E&Y - Statutory/External Audit - IFRS/USGAAP

We are looking to hire candidates in our Statutory Audit- Financial Accounting & Advisory Services in Bangalore

Executive : 1-3 years

AM : 3-6 years

- Good communication skills

- 30-40 % travel

JD:

Financial Accounting Advisory Services

About the EY FAAS team :

FAAS assists EY’s advisory clients in solving their complex accounting and financial reporting issues in Indian GAAP, IFRS, US GAAP, or Ind-AS.

- FAAS solutions are provided by a senior team – generally, manager and above - with strong financial reporting skills, in-depth sector knowledge, and an advisory mindset.

- The challenge of working in the FAAS team is very different from being part of the Audit or Assurance practice or even an industry role, although all of your experience to date will be relevant. Firstly, all assignments are project-based, and the primary skill-set required is one of problem solving not problem identification. In addition, you will very often find yourself working as part of a multi-disciplinary team, alongside EY professionals from the Transaction Support, Advisory, Valuations or Tax team. And at manager level and above, you will be responsible for an account portfolio, developing further opportunities to support our clients.

- FAAS is strongly aligned to the accounts and Business Unit structure at EY, which is set up according to sector. This means that you will have the chance to improve your sector knowledge of particular industries. FAAS also has a strong network within EMEIA and the Global firm of EY, which means we can bring the best practices and experiences to bear for our clients in India. It may also offer opportunities for international exposure for FAAS India team members.

- All this provides an excellent opportunity to build on the skills and knowledge you have developed to date in audit or in industry, and to increase the breadth of your experience in the financial reporting implications of transactions, business models, systems implementation and tax planning.

FAAS is a small and fast-growing team with excellent exposure to the firm’s key clients, and gives excellent growth opportunities for the right candidates.

FAAS solutions include :

FAAS solution - Description/examples of types of projects undertaken by FAAS

GAAP conversions :

- Conversion of financial statements from IGAAP to Ind-AS

- Reverse conversion for overseas acquisition (IFRS to IGAAP).

Consolidation implementation & accounting manuals

- Accounting support for client when selecting new consolidation system – for example, elimination entries required or multi-currency reporting

- Preparation of accounting manual for group with multiple entities/jurisdictions – IGAAP or IFRS

Transaction support and financial reporting :

- IFRS impact assessment for cross-border acquisition

- EBITDA impact of acquisition

- Carve-out and demerger accounting

- Accounting policy alignment – pre- or post-acquisition

Tax and tax reporting :

- Accounting solutions (IGAAP and IFRS) related to tax planning/structuring

IPO preparedness :

- Overall assessment of company’s readiness from financial reporting/governance perspective for IPO process

- Project manage production of financial information for IPO process

IFRS training, ad-hoc support and on-call services :

- Accounting support for new business models

- Tailored training programme for specific company/industry

- White paper/accounting advice on specific transactions

Experience:

Required :

- Strong IGAAP and/or IFRS and/or US GAAP financial reporting experience in complex/large companies, most likely in Big 4 audit/advisory/transaction vertical or MNC finance/M&A environment

- Ability to explain complex accounting and financial reporting issues simply

- Advisory mindset, ability to develop solutions for the client with support from technical subject matter experts

- Business development skills and aptitude, depending on level. In applicants at Senior Manager and above, a strong track record of business development is expected

Specific financial reporting experience in at least one of the following:

- Transactions (acquisitions, carve outs, demergers, restructuring)

- Preparation for IPO including listing rules in India/UK/US

- Complex consolidation structure in an MNC environment including implementation of ERP/consolidation IT system

- Tax planning and complex structures

- Developing and delivering technical training

- Specific financial reporting topics: revenue recognition; financial instruments; off-balance sheet financing; consolidation and SPEs; banking; insurance;

- Strong project management skills

- Excellent communication skills

Roles/Responsibilities:

- Manage / execute FAAS projects, develop and implement solutions (see above)

- Identify and develop business opportunities; manage accounts (depending on level)

- Coach junior team members, encourage technical excellence and learning

- Integrate with other EY service lines on multi-disciplinary projects

- Contribute to thought leadership and participate in marketing activities

Anusha