Capability 05

NFRS & Financial Reporting

Present statements your auditor, bank and investors trust.

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What this work is

Financial reporting under NFRS is where many otherwise well-run businesses lose credibility. Statements are prepared to satisfy a deadline rather than to communicate, disclosures are copied forward year after year, and the first sign of a problem is a qualified opinion or a lender asking a question no one can answer.

We prepare and review financial statements under NFRS, resolve the technical questions that arise on the way, and translate the requirements into decisions the business can act on — revenue recognition, leases, financial instruments, impairment, consolidation, deferred tax.

Where a first-time adoption or a transition is involved, we plan it in advance rather than discovering the consequences during the audit.

You probably need this if

  • Your auditor has raised the same points two years running.

  • You are moving from a previous framework to NFRS and do not know what changes.

  • Revenue recognition on long contracts is being handled by judgement rather than policy.

  • A group structure needs consolidation for the first time.

  • Lenders or investors are asking for statements you are not confident presenting.

What this covers

  • NFRS implementation
  • NFRS for SMEs
  • Accounting policies
  • Financial reporting frameworks
  • Reporting adjustments
  • Technical accounting analysis
  • Financial statement review
  • Management reporting

What you get

  • NFRS financial statements

    Full statements with notes and disclosures, prepared to be read as well as filed.

  • Technical position papers

    Written support for judgements on recognition, measurement, leases, impairment and consolidation.

  • Transition plan

    First-time adoption mapped out, with the opening balance sheet adjustments identified in advance.

  • Audit readiness pack

    Working papers and reconciliations organised so the audit runs on evidence rather than on requests.

Common questions

Do you audit the statements you prepare?
No. Preparation and audit are separate. We prepare and support; your appointed auditor forms the opinion independently.
How early should we start before year end?
For a transition or a significant judgement, three months before year end. For routine preparation, at year end is workable but leaves less room for issues.
Can you work with our existing accountant?
Yes. Most of our reporting work is done alongside an in-house team or an existing accounting provider.

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