Service For Listed Companies
Why You Need the Best
In today’s financial markets in Hong Kong, it is of utmost importance that finance professionals and their advisers work side by side with accounting specialists like FAL practitioners, who are experts in application of accounting standards, to properly identify, evaluate and resolve significant accounting issues before entering into major transactions such as M&A acquisitions, issuance of securities, etc.
In the light of the complexity of accounting standards today as well as complexity of transactions, it is essential that corporates either employ full time experienced technical accounting specialists, or engage accounting experts like us, to assist their CFOs and finance directors.
Accounting Consultations
Many companies undertake complex transactions, for example issuances of financial instruments, group restructurings, M&A acquisitions and disposals, etc. The accounting implications of such transactions are often difficult to understand for finance professionals who are not technical accounting specialists. Our Accounting Consultation services can help you understand and evaluate the accounting impact of these transactions
Litigation Support
As accounting experts, we can provide general litigation support services, including assessment of disputed transactions and their effects, identification of documents to be requested through the discovery process, as well as general strategic litigation advice, critical assessment of the reports of other experts and assistance to Counsel for cross-examination.
In addition, we can act as expert witness to assist the Court or other tribunal in understanding accounting, auditing or other issues related to our profession, and to provide evidence on the appropriateness of accounting treatment and recording of complex transactions or the estimations of the loss or damage suffered.
Responses to Regulators’ Queries
In today’s environment, it is not uncommon for listed companies to receive letters from regulators enquiring about or investigating into possible irregularities or errors in their financial reporting and the appropriateness of financial reporting matters. We can assist the companies to respond to the matters raised in these enquiry or investigation letters and queries using sound technical reasoning and arguments.
Technical trainings for Audit Committee members and CFO and his/her finance team
We have conducted many technical trainings, workshops and seminars on accounting and other financial reporting matters in Hong Kong and elsewhere in the Asia Pacific region to auditors, listed companies in Hong Kong and regulators in Hong Kong. Our training programme for the listed company will be specially tailored to ensure that the audit committee and finance team members will have a good understanding of the current accounting standards and how those standards would impact their organization. We will ensure that the audit committee and finance team members gain knowledge which are essential for them to perform their functions in today’s increasingly complex financial reporting environment.
Technical Reviews of Listed Companies’ Financial Statements prior to their Issuance
We can ensure the technical excellence of financial statements of the listed companies will be of the highest technical quality by applying our in-depth knowledge and wide ranging experience in dealing with significant accounting issues and the related financial reporting issues to contribute significantly to the technical quality of the financial statements. Specifically, we will draft, or review the working draft of, the financial statements of the listed companies and identify the significant accounting and financial reporting issues which arise from such reviews. We will then discuss with the finance team about the presentation and disclosures in the financial statements in relation to these issues.
New Standards Implementation
We can help companies assess the impacts of new or revised accounting standards.
GAAP Conversion
Listed companies which have consummated acquisitions of companies overseas will find our GAAP conversion services crucial for meeting their reporting requirements under Hong Kong (or International) Financial Reporting Standards. We will analyse the financial statements of subsidiaries or target companies prepared under several different GAAPs adopted by the overseas operations, help evaluate the major areas of GAAP differences from HKFRSs (or IFRSs), assist in developing reporting packs for these overseas operations to report to their head office (the Hong Kong listed company) to account for the differences, etc.