If a foreign company does not have a large office in Belarus and the functions of cost centers are fully or partly outsourced, outsourcing of IFRS reporting is a reasonable option.
How can we assist you?
If your company has decided to outsource IFRS reporting, we are ready to deliver the following services:
- Preparation of stand-alone IFRS financial statements on a monthly, quarterly and annual basis;
- Preparation of financial statements packages for consolidation purpose on a monthly (including "fast close"), quarterly and annual basis;
- Support of international audit of IFRS financial statements.
Reporting is the foremost process that requires adhering to the four-eye principle. That is why no less than 2 employees should be engaged in this process. Keeping them on a full-time basis can be economically unreasonable taking into account reporting infrequency.
Our approach to IFRS reporting outsourcing
We use proprietory software, which allows:
- obtaining efficient internal control system for IFRS reporting;
- providing explanations on financial statements to a company's local and foreign management and to auditors at short notice;
- having time reserve in terms of fast close, which, in turn, allows meeting strict deadlines for financial statements providing;
- implementing the process of IFRS reporting in the company if its management decides to set up in-house IFRS reporting.
We are a partner to all the stakeholders and are ready to communicate with financial controllers from parent companies and international external and internal auditors regarding IFRS reporting issues.