How can organizations ensure high-quality financial information when consolidating and converting their accounts to international accounting standards?
Objective: Ensure the quality of financial statements and their audit
1
Review of closing (monthly/year-end) and consolidation processes
2
Preparation of statutory and consolidated financial statements under Swiss CO, IFRS, and Swiss GAAP FER
3
GAAP conversions (IFRS, Swiss GAAP FER) and production of technical accounting memos
4
Audit preparation and management of auditor relationships
5
Structuring of accounting documentation and procedures, manual of accounting etc.
Case study 1:
IFRS and Swiss GAAP FER conversions
As part of regulatory changes or M&A transactions, new accounting standards (IFRS or Swiss GAAP FER) had to be implemented to ensure compliance, consistency across entities, and accurate reporting for auditors, regulators, and stakeholders.
Challenges:
There was strong pressure to meet tight audit deadlines while staying compliant with multiple regulatory and group reporting requirements. In addition, the lack of standardized documentation and accounting memos led to recurring audit questions and made the process more time-consuming.
Approach & Strategic Actions:
Support was provided for the preparation of statutory and consolidated accounts under Swiss CO, IFRS, and Swiss GAAP FER, ensuring consistency and a clear audit trail. The accounting framework conversions between IFRS and Swiss GAAP FER were then led, with key adjustments documented and the required technical memos prepared. In parallel, accounting policies, procedures, and memos were drafted and structured to build a solid technical documentation framework. All audit deliverables were prepared and coordinated, with relationships managed with external auditors to secure timely sign-off and clean opinions. Finally, internal finance teams were trained on IFRS, Swiss GAAP FER, and consolidation best practices to strengthen their technical expertise and autonomy.
Results & Impact:
IFRS audited financial statements were delivered on time and within budget, supported by full technical documentation, which led to clean audit opinions and fewer follow-up questions. In parallel, the internal teams’ technical skills were strengthened, enabling them to handle IFRS and Swiss GAAP FER matters autonomously. Accounting documentation and policy memos were standardized, making audits smoother and ensuring continuity. Overall, these efforts strengthened financial governance and improved transparency, reliability, and stakeholder confidence in the reported results.
At a glance
Managed tight audit timelines while ensuring full compliance with IFRS, Swiss GAAP FER, and group reporting requirements
Delivered IFRS and Swiss GAAP FER audited financial statements with complete technical documentation and clean audit opinions
Strengthened internal teams’ technical capabilities through training on IFRS, Swiss GAAP FER, and consolidation
Standardized accounting documentation, improving audit efficiency and overall financial governance
Case study 2:
Dispute in the automotive industry under IFRS
Following the acquisition of a manufacturing activity in the automotive sector, the buyer disputed the agreed purchase price, claiming adjustments based on the valuation of certain balance sheet items (tooling, leases, inventories, and accruals). As a financial expert, I defended its financial position, justified the accounting treatments applied pre-closing, and prevented an adjustment of the transaction price, in a context of tensions between the buyer and the Seller.
Approach & Strategic Actions:
Acting as the technical accounting expert within the seller’s team, close collaboration was maintained with the internal finance department. The disputed accounting positions were reviewed and documented, covering leases, tooling, inventories, and accruals. The tooling accounting treatment was reassessed to ensure compliance with IFRS and industry practices. Inventory valuation methods—standard cost, net realisable value, and obsolescence—were also reviewed, and accruals for warranty and supplier liabilities were validated. Detailed technical accounting memos were prepared, referencing the relevant IFRS standards, group policies, and transaction agreements to support each accounting judgment. Technical findings were then translated into clear, defensible technical arguments during negotiation sessions with the buyer’s finance team.
Results & Impact:
The seller’s financial position was successfully defended, leading the buyer to withdraw most of the proposed price adjustment and preserving a multi-million-euro value. The closing accounts were confirmed as compliant with IFRS and the transaction terms, as validated by external auditors. Key risks were eliminated through clear, well-documented technical justification. Overall, transparency of balance sheet items improved, allowing faster resolution of post-acquisition accounting discussions.
At a glance
Defended the seller’s financial position, leading to the withdrawal of most proposed price adjustments and preserving multi-million-euro value
Confirmed the closing accounts’ compliance with IFRS and transaction terms, validated by external auditors
Eliminated key risks related to complex technical accounting topics
Improved balance-sheet transparency, enabling faster resolution of post-acquisition accounting discussions
