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IFRS Services for UK Companies and groups

International reporting requirements can create significant pressure on finance teams, particularly when UK statutory accounts, overseas group reporting and audit deadlines all need to align.

Accendo provides IFRS services for UK companies, subsidiaries and groups that need experienced support with financial statement preparation, reporting requirements and complex accounting matters. We work with finance directors, financial controllers, business owners and internationally connected organisations that need their reporting to be technically sound and supported by appropriate working papers.

Our work can cover complete IFRS financial statements, conversion from another accounting framework, group reporting requirements or targeted support with specific accounting treatments. Where wider year-end support is required, our accounting team can coordinate the underlying financial information without blurring the purpose of the IFRS engagement.

IFRS reporting support built around your requirements

The right scope depends on why your business is reporting under IFRS and where the technical pressure sits.

A UK subsidiary may need to align its reporting with an overseas parent. A growing group may be considering a move from UK GAAP. Another finance team may already report under IFRS but require additional support with an acquisition, lease portfolio, revenue arrangements, impairment assessment or other significant accounting judgement.

Accendo can provide support with:

  • Preparation of IFRS financial statements and supporting schedules
  • Conversion from UK GAAP to IFRS
  • Review and development of accounting policies
  • Group reporting packages for overseas parent companies
  • Accounting for revenue, leases and financial instruments
  • Business combinations, goodwill and impairment considerations
  • Foreign currency and intercompany reporting issues
  • Preparation of accounting papers for significant judgements
  • Financial statement disclosures and presentation
  • Coordination with management and external auditors

Where an IFRS issue affects the year-end audit, our audit experience helps us understand the level of evidence, documentation and support that may be expected during the reporting process.

Practical IFRS support for finance teams

Technical accounting advice is most useful when it can be implemented.

Accendo works from the underlying transaction, contract or reporting requirement through to the accounting conclusion, journal treatment, financial statement presentation and supporting documentation. This helps finance teams avoid receiving a technical answer that still leaves them responsible for working out how it should be reflected in the accounts.

For businesses operating within international groups, we can also help reconcile UK entity information with group policies, reporting instructions and consolidation requirements. Where management needs wider financial oversight alongside reporting support, our CFO services can provide additional senior finance input.

A controlled approach to IFRS reporting

Our IFRS engagements typically begin by confirming the reporting framework, deadlines, group requirements and areas requiring judgement. We then identify the information needed, analyse the accounting treatment and document significant conclusions before they are incorporated into the financial statements or reporting pack.

This approach is particularly valuable where a business is changing framework, entering a significant transaction or working to a compressed group timetable.

Accendo works with established UK businesses, subsidiaries and groups that value experienced technical input and defined responsibilities. Where reporting decisions connect with wider business plans, funding or organisational change, our advisory team can support the commercial considerations separately from the financial reporting conclusion.

Discuss your IFRS reporting requirements

Whether you need complete IFRS financial statements, conversion support, assistance with an international group reporting package or advice on a specific accounting issue, speak to Accendo about the reporting requirement, timetable and current position.

We will identify the likely scope, the information required and the appropriate next step before detailed work begins.

Frequently Asked Questions

 

IFRS services provide specialist support to companies preparing financial statements or other financial reporting under International Financial Reporting Standards. For UK statutory reporting, this may involve UK-adopted IFRS, depending on the company’s reporting requirements and circumstances.

 

For UK businesses, IFRS reporting may arise because the company is part of an international group, has specific statutory or stakeholder reporting requirements, or has chosen to prepare its accounts under IFRS to align with its parent group or wider reporting framework.

 

A business may also require IFRS support when its internal finance team can maintain the accounting records but does not have the capacity or specialist technical experience to resolve more complex reporting questions. In those circumstances, Accendo can work alongside management rather than replacing the existing finance function.

 

The scope can range from preparing a complete set of financial statements to dealing with one particular transaction or accounting judgement. Businesses needing broader year-end preparation alongside specialist IFRS work can also use Accendo’s accounting support where appropriate.

