The right reporting framework for your company
financial statements & reports
Our team can provide assurance and other services using various reporting frameworks based on the preferences and needs of your company. We’ve helped many companies in the U.S. and abroad with their financial statement needs. Our assurance team is ready, willing and able to assist you through a number of valuable services.
We can report on financial statements prepared utilizing U.S. Generally Accepted Accounting Principles (U.S. GAAP). U.S. GAAP reports provide investors with a minimum level of consistency in the financial statements used when analyzing companies for investment purposes.
The International Financial Reporting Standards (IFRS) were established in Europe and designed to address the complications faced by multinational and public corporations. Today, the standards have been adopted in more than 100 countries. With over 40 years of international experience and specialized training, our team has become quite adept at utilizing the IFRS framework.
FRF for SMEs
The Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) is a special-purpose framework based on the principles of U.S. GAAP but tailored to meet the needs of privately-held businesses and their financial statement users. To you, this means the framework is focused on cash flow. The reporting option is tailored for private companies so they don’t have to spend time (and money) on financial reporting areas that don’t bring value to financial statement users. We can discuss and advise on the value of this new framework to your company.
Other special purpose frameworks
At Clayton & McKervey, we’re eager to help our clients, especially with the special-purpose reporting you might be looking for. Let us know what you need, and we’ll propose a plan to meet those objectives.