Assurance Services

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Consolidation services

Objective and scope

The difficulties surrounding the consolidation and reporting process are numerous. The level of the issues encountered will mainly depend on the objectives and complexity of the consolidation process, the people involved and tools used. Our team will work with you on the following:

  • Implement a consolidation and reporting process for management, the shareholders or the regulators
  • Provide assistance by outsourcing part of or the entire consolidation process
  • Improve the existing consolidation process including the IT system, fast close and internal control activities
  • Support the integration of new acquisitions and disposal of entities for consolidation purposes

We present hereafter:

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Our service offering

Our service offering

Assistance and support

a) Implementation of consolidation process

  • Project management
  • IT Solutions
  • Organization of process
  • Design of templates (reporting packages, financial statements, etc)
  • Provide extra resources as required
  • Loan staff
  • In-house training

b) Complex consolidation operations

  • Mergers
  • Acquisitions
  • Purchase price allocations
  • Disposals
  • Local GAAP and IFRS technical advice

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Outsourcing

  • Part of or full consolidation process
  • Data collection
  • Co-ordination with local accounting teams
  • Accounting of conversion entries (IFRS, local GAAP, etc)
  • Consolidation entries (goodwill, shares’ elimination, etc)
  • Intercompany process
  • Preparation of consolidated financial statements

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Improvement of consolidation process

  • Process optimization
  • Process documentation
  • Fast close
  • IT development
  • Outsourcing/insourcing

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Group reporting

  • Preparation of consolidated financial statements including footnotes and cash flow statements
  • Preparation of group operating pack for management analysis
  • Reporting to investors on specific transactions
  • Preparation of analysis and required documentation for auditors

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Training

  • Introduction to consolidation
  • Advanced consolidation matters
  • Consolidation audit approach

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Our approach

Our approach

Team

  • Extensive consolidation and reporting experience
  • Strong technical skills (Lux GAAP, IFRS, US GAAP, other GAAP, accounting treatment of financial instruments such as PEC’s and CPEC’s, INREV guidelines)
  • Reporting process experts with ability to improve existing processes
  • Fluent in English, French, German

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IT solutions

  • Use of industry-leading specific consolidation software
  • Collaborative web-based technology tools
  • Secure, easy to use and accessible anywhere and at any time by all parties
  • Project management tools enable easy tracking of compliance status
  • Able to adapt and use internal software and existing client tools

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Services

  • Structured approach to outsourcing
  • Pragmatic and solutions based approach to issues and technical matters
  • Quality services in an independent, objective and ethical manner
  • Flexible and available to meet tight deadlines
  • Access to other subject matters experts such as tax, audit and financial reporting
  • Access to EY global network of resources (175,000 people in more than 150 countries)

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Thierry Bertrand
Partner, Luxembourg Financial Accounting, Advisory and Reporting Services Leader
+352 42 124 8845

Bob Fischer
Partner, Accounting, Compliance and Reporting
+352 42 124 7526

Renaud Breyer
Executive Director, Financial Accounting, Advisory and Reporting Services
+352 42 124 8255