At EY Luxembourg, we audit more than 300 Private Equity and Venture Capital structures, such as SICAR, SIF, UCI Part II or SOPARFI. Our audit approach is based on the EY Global Audit Methodology (GAM) and has been fully customized to the specific nature and risk profile of Luxembourg Private Equity and Venture Capital structures.
The key philosophy of our approach is that we focus on identifying and prioritizing the key business and financial statement risks of your investment structure and then assessing the design and operating effectiveness of your controls to mitigate these risks. Our office has developed significant hands-on expertise in applying the International Private Equity and Venture Capital Valuation Guidelines. We are experienced in applying the key accounting frameworks such as Luxembourg GAAP, IFRS and US GAAP in a Private Equity context. In particular, our Private Equity specialists know how to apply complex standards such as IAS 39 and IFRS 7 to the specific needs of Private Equity funds and funds of Private Equity funds.
We have the highest market share in the audit of Luxembourg Private Equity structures with e.g., 50% of all SICAR’s by volume.
Depending on our client’s preferences, the EY Private Equity audit approach can offer an integrated approach to the whole Private Equity value chain, including the fund, the special purpose vehicles and the portfolio companies.
Financial Accounting Advisory Services (FAAS)
We provide a full range of advisory services to assist you in accounting and financial reporting. Our scope of services includes:
Transaction accounting and financial reporting advice
- GAAP conversion, implementation or assistance
- Accounting assistance on due diligence
- Purchase Price Allocation (PPA)
- Transaction accounting and reporting
- IPO assistance
- Accounting and regulatory support with financial communication, special matters and new standards as well as advice on regulatory requirements and debt covenants
Accounting processes and controls support
- Accounting processes or systems and controls changes
- Accounting assistance for the implementation of a consolidation tool
- Contract accounting (mainly for long term contracting business)
- Loaned staff arrangements (limited application).
Accounting compliance and reporting assistance & on-call financial reporting advice
- Assistance in consolidation reporting
- On-call financial reporting advice
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Olivier Coekelbergs, our Private Equity leader, has been interviewed by the ALFI where he stands that “It will be difficult for alternatives managers to raise money if they don’t have the AIF label”, 8 January 2013