 

The important distinction is that IFRS services focus specifically on the international reporting framework and the accounting conclusions required by it. Routine bookkeeping, general ledger processing and day-to-day accounting are separate activities.

 

Accendo therefore agrees the IFRS requirement, reporting deadline, information available and responsibilities at the beginning of an engagement so that management understands exactly what support is being provided.

 

Yes. IFRS services can support companies moving from UK GAAP or another reporting framework to UK-adopted IFRS.

 

Conversion should normally be treated as a planned reporting project rather than simply changing the format of the year-end accounts. Existing balances, accounting policies, previous transactions and disclosures may need to be reconsidered under the new framework.

 

Accendo can help management identify the areas affected by the change, prepare or review relevant calculations and determine how adjustments should be reflected in the financial statements. This may involve reviewing revenue arrangements, leases, financial instruments, business combinations, impairment, deferred tax or other areas relevant to the company.

 

The process also needs to connect with the company’s wider statutory reporting. Our audit team understands the importance of maintaining appropriate evidence and documentation where the converted figures will subsequently be audited.

 

For an internationally connected business, conversion may also be driven by the reporting framework used by a parent company. In that situation, the objective may be to improve consistency between local statutory reporting and the information submitted to the wider group.

 

The precise work required depends on the existing framework, transactions undertaken by the company and reporting expectations of management, shareholders and other stakeholders.

 

Yes. Accendo’s IFRS services can include support for UK subsidiaries that need to submit financial information to an overseas parent or international group.

 

Group reporting frequently involves more than sending a local trial balance to the parent company. The UK entity may need to follow specific accounting policies, map its accounts into a group chart, prepare additional disclosures or provide information using a reporting package designed by the parent.

 

Differences between the local accounting framework and group policies may also require adjustment before the information can be consolidated.

 

Accendo can work with the UK finance team to understand the parent’s instructions, reporting timetable and material accounting requirements. We can then assist with mapping, adjustments, supporting schedules and completion or review of the reporting information within the agreed scope.

 

Where the reporting package feeds into consolidated financial statements, management may also need to consider intercompany balances, foreign currency issues and other group adjustments. Accendo’s broader services allow relevant accounting, tax, audit and advisory work to be coordinated where separate support is genuinely required.

 

The aim is to give the UK company a reporting process that connects its own records with the requirements of the international parent without creating unnecessary duplication.

Well-prepared IFRS reporting should leave a clear trail from the original transaction through to the accounting conclusion, journal entry, financial statement presentation and disclosure.

This becomes particularly important when an area involves significant judgement.

For example, an auditor may need to understand why management selected a particular accounting treatment, what evidence was considered, how assumptions were developed and whether the treatment has been applied consistently throughout the financial statements.

Accendo’s IFRS services can include preparation of calculations, supporting schedules and accounting papers for significant matters. The level of documentation should reflect the complexity and significance of the issue rather than producing unnecessary technical material.

Where another firm acts as external auditor, Accendo can work with the client’s finance team to prepare information and respond to reasonable accounting queries within the agreed scope. Our own assurance experience helps us understand why technically significant areas benefit from proper supporting evidence before audit fieldwork begins.

Management remains responsible for the financial statements and accounting decisions. The purpose of specialist IFRS support is to give management a stronger basis for making and documenting those decisions.

Addressing difficult accounting questions before the audit can also reduce the risk of significant reporting issues being identified late in the year-end timetable.

Yes. An IFRS engagement does not always require Accendo to prepare the complete financial statements.

Finance teams often need targeted assistance with a particular transaction, accounting policy or area of judgement.

This might involve revenue recognition, lease accounting, financial instruments, impairment, provisions, foreign currency transactions, business combinations, goodwill or other reporting matters relevant to the company’s circumstances.

The engagement normally begins by understanding the underlying commercial arrangement rather than looking only at the accounting entry. Contracts, agreements, calculations and other supporting evidence may need to be reviewed before the appropriate treatment can be determined.

Accendo can then document the conclusion and help management reflect it consistently within the ledger, financial statements and disclosures.

