Accounting and Reporting Advisory Services

Challenge:

Embedding new accounting standards and regulations often has a broader impact on the organisation than just a change in accounting and reporting requirements - it leads to a change in daily operations and even an impact on the reported profitability of the business.
 

PwC Solution:

End-to-end solutions for implementation of financial reporting standards and ensure to address the three-pronged challenges: technical accounting, IT processes and expertise that keeps a pulse on the changing industry.

Challenge:

1. Financial institutions rely heavily on financial models for a wide range of applications, such as IFRS 9 ECL reporting and fair valuation. As part of the risk model governance process, model validation is crucial and complex to perform.
2. Risk reporting is a key component of the governance process to ensure the effectiveness of risk management. 

PwC Solution:

1. We assist organisations with independent model validations for a wide range of model types and also perform a comprehensive testing of these models using pre-developed processes and methodologies to ensure that functionalities remain aligned with design objectives and business uses.
2. We provide end-to-end solutions to support organisations in the implementation of risk reporting. 
   • Provide PMO support to the implementation project
   • Support management to prepare user requirements and vendor selection
   • Support management during the design, implementation and testing phase
   • Conduct training/workshop to ensure knowledge transfer to all relevant stakeholders 
   • Support management for quality assurance

Challenge:

1. Accounting and financial reporting for business events or transactions such as the following are just a few of the many complex accounting issues that may arise in your day to day business, including and not limited to:
   • Distinguishing between equity and liabilities for the recognition of complex financial instruments.  
   • Stock based compensation
   • Revenue recognition 
   • Capitalisation of intangible assets
2. Business sometimes face the following situations as well:
   • Accounting regularity
   • Dispute with other parties such as a supplier, a customer, a regulator where financial issues are key
   • Suspected accounting fraud

PwC Solution:

1. Mapping a holistic approach, PwC ensures the consideration for financial reporting, its implications and communication with shareholders to identify the key impacts of the transaction.
2. With our expertise in accounting and financial reporting, PwC can provide accounting support for dispute analysis and investigation. We help conduct investigation and provide accounting support to business encountering dispute in their commercial transaction. 

Challenge:

Even in seemingly straightforward M&A transactions and non-controlling investments, there are complex issues that may arise - such as accounting and financial reporting for common control transactions and distinguishing between equity and cost-method investments.
 

Solution:

PwC assists with providing accounting support during the M&A process. We advise you on the consideration and potential financial implications of M&A, and other complex accounting issues arising from M&A such as goodwill and impairment. 

Accountants have to keep up to date not just with changes in accounting standards, but also understand the financial reporting impact arising from other regulatory changes and macroeconomic headwinds.

Learn more about PwC's IFRS updates seminars

Intelligent automation is revolutionising the business landscape as we know it: leading organisations are looking at gaining sustained advantage with financial automation - a powerful way to reduce costs whilst improving controls, quality and scalability.
 

Read more about our financial automation offerings