The UK subsidiary of a large international group needed support to handle day-to-day operating and regulatory requirements.
International investment and asset management group
Generates £10 billion of net revenue and holds £50 billion in assets
Headquartered in South Africa and has presence in 33 African countries, as well as the UK, France, India, and Malaysia
Listed on the Johannesburg and Namibian stock exchanges
The new and limited UK finance team of an international group was struggling to cope with its complex structure and demanding industry regulatory requirements. Even business as usual required the support of a hands-on financial adviser.
Delivering the service the client needed depended on a strong working relationship based on trust and honest conversations.
Multiple teams worked together to ensure the client had consistent access to the range of skills and experience they needed. A team never consider a transaction in isolation and always collaborated with other teams to make the right decision. When management needed to complete several small accounting projects we suggested a more cost-effective use of interim instead of outsourcing to a specialist team.
"We have showcased our ability to deliver holistic value to our client when different service lines and teams work together. Our client had confidence that we can identify and support on a range of issues without specific direction from them."
The client received support to simplify its group structure, considering the accounting, and tax consequences. We reviewed their regulatory monitoring processes to ensure efficient and accurate reporting to the regulator, and assisted on the due diligence and sale of part of the group. Throughout the engagement we supported their finance team with our own resource; across business-as-usual financial reporting responsibilities and key business priorities - ad hoc accounting support was made available as needed, including the treatment of cloud computing arrangements. Finally, we guided them through structuring their employee incentive schemes, both for tax and accounting.
Our financial accounting advisory services (FAAS) team can help you deliver on business-critical projects by providing flexible, scalable resources and financial reporting expertise. We collaborate with large corporates, medium-sized businesses and not-for-profit organisations, working with your finance team to deliver the right outcomes for you.