Complex transactions can also affect tax, cash flow and future business decisions. Where separate commercial or financial planning support is needed, our advisory services can consider those wider issues without confusing them with the technical IFRS conclusion.

This focused approach can be particularly useful for finance directors and controllers who already have a capable internal team but need additional technical capacity for an unusual transaction or reporting issue.

General accounting services cover a much wider range of financial reporting and accounting activities. IFRS services are specifically concerned with the requirements of International Financial Reporting Standards and the financial reporting decisions that arise under that framework.

A company’s routine accounting records may already be maintained internally or by an external provider. Those records provide the underlying data, but they do not automatically determine how a complex transaction should be recognised, measured, presented or disclosed under IFRS.

That is where specialist reporting support becomes relevant.

For example, a finance team may be able to produce an accurate trial balance but require assistance assessing a significant lease, acquisition, impairment calculation or conversion from another accounting framework.

Accendo deliberately separates this specialist service from its wider accounting offering so businesses can engage support at the appropriate level.

The IFRS page is therefore intended for established businesses, subsidiaries and groups facing an international reporting requirement or technical accounting issue rather than businesses simply looking for general bookkeeping.

Where the reporting work forms part of a wider finance requirement, Accendo can coordinate relevant services while keeping responsibilities and deliverables separate.

Some businesses need IFRS assistance for a single project, while others face recurring reporting requirements throughout the year.

A UK subsidiary may submit monthly, quarterly or annual information to an overseas parent. A growing group may regularly enter new contracts or transactions requiring technical review. Another company may want access to additional reporting expertise when its internal team encounters an unfamiliar accounting issue.

Accendo can agree an appropriate scope based on the frequency and complexity of those requirements.

Ongoing support might include reviewing significant accounting matters as they arise, helping maintain accounting policies, assisting with reporting packs or preparing year-end financial statements and supporting schedules.

The arrangement should remain proportionate. Businesses should not pay for a broad advisory service where they only require occasional technical input.

Where management also needs forecasting, financial analysis or senior-level decision support, Accendo’s CFO services can address those requirements separately.

For established groups, this distinction helps keep technical reporting, compliance and commercial finance responsibilities clear.

If your business is reviewing its reporting framework, preparing IFRS financial statements or dealing with a significant accounting matter, Accendo can first assess the requirement and agree whether a one-off project or ongoing IFRS support is the more appropriate solution.

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I would like to thank you for the exceptional services provided. The dedication and expertise displayed by the team have been nothing short of fantastic. Your assistance has been invaluable, and the quality of work delivered has consistently exceeded our expectations.

Carol
As a medium-sized company, we have found, Accendo, to be an invaluable partner in navigating the complexities of accounting, financial reporting, and tax compliance. The team at Accendo consistently demonstrates a high level of professionalism, efficiency, and expertise in their services. Their in-depth knowledge and understanding of our business have been instrumental in helping us manage our financial operations effectively. They have a unique ability to identify and address our specific needs, offering tailored solutions that add significant value to our business. Furthermore, we have been particularly impressed with their responsiveness and commitment to our success. Accendo has consistently gone above and beyond to ensure that we receive timely and accurate advice, enabling us to make well-informed decisions and maintain compliance with all relevant regulations. Their unwavering dedication to providing exceptional services has not only helped us achieve our financial goals but has also given us the confidence to pursue new growth opportunities. We wholeheartedly recommend Accendo to any business seeking a reliable and knowledgeable accounting partner.
Integrated Technology

We recruited Accendo to run our Audit this year, our accounts are complex and we have a huge amount of restricted projects running. Asif and his team were very approachable, professional and completed our audit to our tight deadlines. I highly recommend Accendo and we will be using them for future audits.

Rosie Wren

I have used Accendo as my company auditor for a few years now. Communication is always clear and helpful, I feel audited at the end of the process, in a positive way, and they keep to any agreed timetable. I definitely recommend them.

Wendy Courtenay

We have been working with ACCENDO for the past three years. As auditors of our business MPDFM, we found them to be a very professional audit firm.

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