The heightened economic uncertainty and risk caused by the COVID-19 pandemic and the wave of digitization transforming the business landscape may have significant financial reporting consequences on businesses.

Considering these new challenges, strategic business reporting requires companies to consider the perspective of investors and other stakeholders. This means analyzing and interpreting information, explaining how transactions impact the financial statements, or explaining accounting treatments and disclosures.

P&A Grant Thornton provides financial reporting advisory services to help companies successfully navigate the complex financial requirements in a broad range of scenarios.

Sub-service lines:
GAAP conversion

We assist companies with conversion of financial statements from one Generally Accepted Accounting Principle (GAAP) to another. We facilitate end-to-end transition and smooth handholding to the new reporting framework.

Financial statement preparation/compilation

We prepare GAAP-compliant financial statements and assist clients in dealing with accounting complexities and frequent changes in accounting standards.

Accounting manual

We offer an in-house developed accounting policy manual that is robust, dynamic, detailed as well as flexible and consistent with current accounting processes and best practice.

Group consolidation

The consolidation process has multiple challenges, specifically when dealing with different reporting formats and methods used by different group entities. Our consolidation solutions make sure that your consolidation process is as streamlined as regular financial reporting. We offer an in-house developed consolidation tool as well as professional services to prepare a structured set of consolidated financial statements.

New standards implementation

Our team of professionals’ tracks developments in accounting standards from the exposure draft stages and prepares for their implementation long before they are applicable. We help companies prepare for these new accounting changes and implement them.

Transaction accounting

Complex transactions often require documented analysis, GAAP interpretation and some judgement. Our team of professionals deals with such transactions regularly. We offer our transaction accounting services for specific needs of companies which have either entered or are contemplating entering a complex transaction.

IPO support

We assist in preparing historical financial statements for inclusion in prospectus, including retrospective restatement/ GAAP conversions and pro forma effects of proposed business combination transactions.

Risk modeling

The adoption of a wide range of risk models has been prevalent in industries where calculated risk taking has been an integral aspect of its business. We provide public and private organizations with risk modeling specifically for implementing IFRS 9’s Expected Credit Loss (ECL) Model and model validation services.

Hedge advisory

We help clients apply hedge accounting in complex transactions, allowing them to reflect the risk management strategy in their financial reporting. We have integrated our hedge accounting advisory solutions with our in-house valuation practice to provide an end-to-end solution to our clients.