Accounting Advisory Services - Details

Accounting Advisory Services - Details

Our professionals help our firms’ clients with the accounting aspects of their financial reporting and compliance obligations.

Our professionals help our firms’ clients with the accounting aspects of their financial..

Companies today are facing new and complex events: financial restructuring, acquisitions, spin-offs and deleverage of assets; and many require the combination of skills, technical knowledge, experience and focus that KPMG’s Accounting Advisory Services (AAS) can offer.


IFRS and accounting change services

KPMG is very well positioned to help you implement new accounting standards, as we can provide timely advice on the impact of accounting changes, assist you in the development of an implementation roadmap and conduct technical training sessions to equip your team with the knowledge to help ensure a smooth transition to the new standards.

We understand that the pace of these changes is swift, the volume is significant, and it can be hard to keep up with all the requirements and potential impact. KPMG works with you to understand the potential implications of the anticipated accounting treatment.


Examples of assistance we provide:

  • Perform an initial impact assessment, highlighting the differences between local GAAP and IFRS 
  • Assist in implementation of the accounting differences and drawing up financial statements
  • Identify the likely impact of key accounting differences on the profit and loss statement
  • Assistance with the implementation of IFRS 15 (New standard for Revenue recognition


Transition to the New Greek GAAP

KPMG provides services to companies from a wide range of industries, with assistance in the introduction and understanding of the rules and requirements of Law 4308/2014, with respect to the New Greek Accounting Standards.

Specifically, our services provide clients with the assistance to resolve issues relating to:

  • The new Transactions Tax Imaging Code (documents and accounting records)
  • First-time application of the new Greek Accounting Standards with the respective required actions
  • The content and methodology for the preparation of annual financial statements, according to the New Greek GAAP
  • The notes content according to the New Greek GAAP


Integrated Reporting advisory services

Historical financial information plays an essential role in corporate reporting, but on its own, fails to provide a complete picture of business value. More is needed to help readers understand how management is driving the business forward and how changes in the business environment might present new opportunities and challenges.

Integrated Reporting (IR) offers the opportunity to center business reporting on strategy and value creation, to demonstrate how the business uses capital and the extent to which it should continue to be invested in the business. Some organizations start this transition by enhancing the structure of their narrative reporting, but the true value is in the adoption of the IR framework as a whole. KPMG has been involved in the development of the IR Framework and has put considerable effort into developing thought leadership, tools and methodologies to assist the companies implementing IR. KPMG’s tools and methodologies are flexible and enable us to provide clients with tailor made solutions which meet their specific IR ambitions and objectives.

  • Step 1 - Governance and planning 
  • Step 2 - Working with processes the client already has, and suggest improvement initiatives
  • Step 3 - Core content development - insight and analysis
  • Step 4 – Development/Structure of an Integrated Report
  • Step 5 - Combined Assurance Framework
  • Step 6 - Reporting process
  • Step 7 - Debrief including debrief report


Capital market readiness

KPMG provides a wide range of advisory services to assist with your public offering. Using our Initial Public Offering (IPO) methodology, we work with you through the offering process to implement the necessary requirements to help you build a sustainable approach to meet the needs of a public company.


Financial reporting process advisory

KPMG provides a wide range of services to assist you in improving your financial reporting processes. Examples of assistance:

Quality Close - Using KPMGs’ proprietary quality close methodology can provide you with a structured approach to reviewing and improving your financial reporting processes. This can help you improve data quality in financial statements, reduce reporting timelines, reduce non value-adding activities, and reduce finance department costs. KPMG’s project approach is variable and adjusts to your individual closing phases. The focus is on creating some quick wins in the short run, as well as making some sustainable changes to the financial reporting processes that can provide benefits in the long run.

Reporting Pilot - Complex company reports must be of a high standards where content is regarded, satisfy the information requirements of the stakeholders, and be completed on time. KPMG’s Reporting Pilot is designed to allow automatic and consequently cost effective and timesaving reporting, thus meeting the high standards of the various target groups in the long term. The Reporting Pilot is a tool for efficiently creating reports of high standards, as it combines both IT and professional know-how.

Closing Pilot - The Closing Pilot can help make the closing process fast, manageable, cost efficient and transparent. It gives you control of almost every activity and tangible results at almost all times and for the companies within your group. This is a web-based tool for planning, monitoring and effectively managing the annual, quarterly and monthly closing processes. The tool combines specifically designed IT systems with our professional knowledge, gained through KPMG member firms work on numerous closing process projects worldwide.

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