Despite signs of recovery, today’s economic environment remains uncertain. As companies continue to seek growth in developed and rapid growth markets, challenges clearly remain.
You need to continue keeping a close eye on costs and carefully manage cash flow. You also face an increasingly complex and rapidly changing regulatory environment, in which changes to accounting guidance can impact business decision-making. And you need to anticipate the impact of key business decisions on your accounting and financial reporting.
Companies often struggle with effective management oversight, cost pressures and growing regulatory requirements. Many have difficulty monitoring all their methods and controls.
Financial Accounting Advisory Services (FAAS) comprises a multidisciplinary team of accounting, tax, and IT professionals with deep, sector-specific experience in managing the implementation of accounting changes, ranging from a single accounting standard to the full project planning and global implementation of IFRS. We help CFOs, audit committees, treasurers, and other top financial executives understand the pending changes and assess the impact on their companies.
Our Financial Accounting Advisory Services practice provides assistance on critical issues arising from changes in accounting standards and regulatory requirements, new business activities and business acquisitions.
Our Financial Accounting Advisory Services professionals advise leading organizations on technical accounting and financial reporting issues, including:
- Complex issues arising from proposed new accounting guidance, including impacts on existing systems and processes
- Enterprise-wide accounting policy frameworks and documentation
- Streamlining financial processes and controls, including developing and/or integrating processes as part of finance transformations and ERP implementations
- Accelerating GAAP, IFRS, and IPSAS conversions
- Remediation of control accounts and material weaknesses
- Accounting for financial derivatives and commodities contracts
- Rationalizing statutory reporting processes
- Developing tools for implementing new accounting standards and facilitating decision-making
Our Financial Accounting Advisory Services professionals aslo can help companies to:
- Assess, transform and reorganize your finance and control functions
- Align accounting processes following new acquisitions
- Improve the financial statement close process
- Evaluate and redesign internal controls
- Provide accounting support on consolidations
- Assist with the accounting for tax-reporting