Outsourced accounts preparation service
The preparation of your annual financial statements can be a costly and time-consuming process for your finance team.
Once the year-end procedures have been finalised and the main audit process is running smoothly, too often it is the financial statement preparation process, using Word or Excel that diverts the resources of your finance team.
Your auditors will tell you that, no matter how efficiently they carry out the audit, the most inefficient process is the review of multiple drafts of financial statements.
At Fiander Tovell, our outsourced accounts preparation service can help you tangibly reduce the cost of compliance and improve the efficiency of this process by easing the administrative and financial burden that comes with preparing your statutory financial statements.
The benefits of outsourcing your accounts preparation function to us include:
Compliance
Reporting standards (Companies Act; IFRS; UK GAAP; FRSME) are regularly changing and the complexity of reporting increases year on year. As things stand, UK GAAP as we know it may not exist after 2013. We can ensure that your annual accounts are produced in accordance with all the latest applicable reporting requirements.
We can discuss and agree with you appropriate disclosures where alternative treatments are available.
Freedom
The most significant benefit to your organisation is the freedom available to your finance team to focus on the business and internal management.
There is no need to spend time updating Word or Excel files for change in legislation or disclosure requirements or expensive and time-consuming training on accounts update courses.
Efficiency
You will be able to provide “final draft” financial statements to your auditors prior to the commencement of the audit process. Any potential adjustments will only be related to matters arising from the audit which should significantly reduce any changes.
If required, we can liaise directly with your auditors to update the financial statements for any agreed audit adjustments or other changes and we will provide you with a reconciliation of all updates.
Value for money
We have a competitive pricing structure. Contact us to arrange a scoping exercise and quotation.
By providing high quality draft accounts to you and your auditors, you are helping to reduce their accounts review costs and processes, savings which could be passed onto you.
Quality
We are a long established firm of chartered accountants, preparing financial statements for a large portfolio of incorporated clients.
We carry out a multi-layered compliance review on every set of financial statements we prepare.
We can agree with you the level of statutory compliance review required to dovetail with your existing audit service providers.
To find out more about our outsourced accounts preparation service, please contact us to arrange an initial consultation.
