With subsidiaries often in different countries to their holding company, financial reporting back to the group holding company can be complex. Each subsidiary will need to meet the financial reporting standards of their own country so a Chinese subsidiary, for example, will have different compliance needs to their holding company in the EU; Italy for example.
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We can help you establish accounting and ERP systems for all internal reporting whilst being sympathetic to the compliance needs of each location. Mapping of accounts can usually achieve this automatically.
Performance measurement and assurance
There is also the need to measure performance and internal compliance. By establishing Key Performance Indicators (KPIs) across the group, linked to internal audit processes, it can be relatively easy to identify issues before they become real problems.
Contact us for a conversation about how we can help you establish systems which provide you with the assurance your group needs. This may include a review of location and procurement opportunities as well as tax planning.