Consolidation

In partnership with the firm ofExenco, we guarantee your consolidation missions.

Services

  1. Drafting consolidated accounts under IFRS/ French norms

    This is the most traditional mission and the oldest one accomplished by our firm.

    It consists in entrusting us with a complete draft of consolidated accounts. This is not a mission that can be improvised and it requires real expertise. If it is entrusted to us in its entirety it is realised on a consolidation software package adapted to the specificities of the group.

    For such a mission to succeed, one has to ensure:

    Real technical experience
    A mastering of IT tools
    Data-gathering done in an ordered and efficient way, undertaken with a cooperative approach
    The ability to make an inventory of all the operations to be dealt with by the group
    The validation of complex or specific points with the statutory auditors
    A significant level of documentation related to tasks
    A well tried and tested  structuring and methodology procedure
    Respect for deadlines and lead times
    The ability to improve on the content of the consolidation
    Research into the quality of presentation for the brochure

    This is a mission to be prepared with proven methodology, calling upon all the necessary operators and under the close supervision of an expert.
    As soon as the tasks methodology shows signs of improvement, we adapt the tasks budgets, step by step, with whatever gains in productivity are achieved by the mission.

    Our clients find reassurance in entrusting us with the task of consolidation, because they no longer have to take on the growing complexity of the mission. They can analyse the quantitative data that flows from it and thus be able to step back and see the bigger picture, so as to verify and at times correct the items in the consolidation, as the case maybe.

    Our experience allows us to maintain working relations with the statutory auditors, promoting the certification of tasks; tasks that we will submit with all due documentation.

    Lastly, this mission can be performed on the client’s consolidation software package, which makes it possible for him to upgrade to any new and useful editions later on.

  2. Aid in the implementation of the first consolidation

    This is, without doubt, the most delicate mission: to succeed in the first consolidation.

    We are well aware that heads of companies are not always fully appraised of the ins and outs of their profession. They need to protect their actions, above all, if this first consolidation occurs in the presence of investors who will demand the release of these consolidated statutory accounts.

    We know that one has to make an inventory of all the group’s specificities for the first consolidation:

    Definition of scope
    Methods for consolidation to be applied
    Identification of the data needed for consolidation
    Identification of the reprocessing and elimination operations proper to the group
    Management of entry data within the defined scope of the audit, including that from previous years’ business
    Fixing the right values for certain assets and liabilities linked to the entry data under examination
    Preparation of accounting data and what everything to do with reprocessing, eliminations and deferred taxation
    Management of the cash-flow balance sheet for each company
    Management of variations in scope
    Closure on equity
    Drafting consolidated accounts
    Customisation of the first-draft brochure illustrating the consolidated accounts to be submitted to the statutory auditors and for approval at the Shareholders’ or Associates’ meeting.

    This first venture in publication requires a good level of collaboration between the group’sfinancialservices and our firm. We act in such a way as to ensure that the budgets of such a mission are geared to the work shared between the group and the firm.

    Our experience comes to bear as effectively on groups that publish consolidated accounts without their being under any such obligation as on groups listed on the stock exchange. We are able to offer a first intervention en situ free of charge as the occasion to diagnose your own needs in such a mission.

  3. Completion of consolidation in the SAAS model

    Completion of consolidated accounts or reporting at a distance (the SAAS or ASP models) is undoubtedly a broad path to future success. It allows one to share tasks of consolidation between the group and the firm providing the service. The group can, in particular, participate in gathering data and the firm in taking on the more complex technical tasks.

    On the principle of access at a distance, one can complete tasks with an economy of journeys made between the group and the firm providing the service.

    This is a mission that proceeds by the following main stages:

    The Choice of the IT tool for consolidation in the SAAS or ASP model
    Training in the application
    The recovery of previous data for the first practice of drafting consolidated accounts
    Data gathering
    Sharing out complex tasks such as reprocessing, deferred taxation, compliance in the cash-flow balance sheet, variations in scope, closing on equity and drafting the brochure for presentation to the auditors.

  4. Assistance given to subsidiaries, the finalisation of consolidated accounts

    This type of mission is implemented for some of our clients, in order to accompany the internal consolidator in the first few days of his intervention in fine-pointing the consolidation.

    This type of  intervention on the basis of data provided helps, for example, in:

    Fine-pointing the cash-flow balance sheet drawn up by the company to balance the cash-flow statement
    Validating the relevance of what reprocessing has been effected
    Confirming or resolving the scope of the entry data
    Validating or completing the closure of equity
     Validating or resolving a particular technical complexity
    Helping in putting together, or fine-pointing, the brochure

    These missions are, in theory, undertaken and completed by experts or senior members of staff.

    Making consolidation consultants available to you
    Outsourcing consolidation services
    Auditing consolidated accounts

  5. Making specialised consultants available to you

    The major groups need specificresources from consultants, with expertise in both consolidation and information skills linked to the application of consolidation tools.

    Together with our partner, Exenco, we can make available to you consultants who can see through the completion of useful tasks during those intense periods of consolidation or replace, where needs be, employees who are not available, there and then to perform them.

    These tasks might have a bearing on:

    Control of the set of accounts for consolidation
    The entry data falling within the scope of the audit
    Specific reprocessing
     etc…

    We already take on this type of mission for major groups listed on the stock exchange.

  6. Auditing of consolidated accounts

    Wherever groups are admitted to trading or listed publicly or go beyond significant thresholds over the whole of their consolidated companies (30 million Euros in turnover, 15 million Euros in total on the balance statement and a workforce of 250: two out of the three criteria needed), it becomes necessary to designate at least two statutory auditors in the holding company, one of whose missions will be to certify the consolidated accounts.

    This type of mission necessitates special skills, since it draws on in-depth accounting techniques. It is recommended that you have specialists on board when it comes to this domain.

    The end purpose of this mission being to finalise certification of the consolidated accounts, runs through several stages in terms of general procedures:

     Becoming acquainted with the rules and procedures implemented for drafting consolidated accounts
    Validation of compliance, veracity and true and fair view of the company’s consolidated accounts as they enter into the consolidation process
    Verification of each step to do with its accomplishment

    Above and beyond the fact that this mission terminates in the certification of the consolidated accounts, it is a way to assure the quality of the work done for consolidation, such as compliance with its scope, reprocessing suited to the group’s own context, how exhaustive the elimination of intragroup accounts has been, the relevance of processing variations in scope, the quality of information contained in the notes as appendix to the consolidated accounts.

    This auditing mission of consolidated accounts is, generally speaking, a statutory audit mission, but one could perform it in an identical manner in the context of a contractualaudit.


  • For more information and for a tailored quote

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  • In addition, we offer our expert support and advice :

    • Assistance in implementing IFRS norms
    • Technical monitoring of IFRS norms
    • Assistance in drawing up notes on financial status
    • Assistance in solving complex accounting problems
    • Technical assistance in business combination
    • Aid in carrying out asset impairment tests
    • Help in choosing the right consolidation software
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