Financial and Tax reporting
The Financial Reporting group within Ernst & Young focuses a unique depth of financial reporting know-how and commercial acumen on clients' financial reporting needs. Whatever the nature of the financial reporting problem the Financial Reporting group has unmatched expertise.
Both IFRS and UK GAAP present increasingly complicated and often convoluted reporting requirements that do not have intuitive solutions. The effective implementation of such requirements is essential for a business properly to present its results.
The Financial Reporting group has an unrivalled depth of expertise in the most complex reporting matters. These include, for example, pensions; financial instruments; income taxes; foreign currency; PFI contracts; subsidiaries, associates and joint ventures; provisions, disposals; and impairment.
Businesses that are in the process of considering coming to the market, whether on AIM or a full listing, that have not been reporting under IFRS, will have the need to convert their systems to produce IFRS compliant financial reports. The Financial Reporting group can assist clients:
- to identify the key areas of change;
- to fully comprehend the impact of the new reporting requirements on the results of the business;
- to maximise the business benefits;
- to complete the conversion efficiently and effectively; and
- to ensure staff understand the IFRS regime and can identify the effects on results of potential future management decisions and business structures.