Financial reporting and management systems
Alternatively, if two companies are merging then they will need to integrate the two financial reporting and management systems. This process can be particularly challenging if a number of entities are being integrated or if there are significant overseas elements. Extending or integrating financial systems can place a heavy workload on existing advisers or in house teams and haysmacintyre is used to providing support on these occasions – either on an ad-hoc or on an ongoing basis.
As a leading firm of accountants, we have broad experience of the vast majority of all the accounting systems and software in common use and this knowledge and experience is particularly valuable to organisations who are faced with integration with unfamiliar systems or changes to their systems.
Where there are established in-house teams, we work with them to identify where and how changes might be needed to support private financing deals and public listings and ongoing regulatory compliance. For some organisations, we have assisted in the development and review of their internal audit functions.
Note: IFRS, issued by the International Accounting Standards Board, are a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements. They came into force in 2005 for listed companies in all member countries of the European Union and in many other countries around the world. Their aim is to improve understanding and comparability of accounts, by adopting common standards across all participating countries.
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