Financial Reporting Advisory (FRA) is an advisory service on specific accounting matters and for individuals preparing financial statements.

The scope of services available within FRA is wide ranging. We advise on the following accounting areas:

• Irish GAAP
• International Financial Reporting Standards (IFRS)
• The Companies Act 2009.

Within the areas listed above, there are a range of services that we can provide to our clients as follows:

• accounting opinions on the application of Irish GAAP and IFRS
• IFRS conversion projects
• accounts preparation for first time adoption of IFRS
• drafting disclosures on the adoption of individual accounting standards (eg IFRS 7 or IFRS 8)
• training client staff on specific accounting matters
• preparing technical presentations on specific accounting matters.

Financial reporting advisory solutions

The increasing complexity of financial reporting and the rapid pace of change has led to a significant increase in demand for expert accounting advice.

The financial reporting challenge is driven by developments in International Financial Reporting Standards (IFRS), with significant changes across many areas starting from the 2009, and further waves of change expected in the coming years. Key topics include financial instruments, segment reporting, borrowing costs, share-based payment and business combinations. Many of these changes also apply for entities continuing to adopt Irish Generally Accepted Accounting Principles (GAAP) and the standards convergence process is also well under way. Our focus is on providing technical accounting advice to our clients that is practical and commercially astute.

The need for financial reporting advice is often driven by wider concerns, such as mergers and acquisitions, IPOs, significant system changes and new products or business strategies. Working as part of a multi-disciplinary team, we can provide seamless project support, incorporating financial reporting advisory solutions to our clients.

Financial Reporting

In a world of ever evolving accounting standards, our experienced team of professionals can help ensure that your financial reporting obligations are fulfilled. BDO has considerable depth of knowledge across all forms of financial reporting, including Irish/UK GAAP, IFRS and US GAAP. We can draw on the experience of our colleagues globally to help ensure that your financial reports are compliant and truly reflect the business of your company.

We are very prominent within our profession and have a wealth of experience with regulated businesses which is underpinned by our sector specialist approach. We are uniquely placed to provide advisory and assurance services to regulated businesses in order to help manage regulatory risk.

• A deep understanding of current and future regulatory requirements.
• Assurance that regulatory requirements are met.
• Independent assurance of regulatory and financial reporting, including audit of regulatory reporting and compliance.
• Assistance in developing appropriate corporate governance.
• Advice and assistance in becoming authorised by a regulator.
• Benchmarking of compliance processes, internal control and quality of reporting.