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.