Statutory filing

Client
Our client is a multibillion dollar US listed trading company with European headquarters in The Netherlands.  A complex structure, fully focused on operational excellence.

Opportunity
Operational reporting to the US is based on the logistic structure. This structure does not match the statutory reporting structure. The complex conversion from local books to statutory accounts is fully outsourced. Global Forward has been servicing this company for more than 5 years.

Global Forward Approach
Annually financial statements  have to be prepared and published in accordance with national laws and regulations. The result is that the data from the local accounts must be converted to comply with governing local accounting principles. Global Forward takes the whole process of conversion from local books to statutory accounts out of the company's hands. We take care of the identification and documentation of accounting differences, setting up the books to stats trail and the writing of the IFRS or Dutch GAAP financial statements. In addition we also act as a liaison with the auditor for the audit of the statutory accounts.

Results
A transport hands-on process covered by Global Forward. Every year, we achieve efficiency improvements which are communicated openly with our client. At present, we have been asked to expand our services with tax compliance and internal audit support.