Strategic, Operational and Technical Accounting Solutions
During busy times of the year, such as in the period before and during an audit, month-end, or whilst going through a transaction such as an IPO or acquisition, companies often need additional accounting support on an 'in-house' basis. This may be simply because of the need for additional resource, or because of a skills gap in the department. Our team has years of experience gained in industry and practice.
Cost effective, highly skilled accountants as and when you need us
Our experienced accountants can provide a range of services in a cost effective manner:
- Preparation of financial statements and management of the audit process
- Operational control and financial management
- Financial modelling, budgeting and forecasting
- Bespoke financial databases and reporting systems
- Technical advisory and IFRS conversions from local GAAP
- In-house IPO project teams
- M&A Integration management
- FSA regulatory and compliance
What can we offer that other accountants can’t?
Our mission is: to help clients achieve their strategic and financial goals.
- Outsourced CFO/Financial Controller function
- Our financial modellers and system designers are all qualified accountants
- Working abroad to support overseas operations
- Wide experience: from mining to hedge funds; from SME’s to listed companies
- Highly flexible with our approach to fees
- On call 24 hours a day and 7 days per week
Who are Whale Rock Accounting?
Whale Rock Accounting Limited, authorised by the Institute of Chartered Accountants in England and Wales, specialises in the provision of part-time, outsourced senior finance and accounting functions, technical and advisory services.
The company was established in 2004 and has organically grown significantly every year since. Our client base includes private companies, listed entities and subsidiaries of large multinationals. These include both entrepreneurial start-ups and more established businesses.
Our focus is on ‘being part of the team’. When acting for any of our clients, we take an inhouse perspective and build relationships with staff and management alike that allow us to advise with the clients’ interests at the front of our mind.
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Some of our services:
Ongoing financial management
Often, it is not appropriate for a company to employ a Financial Controller or Finance Director, either because of the cost, or the lack of need for a full-time employee. Whale Rock provide such services to a large number of our clients supporting other finance staff in the process. We do not provide bookkeeping services, but are able to manage either employed or outsourced bookkeepers for the client. We will prepare management accounts and board reports and other strategic information as requested. We are committed to assisting clients in finding a long-term solution to resourcing issues and as our clients grow we will always facilitate the recruitment and subsequent handover process.
Technical accounting solutions
Our experienced team can assist with most UK and International accounting issues. We regularly carry out conversions from UK and overseas GAAP to IFRS, advise on Share Option Scheme accounting and determine the accounting implications of derivative instruments and complicated debt structures. We will ensure you have the correct basic principles in place before an audit commences.
Financial modelling and forecasting
We produce bespoke business models for a wide range of businesses to enable them both to manage short-term cash flows and also make key strategic decisions. Our models may enable companies to determine the commercial viability of a decision or be used to provide robust, numerical evidence to a fundraising document. Each model is designed and built following detailed discussions of the precise client needs and only after we have fully understood the workings of the business.
Preparation of interim and final ‘glossy’ accounts under IFRS
Our stock market listed clients often require ‘glossy’ accounts to provide to shareholders and investors. We work closely with the IR departments within these clients to facilitate the publication process and ensure a consistent and coherent link is established between the ‘front and back ends’ of the finished documents.
Preparation for audit
Audits can be expensive and painful processes if they are not properly prepared for. All of our experienced accountants are ex-auditors and we therefore understand what is required in order to ensure a smooth audit. We often assist clients in the weeks and months leading up to an audit in tidying books and records and preparing audit files. We have close relationships with all the major audit firms and we can liaise with them during the process so that the client can continue with running their business.
Internal control reviews
It is increasingly important to establish a strong financial control environment, particularly for listed companies. We carry out internal control reviews and provide specific advice on improvements to systems and controls. We can implement new policies and procedures and then monitor them on an ongoing basis to ensure they are adhered to. The result of strong internal controls is efficiency and often a reduced audit fee!
Due diligence scoping
For major transactions such as acquisitions, we can carry out an initial due diligence scoping so that the major areas for potential concern can be highlighted at an early stage in the process. These can then be focussed on in appropriate detail during a full due diligence, thus preventing the need for lengthy reports which contain only little relevant information.
Ad - hoc services
Our ethos is to be available and on-call whenever our clients need us. Therefore we are often asked to assist with internal ‘one-off’ projects. Over recent years we have designed a number basic internal management systems such as timesheets, cost allocation calculators and project costing databases and have advised boards on both a financial and strategic level.
Our standard terms and conditions can be downloaded here: WR TOB (PDF)