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Financial Statements & Reporting

In many jurisdictions, businesses need to prepare annual financial statements. This may be a local filing requirement, or perhaps to support an annual tax filing. ​

Depending on the jurisdiction, these financial statements may need to be in local language and adopt local accounting conventions. Reporting formats like US GAAP, IFRS and UK GAAP are commonly-used, but these can still pose a technical challenge for HQ finance teams.​

As well as maintaining your underlying books and records as part of our accounting services, we can prepare locally compliant financial statements.​

And you may sometimes require other non-statutory financial statements or reports, perhaps to support bank lending, a regulatory report or internal reporting and audit. Our local teams can help with these too. ​

Where there's an audit requirement, we can recommend auditors and support the audit process.

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The US Congress passed the Corporate Transparency Act in 2021 to create a beneficial ownership registry for US legal entities. The US Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, has recently issued final regulations on the act. The regulations clarify who must file information, what information they must submit and when they must file. FinCEN’s new reporting requirements go into effect 1 January 2024.
Regulators, customers, investors and employees are demanding that environmental, social and governance principles drive how organisations operate and what they report on.
To take advantage of the global talent pool, companies are increasingly offering stock equity to attract and retain employees. The equity is usually awarded at a low cost in a pre-IPO phase, and in some cases involves globally mobile employees. Granting stock options to expatriate employees can introduce important tax obligations and risks in the home and host countries that are sometimes not fully understood by multinational employers.
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