ey financial accounting advisory services - your partner in finance

Financial Accounting Advisory ServicesYour partner in Finance

This is our motto, clear and simple. It is our strategy, and it embodies the spirit of our four-box model.

How do we help clients make better decisions?By understanding them.We listen to your needs, analyse the business drivers impacting your business and help you shaping the finance tools or processes of the future. We help you by turning uncertainty about the future into certainty; we help to create and improve transparency, optimize (accounting) processes and controls, while always keeping an eye on the big picture. We stay one step ahead of regulatory changes and help clients adjust to new reporting requirements triggered by transactions. We offer bespoke solutions that we adjust to specifically address the challenges that our clients face. In short, we advise. This brochure answers the most frequent questions about our FAAS service portfolio.

EY‘s Financial Accounting Advisory Service, your partner for an effective and efficient finance department

Your partner for an effective and efficient finance departmentOur service portfolio

CFOs and finance departments are under pressure. They are more involved in Business Strategy and planning than ever before while at the same time shareholders and regulators are demanding more and more detailed information. This combination places high demands on the time and resources available to CFOs and their teams making effectiveness and efficiency critical to success.

With an effective and efficient finance function now critical to business performance, our service portfolio is aligned to assist you to address the accounting and financial reporting challenges facing their business in four key areas encapsulated under the financial accounting advisory agenda:

• Financial Accounting & Reporting Excellence• Accounting Processes & IT Enablement• Regulation, Governance & Financing• Other Audit, Attest & Accounting Services

Your Financial

Accounting Advisory Agenda

Achieve best-in-class accounting and reporting• Financial accounting excellence• Accounting compliance service

Improve your accounting through IT and process enhancement• Consolidation and

reporting• Advanced processes

and data analytics

Meet regulatory, governance and financing-related needs• Transaction accounting• Corporate treasury• Corporate governance

and regulation

Address other audit, attest & accounting impacts• Audit remediation• Data intelligence• Training services for business professionals

Achieve best-in-class accounting and reportingUnderstand the issues

Finance functions face two key issues in today’s environment:• A worldwide convergence of accounting regulations with ongoing accounting

changes creating efforts and unprecedented complexity and• Ongoing globalization and value creation strategies resulting in complex cross

border M&A activities and continuous asset portfolio management.

In order to be successful in this environment, organizations must proactively understand and assess the impact of any decisions taken on their financial performance. This includes putting increased effort into financial management such as assessing and accessing technical IFRS expertise when it is needed, and identifying the need for clear and consistent accounting policies and guidelines.

How can we help?

We typically advise clients in the following areas:• Assessing the impact of new accounting standards on their finance function and

business operations• Accelerated local GAAP and IFRS conversions• Supporting, designing and implementing accounting policies• Contract accounting support• Developing tools and solutions for implementing new accounting standards and

supporting decision-making

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Financial Agenda

Achieve best-in-class

accounting and reporting

Improver your accounting through

IT and process enhancement

Meet regulatory, governance and finance-related

needs

Address other audit, attest &

accounting Impacts

Effective and Efficient

finance department

Improve your accounting through IT and process enhancement

Understand the issues

Expanding an organization geographically or technologically adds operational complexity which implies greater cost to the business. In this context companies often rethink their approach to operations to achieve economies of scale which can increase pressure on the finance function to improve its effectiveness. Increased demands from analysts and other stakeholders mean that greater accuracy, precision and transparency from financial statements and forecasts are an expectation of the finance function of today. Further following the implementation of new IT infrastructure or new ERP modules optimization or validation of financial statement close processes are increasingly requested.

In order to achieve this best practices for accounting processes and control procedures are to be developed including related topics like shared service center concepts and outsourcing arrangements. It also requires the implementation of a common set of rules, definitions and procedures to ensure global consistency. It also means improving routine financial processes to produce accurate and up-to-the-minute financial business information.

How can we help?

EY advises clients in the following areas:• Assessing, transforming and reorganizing the finance and control function• Aligning accounting processes and harmonizing key metrics following new

acquisitions• Improving the financial statement close process, including the design and

implementation of advanced closing and reporting• Evaluating and re-designing internal controls• Accounting and financial support on consolidations

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Financial Agenda






needs


accounting Impacts


finance department

Meet regulatory, governance and financing-related needs

Understanding the issues

Since the credit crunch of 2007-09 the post-crisis economy is characterized by a growing change process across world economies. Recent turmoil around the solvency of certain Eurozone countries and budgetary challenges in large economies such as the US have created a new market dynamic whereby capital markets are expected to reflect volatility and more challenging financing conditions for some time. Both regulators and governments are looking for higher standards of corporate governance, greater reporting transparency and are placing more focus on compliance and risk management practices.

For companies these economic conditions have several practical implications. As stakeholder confidence becomes increasingly important companies must revisit the effectiveness of their corporate governance structure and communication with internal and external stakeholders. From an operational point of view, the finance function is increasingly involved in proactively managing volatility in commodity trading or raw materials market and exposure to foreign exchange. It also supports efforts to exploit alternative sources to refinance debt or raise equity in order to fund acquisitions, organic growth or restructuring.

How can we help?

We typically advise clients in the following areas:• Supporting the design and implementation of new regulatory requirements• Providing industry-specific attest services, for example in the telecom, energy

and utilities sector• Implementing a corporate treasury function• Benchmarking the corporate governance effectiveness and audit committee

oversight and enhancing the financial accounting governance process• Navigating the IPO or refinancing process, including assisting on-going stock

listing matters and financial communication

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Financial Agenda






needs


accounting Impacts


finance department

Address other audit, attest & accounting ImpactsUnderstanding the issues

Following their audit, company management often receives recommendations regarding process and control improvements, suggestions of best practices or the need for remediation of deficiencies and failures. In certain sectors or jurisdictions, in addition to the audit, companies are subject to additional statutory reporting requirements, such as net user charges or resource consumption. These efforts mostly help harmonize existing accounting processes and know-how. Often, companies require external support to augment either a lack of resources and/or technical expertise within its organization.

How can we help?

We typically advise clients in the following areas:• Supporting the remediation of audit findings• Delivering focused open house and customized client based training on financial

reporting, accounting, soft skills and related matters• Benchmarking services• Interim management in controlling, accounting and finance function.

“As business advisors our focus is on helping our clients to navigate the ever-changing accounting and reporting landscape and deliver tailored, innovative solutions seamlessly and effectively on a global scale.”FAAS team Belgium

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Financial Agenda






needs


accounting Impacts


finance department

EY | Assurance | Tax | Transactions | Advisory

About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization and/or one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

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Your EY FAAS contacts

Martine BlockxPartner+32 (0)2 774 94 [email protected]

Nicolas Valette Partner +32 (0)2 774 95 21 [email protected]

Well-equipped and with a reliable compass in hand, you can tackle any journey and reach any destination – no matter how complicated the route or how ambitious the goal. Your EY FAAS experts give you the right tools to guide your company successfully through all obstacles.