Whether you have a UK company which is a subsidiary of a foreign company, or a UK parent with foreign subsidiaries, we have the expertise you need.
UK Subsidiaries of Foreign Companies
Current best practice and corporate governance may prevent a company’s auditors from providing accountancy related services to its clients. This applies particularly to listed PLCs, including UK subsidiaries of foreign companies.
“Our clients in this sector find our contribution refreshing and valuable. We take away the rigours of monthly reporting to the parent company, assist in the preparation for their audit and provide the business with technical accountancy support for their day to day accounting – in most cases, they hit a brick wall when asking for these services from their auditors for various reasons.
We also find that our clients find our approach and ideas very practical and our work of great quality. This is all down to the fact that our team members are trained to deal with bookkeeping and accountancy as part of their day to day work due to the nature and size of our typical client.”
Peter Bonnell, Senior Partner
We are very pleased to be able to offer the following services to you:
- Preparation of regular management accounts;
- Technical accountancy and taxation support;
- Assistance to your internal audit function;
- Other ad-hoc accountancy support including review of internal controls, preparation of year end audit files, business consultancy and tax advice.
Alternatively, your UK company may require a local auditor to conduct audit compliance and report to your group auditors. We can provide our value-added audit services along with component audit reporting.
UK Parent Company of International Group
If your UK company has international subsidiaries, we have the experience and expertise to conduct a group audit. We will liaise with your local component auditors to ensure the group audit is conducted efficiently and thoroughly. Our team can also audit international components of your group directly, saving reporting time.
We have the experience and contacts that enable us to gain assurance over the financial records of your overseas components. Whether it be using our hand-picked international group of professional advisors (the International Practice Group) or using International Auditing Standards that enable us to carry out the necessary audit work from the Parent Company’s perspective, we can guide you and streamline the entire group audit and consolidation process.
It has also been our experience that certain of our client’s overseas companies were being audited by local auditors in their local jurisdiction but, upon review, this was not necessary. As group auditors we performed the audits directly, thus saving unnecessary time burdens and administrative expense, but still adhering to local reporting requirements and maintaining the quality of audit work required for the UK Parent company and for UK Auditing Standards. Here at Barnes Roffe we can offer such high level services for your group.Talk to Barnes Roffe today Barnes Roffe has tried to ensure that the contents and information it provides in its website is accurate at the time of posting. Unfortunately it cannot guarantee the accuracy of contents or information contained in its pages and any person choosing to act on this information should contact a Barnes Roffe partner prior to taking any action