Situation
A newly established group of companies required comprehensive support with the development, definition and day-to-day management of its Finance Department. Key areas of focus included: adequate resourcing of the CFO office, instituting finance policies and drafting technical IFRS papers tailored to their specific needs.
Solution
PwC supported approximately 100 members of the Group’s Finance department over a period of 22 months. During this time, PwC guided the client to timely execution of monthly and quarterly financial reports and successful preparation of annual IFRS compliant financial statements. PwC also provided thorough IFRS position papers on crucial areas such as going concern, impairment, investments and the decommissioning of assets.
To ensure the Finance department’s sustained growth and development, PwC supported the creation of: the charts of accounts; policies and procedures to govern the operations of the department; relevant job descriptions; KPIs; and performed in-depth internal control reviews.
Impact
With our help, the company was able to establish a fully functional and high performing Finance department, which enabled them to consistently meet financial reporting deadlines - a key component in enhancing their relationship, in particular with international lenders.
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