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US GAAP and SEC Reporting & Compliance Services

A forward-looking view

With our extensive experience and industry resources, we are committed to supporting your company’s growth by helping you navigate financial reporting and compliance challenges in the context of reporting under the US regulatory framework.

Complying with US GAAP and Securities and Exchange Commission (SEC) rules and regulations can be difficult. With our range of services, we aim to not only answer any questions you may have, but help you understand and implement new processes to improve your present and prepare for the future.

Accounting standards implementation

  • Advice on data-gathering and maintenance processes triggered by the new standards
  • Evaluation of the standards’ potential impact on your financial reporting and business processes
  • Drafting of accounting position papers, policies, and financial statements disclosures
  • Industry- and sector-specific insights and possible benchmarking
  • Implementation assistance encompassing project management services, support, and advice to your financial reporting department

Accounting policy development and implementation

  • Assistance in drafting your US GAAP accounting policies in case you are adopting US GAAP for the first time or if it is triggered in situations where it is required as a result of a post-merger need, among other
  • Providing a benchmarking analysis of your existing US GAAP accounting policies to enable possible enhancements
  • Reviewing your operational and business processes to align your internal controls and processes to implemented accounting policies to enable executing per the policies as it relates to your efforts to deliver accurate and complete financial reporting

On-call US GAAP accounting advisory

  • Training on US GAAP standards and their application
  • Advising on formulating an approach to treatments in the financial statements and disclosures thereon around sensitive accounting topics, including business combinations, consolidation, impairment, earnings per share and similar areas, through review of contractual terms (pre- or post-execution of agreements/deals), valuation assessments, etc.
  • Drafting and/or reviewing US GAAP accounting position papers, including performing technical accounting consultations for complex accounting matters under US GAAP

PCAOB audit readiness

  • Our PCAOB Audit Readiness Lab involves a brainstorming session to cover topics that include the key areas of a PCAOB audit, anticipated audit challenges, solutions to those challenges, managing audit of internal controls, and managing reported misstatements and internal control deficiencies
  • Our PCAOB Audit Readiness Gap Assessment helps you to assess your organisation’s readiness to undergo a PCAOB audit by providing Deloitte’s assessment of the maturity of the company resources, identifying the gaps and developing a remediation plan
  • Our PCAOB Audit Assistance Services, which are only for non-restricted entities, involve providing project management capabilities and supporting interactions with the your company’s external auditor

SEC reporting compliance

  • Securities and Exchange Commission (SEC) reporting and disclosure requirements can be complex and difficult for companies of all sizes, especially for companies that are new to the capital market regulations in the United States
  • Our services are geared toward public entities that file with the SEC and private entities considering an initial public offering (IPO) in the United States or engaging with US public counterparts
  • We can assist and advise on a wide range of SEC reporting matters, from filing an initial registration statement to annual reports

US GAAP conversion from other GAAPs and financial statements preparation

  • Review of local GAAP financial statements, accounting records/transactions and contractual relationships to identify the GAAP differences between US GAAP and the local GAAP through an accounting diagnostics procedure
  • Upon performing an accounting diagnostic, we can help companies with their first-time conversion of financial statements from local GAAP to US GAAP
  • Recurring managed services of conversion of financial statements from local GAAP to US GAAP

SOX readiness

Our SOX readiness team can help you identify, understand, and assess your current-state capabilities, processes, and controls. Then, we can provide the summary of gaps with severity for each and recommendations for remediating those gaps.

First-time SOX implementation

The results of undergoing a SOX readiness process helps in creating a tangible list of action items that management can review and determine a SOX implementation program through our assistance. Such program is based on phases, priorities and feasibility of timeline to enable a phased approach based on availability of resources to get to a stage where management feels comfortable to certify for SOX compliance. Our team of professionals approach the implementation process based on best practices through a practical approach commensurate with the size and objective of your company, its operations and resources available to accomplish SOX compliance.

SOX remediation services

Our team of SOX professionals offer a helping hand to remediate your significant deficiencies or material weaknesses. The process starts with a deep dive into the root cause and subsequently developing a thoughtful remediation plan. We provide management with valuable insights on to assisting in transparent reporting of the progress of remediations to those charged with governance. Remediation of critical deficiencies in internal control over financial reporting is a daunting task across all types of companies and our team of professionals provide you not only with the roadmap to remediation, but walking the path of remediation through partnering with you to ensure we leave the field upon you being able to close your internal control deficiency gaps.

SOX controls testing

Public companies in the US capital market, unless temporarily exempt under certain rules, need management’s certification on effectiveness of internal control over financial reporting (SOX 404(a) certification) on an annual basis in their annual report filings with the SEC. In addition to day to day financial reporting and operational finance responsibilities, companies are often short of dedicated resources who could enable such testing being performed timely and documented to support 404(a) certification of management. Our team of professionals, highly skilled in testing controls in all size of companies across industry spectrum can help you test your internal controls and document the results of such testing in compliance with SOX requirements. We can further facilitate your external audit of ICFR through offering a liaison with your auditors to accumulate and provide evidences of such test work through offering an option for your auditors to use the work of others in their ICFR audit.