The Need
Companies typically seek support when they:
- are dealing with a complex or unusual transaction;
- are uncertain about the most appropriate accounting treatment;
- want an independent review of financial statements or annual reports;
- want to improve the quality, clarity and effectiveness of reporting; and
- want workshops, training or mentoring that develop understanding, judgement and practical application.
The approach is built around a simple principle:
Understand first. Then apply.
Reporting well starts with understanding
Glynnis Carthy CA(SA) is an independent financial reporting advisor, reviewer, trainer and mentor.
She advises companies, auditors, boards, management teams and regulators on complex financial reporting matters, drawing on more than two decades of specialist experience in IFRS® Accounting Standards, the IFRS for SMEs® Accounting Standard and FRS 102.
Glynnis believes that good financial reporting starts with understanding.
Before considering the accounting or financial reporting treatment, she focuses on understanding the transaction itself, specifically what happened, why it happened and what the financial statements should communicate. This includes understanding the substance of the transaction, its commercial rationale, the broader reporting implications and the information needs of users of financial statements.
Only once the transaction is properly understood can reporting requirements be applied effectively. By understanding first and applying second, she helps companies reach conclusions that are technically sound, practical and capable of standing up to scrutiny.
Build better judgement
Glynnis believes that good advice should leave people with greater understanding, not simply an answer.
She has helped finance teams, auditors and financial reporting specialists develop their technical understanding and professional judgement. By explaining the reasoning behind conclusions, discussing alternative perspectives and encouraging critical thinking, Glynnis helps people to build their own confidence and judgement to address future issues more effectively.
Whether advising on a transaction, reviewing financial statements, facilitating workshops, training or mentoring, the same principles are key:
understand first, then apply the reporting requirements and build sound judgement.
