We provide Business Advisory Services in all the different areas which relate to financial accounting where we can use our sound expertise and experience for the benefit of our clients. We provide our advisory services for domestic and international medium-sized businesses as well as international group companies.
We will support you in various projects, such as:
Conversion to International Financial Reporting Standards (IFRS/IAS)
We will analyse your current accounting practices and identify potential differences to the rules as set out in the IFRS/IAS, develop accounting rules for your specific circumstances and support your implementation process. This includes support in developing tailor-made adjustments to the current procedures as well as training of your employees.
Improvement of the quality of the financial data
Financial data is directly or indirectly the basis of business decisions as those use analyses of historical data (margins, cost structure) for investments in tangible and intangible assets, setting of the product portfolio and sales prices on base of production costs and margins or the management of branches/factories of the company. This requires i.e. the review of determining production costs and the inventory management system as these areas usually have a major influence on the economic performance of the business. Teaming up with your responsible employees we will identify strengths and weaknesses of your applied procedures and assist you in the implementation of the identified changes.
Advice for the improvement of the internal control system
An internal control system aims to ensure the reliability of the needed data used in the decision making processes but should avoid unneeded “bureaucracy”. Most business processes impact the financial accounts as they all relate to expenses or earnings. Therefore, understanding the business processes is part of the analysis of their accounting. Based on the findings and management's expectation regarding the quality of the financial data we support the development of adequate measures for the improvement of the internal processes and the related controls. If required, we consider the specific requirements for companies which have to comply with the regulations of the SOX 404 or prepare for audits such as ISAE 3402, SAEE 16 or IDW PS 951.
Transaction Services: Acquisition of a business
We perform Financial and Tax Due Diligence procedures which include the analysis of the financial statements and the business plans of the target business in order to identify deal breakers as well as financial and tax risks. We team up with your representatives and other advisors who cover areas such as commercial, technical, environmental or legal matters.
Transaction Services: Selling a (part of a) company or other changes of ownership
We analyse the annual accounts and the business plans for the planned transaction and support you with the compilation of the data needed. We will support you in the preparation of the sales process with respect to the financial and tax aspects and risks by agreed-upon procedures within the context of a “Vendor Financial and Tax Due Diligence").
Implementation/Development of a risk management system
We consult you in the identification of risk, risk analysis and development of risk management measures and assist you with the implementation and documentation of the risk management system.