Multi-country financial reporting
Completing statutory and non-statutory reporting, for each country you operate in, can be an intensive and challenging job. Finalising the required financial statements, to a variety of local practices, is often a significant and time-consuming burden for multinational businesses.
Our flexible service delivery model allows us to work in a manner best suited to your needs. We can cover everything from supporting you in your journey towards creating your own financial reporting hub to delivering a fully outsourced solution.
RSM’s Global Financial Statement service
Our Global Financial Statement (GFS) team combines central and local country expertise to prepare globally consistent local financial statements. The preparation process is automated via the Thomson Reuters OneSource platform (the TR tool), which supports reporting requirements for more than 40 countries.
The GFS team also works closely with our UK Financial Reporting team, as well as other firms from the RSM International network. This collaboration enhances our ability to:
- quickly and accurately prepare financial reports and statements;
- address complex local accounting topics and GAAP knowledge; and
- stay up to date with the implementation of new accounting standards.
How we will work with you
1. Conduct scoping
Initially, we will need to understand the scope of work required for each location and any other local or industry specific requirements. This will allow us to assess the type of entities involved and their level of complexity, so we can provide the appropriate level of service throughout.
2. Complete set up
Once the initial scoping is complete, we will create country reporting templates for your organisation. Using the TR tool, we can:
- design your financial statements at different levels;
- understand and validate GAAP adjustments; and
- consult with RSM International member firms on local GAAP accounting requirements.
3. Prepare financial statements
After the TR tool set-up, we’ll use the tool to draft financial statements for all of your legal entities that fall within scope.
4. Review and approvals
Once we’ve published your draft financial statements, they will be reviewed by an experienced manager and cross-checked by experts at the relevant RSM International member firms.
5. Deliver additional services
During the initial scoping, we may identify other RSM services that your business would benefit from, such as translation, e-filing or local regulatory updates.
6. Identify process improvements
Throughout this process, we will continuously review of our performance and consider any opportunities for further improvements.
To discuss your business needs and find out how our GFS team can help, please contact our Associate Director Paulina Redel.
Find out more about our flexible service delivery model