All organisations periodically face difficult financial reporting and accounting issues, increasing the challenges faced by business.
All organisations periodically face difficult financial reporting and accounting issues.
Our accounting professionals help customers achieve compliance with accounting regulations in force and ensure that accounting operations match the objectives of the business.
Accounting and reporting support in IPOs
Traditionally teams of IPO advisors are usually fragmented and comprised of lawyers, bankers, auditors and consultants from different professional firms. KPMG can provide teams of specialists whose experience covers the critical areas of an IPO. KPMG can provide a wide range of accounting and reporting support to clients on their journey towards IPO and their preparations for being a listed company after the IPO.
When extraordinary circumstances create a need for temporary assistance, e.g. during M&A activity or restructuring, we are able to co-source scarce accounting and financial reporting resources.
Accounting advisory professionals also play a very important role as part of the integration process, by assisting our clients in meeting short and medium-term financial reporting requirements, as well as assisting in achieving full integration of the accounting processes.
We typically provide the following post-deal services:
Complex accounting issues - advice on complex issues related to the transaction and assistance in the determination of business combination accounting and purchase price allocation, including valuation allowances and deferred taxation;
Financial statements support - assistance in the statutory closing process and in implementation of group reporting, including alignment of accounting policies and procedures; and- preparation of financial statements
Preparation of carve-out financial statements - in connection with divestitures, spin-offs, debt offerings and IPOs.
Hedge accounting advisory
We have developed hedge accounting advisory services in direct response to client requests for assistance with the design of hedge accounting programmes complementing their risk management activities.
We ensure that full compliance with all hedge accounting requirements is achieved when implementing a hedge accounting program. Avoiding surprises in your financial statements is the key objective to be achieved in such complex projects.
Our team can design accounting policies and procedures, including hedge documentation templates, design of effectiveness testing methodology and assistance in the related operational implementation.
Accounting changes and quick scan
With the various projects from the IASB to achieve global convergence of accounting standards, IFRS are changing especially in the area of Leases (IFRS 16), Revenue Recognition (IFRS 15), Financial Instruments (IFRS 9) and Insurance Contracts (IFRS 4).
We are experienced in providing advice on the potential implication of the changes and provide practical insights on how companies can navigate through the transition in an effective manner.
Our team can perform a quick scan or a detailed assessment on the impact of accounting changes on:
- Financial statements;
- Processes and procedures;
- IT systems; and
Preparation of accounting manuals, policies and procedures
Our teams can assist in you reviewing or completing a comprehensive set of accounting policies and procedures, including development of accounting monographs specific for your operations. We can add value by benchmarking accounting policies to the accepted industry practices.
Preparation of financial statements under local GAAP/ IFRS
We can support you with the preparation of financial statements both under local GAAP and IFRS, covering a wide range of sectors from financial services to public institutions.
Technical accounting advice
We provide accounting advice, interpretation, and transactional support for transactions such as mergers, acquisitions, spin offs, debt and equity offerings, revenue recognition, leasing, and derivatives. We also provide advice in helping companies understand the implications of new accounting standards with extensive experience in IFRS and local accounting standards. Our knowledge and insight allows us to deal with complex issues that require strong technical accounting skills and provide ad hoc advice and project-oriented support, especially in the areas of complex accounting issues.