAP to IFRS or implementation of new accounting standards such as the new revenue recognition, leases and financial instruments standards under both IFRS and US GAAP;
- Complex accounting solutions in the form of accounting proposition papers across areas such as business combinations, share options and complex financial instruments, complex consolidation work or group structure simplification advice.
Each service offering can be a distinct service to a client or in certain situations, where the necessary safeguards are in place, our team can offer both to the same client.
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