Accounting Advisory Services
Accounting Advisory Services
Accounting challenges can arise as a result of developments in underlying accounting requirements.
Accounting challenges can arise as a result of developments in accounting requirements.
In today’s regulated and fast changing financial reporting environment, it is important that businesses are kept in line with the applicable accounting standards because most of the activities carried out will have accounting consequences. Some accounting consequences are straight-forward, however, others are more complex and might require the help of accounting advisory specialists.
KPMG’s Accounting Advisory Services support companies in getting the right accounting solution in an ever more complex accounting environment.
Accounting Advisory Services provide a range of services – from a simple adhoc query helpline for Finance Directors and Financial Controllers to use as a sounding board – to formal accounting opinions and memoranda, new standard impact analysis, advice and step plans around GAAP restatement support.
Audit Readiness Assist and Technical Accounting Advisory
Accounting Advisory professionals within KPMG assist their clients in achieving compliance with accounting standards by advising on how they can establish financial reporting processes in a way that mostly benefits their company and in line with the objectives of the business. The services provided by the Accounting Advisory professionals relating to audit readiness assist and technical accounting advisory are:
- Advice on the applicability of International Financial Reporting Standards (IFRS) and the General Accounting Principles for Small and Medium-Sized Entities (GAPSME)
- Review of external financial reporting systems and published financial statements including the preparation or review of the Accounting Manual
- Assistance on the accounting impacts of specific transactions, significant events or structures such as restructuring transactions and M&A in conjunction with KPMG’s tax and advisory specialists
- Statutory Financial Statements Compliance with the applicable reporting framework
- Assistance and advice on complex accounting computations in accordance with IFRS
- Impact assessment of forthcoming IFRS requirements and accounting change services in relation to the adoption of newly effective standards. In this regard, KPMG develops a range of tools to smoothen the transition to new requirements.
Knowledge Management and Training Solutions
The Accounting Advisory Team within KPMG helps clients to be prepared for significant changes underway across the accounting profession by providing the following services:
- Direct access to a variety of training and executive education programs covering technical issues and emerging changes in technical accounting standards
- In-house Training Sessions
- Customised training courses covering accounting reporting topics at the request of the client
- KPMG Online CPE Platform providing training courses that are recognised for CPE purposes
- IFRS:myBusiness programme serving as a means of keeping oneself up-to-date.
KPMG’s Accounting Advisory Services in Malta can assist clients in the process of the preparation of consolidated financial statements by providing the following services:
- Assessment of accounting and reporting impacts and identification of gaps between IFRS and various accounting frameworks
- Assessment of accounting policy choices
- Assistance in the preparation of the opening consolidated IFRS Statement of Financial Position
- Assistance in the preparation of IFRS financial reporting
- Assistance with the implementation of consolidation software
The team of technical accounting specialists within the Accounting Advisory Services, are selected for their high technical competence and proven track record in helping clients to understand complex accounting requirements. They are dedicated to assist the clients to make the right accounting decision in the context of reporting objectives, commercial reality and regulatory requirements. Their experience ensures that they can address many business situations. In all cases, they will help in achieving a high quality accounting result that reflects the specifics of the transactions, events and conditions.
Our industry professionals combine local and global experience to meet the needs of their clients, mainly by assisting key management within the company in successfully overcoming the several challenges that they are faced with from time to time.