Stats as a Service: compliance made easy

Support with the preparation of statutory accounts not only ensures compliance but gives finance directors and financial controllers time to concentrate on the running of their business.

Understanding you

Statutory accounts preparation for many finance directors or financial controllers of limited companies and groups, present an unwelcome challenge. The challenge mainly arises from changes in accounting standards, disclosure requirements, and legislation.

During, or shortly after the auditor's fieldwork, which involves a substantial amount of time compiling their audit pack of information and requests, the next question for finance directors is:

When is your first draft of the statutory accounts going to be available?

The ever changing auditor ethical and independence requirements may mean that this is the first time your auditor has asked you to draft your own statutory accounts with the help of a set of proformas.

Outsourcing statutory accounts preparation could be a solution to these challenges for you.

How can we help you?

To assist finance directors or financial controllers in drafting their statutory accounts our statutory accounts service includes:

  • Use of specialist accounting software to deliver a high-quality set of statutory accounts, derived from your year-end management accounts.
  • Providing you with a disclosure pack to be completed for relevant disclosures in the statutory accounts.
  • Liaising with you on the content of the narrative reports (strategic and directors’ reports).
  • Assistance, where required, on accounting treatments and disclosures.

The use of specialist accounting software also allows efficient iXBRL tagging of the statutory accounts and avoids the need for accounts in Word or Excel to be manually tagged, often at a significant cost.   

Helping you achieve your goals

By working together:

  • The hassle of preparing your statutory accounts is taken away.
  • You are provided with a high-quality set of compliant statutory accounts.
  • Your timelines are met to fit in with those of your auditor.

Making a difference

We have significant experience with:

  • UK GAAP (FRS 101 & FRS 102).
  • EU-adopted IFRS (for December 2021 year ends this will be UK-adopted IFRS).

We agree timelines with you and stick to those. We can also provide you with assistance on IFRS conversion.

Outsourcing your statutory accounts

Testimonial from Deb Wallbanks, Chief Commercial Controller

"Hazlewoods accountants have supported the business in producing the statutory accounts for filing. The expertise and knowledge of the team at Hazlewoods was impressive and the service support and turnaround of information to complete the accounts was particularly worthy of note. Technical knowledge was first class and this service made the audit with a top firm a much smoother task."

Testimonial from Sebastian Marlow, Group Financial Controller

"Hazlewoods were engaged to prepare the statutory financial statements for the UK group for the first time in FY20. We are a large and complex multi-national group of 40 companies with seven distinct finance teams and annual turnover in the region of £850m - we are by no means a straightforward client. Hazlewoods got on top of the structure and built effective relationships with surprising speed, garnering positive feedback from all divisions as well as from the central team."

Content image: /uploads/team/unknown.jpg Julian Gaskell
Julian Gaskell
Associate Partner
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