Financial and regulatory reporting services

Financial and Regulatory Reporting Services

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Significant change has been a constant factor in our current regulatory environment. Investment management and advisory organisations continue to seek expertise in regulatory oversight. 

Contact Alistair Youngs or Carl Day on +44 (0)20 7042 0560 to learn more about how ACA makes regulatory reporting obligations as simplified and seamless as possible for our clients.


 

ICAAP Services

 

Organisations subject to European Union financial services supervision, making discretionary investment management decisions (outside the scope of the AIFMD), will face Pillar 2 requirements that ask the firm to:

  • Perform on an ongoing basis a formal Internal Capital Adequacy Assessment Process ("ICAAP")
  • Update on an annual or event-driven basis, written documentation of that process, along with a detailed assessment of individual risks and associated mitigants, stress testing, reverse stress testing, wind up analysis, and conclusions on the levels of capital that are appropriate for risks faced

ACA assists with the development of the key processes underpinning the ICAAP and with the preparation of the written ICAAP Report by:

  • Helping firms to quantify risk appetite and identify their major sources of risks
  • Reviewing and documenting risk mitigation and the control environment
  • Quantifying capital requirements associated with identified risks
  • Preparing financial forecasts and stress testing scenarios
  • Creating a wind-down plan and performing the associated calculations

 

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Financial Reporting

 

Our specialist industry knowledge means our team has successfully prepared thousands of accounts for hedge funds, private equity firms, and other organisations. Outsourcing financial reporting to a trusted partner who understands each individual organisation means accounts are filed correctly, on time, and with the appropriate management focus. Our services include:

  • Preparing monthly management accounts and head office reporting
  • Forecasting cash flows
  • Assessing funding requirements
  • Preparing annual accounts, including consolidated group accounts
  • Year-end audit support and liaison with auditors on all accounting matters
  • Advising on UK GAAP and IFRS treatments and statutory reporting requirements

Regulatory Reporting

 

The regular reporting that organisations must give to regulators can be time-consuming and resource-intensive to prepare and complete. ACA has more than two decades of experience executing on this type of reporting in key jurisdictions, including the US, UK, Malta, and Hong Kong. Hundreds of financial services firms over that time have trusted ACA to file this important information. 
 
Ways ACA can help include:

  • Providing integrated regulatory and accounting advice to principals and Head Office, as required
  • Forecasting prudential resources and robust capital planning 
  • Preparing and filing regulatory returns on systems provided by supervisors, including:
    • UK: GABRIEL reporting (all financial and prudential data items)
    • Malta: MFSA regulatory reporting (all financial and prudential returns)
    • Hong Kong: liquid capital reporting

 

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Payroll

 

Payroll is an essential part of running an organisation, and it is also a function that can be easily outsourced – freeing up management time and resources.

ACA’s payroll service is convenient, cost-effective, and flexible and our in-house system can be tailored to handle firm’s specific requirements. Our team is flexible in supporting a firm’s working practices and picking up the tasks the firm wishes to offload.

We also run payroll and handle required filings for employees; calculate payroll deductions and net pay; and prepare monthly pay slips and year-end tax filings.

Transparency or Annex IV Reporting Solutions

 

With few exceptions, non-UCITS funds that are marketed into the EEA are classified under European rules as Alternative Investment Funds (AIFs). Managers of AIFs, regardless of where they are located, are required to perform ‘Transparency’ or ‘Annex IV’ reporting within the EEA.

The scale and scope of this reporting can be significant. For example, the mandatory reporting taxonomies are highly granular. Each contains 38 detailed questions relating to the AIFM and around 300 pertaining to each AIF marketed and/or managed in the EEA, covering both static and non-static information. The information to be reported must be obtained from a variety of sources, typically including:

  • the AIFM’s own accounting and prudential records,
  • transactional, position and valuation data maintained by fund administrators, and
  • other third-party sources and systems.

ACA can help ease the burden of this reporting requirement. However simple or complex an firm’s transparency reporting needs are, our unparalleled regulatory and reporting expertise can assist. Our transparency reporting solutions include:

  • Ad hoc advice on discrete questions relating to taxonomies or Directive interpretation
  • The review and/or challenge of in-house or administrator prepared filings
  • Full “managed service” outsourcing for EEA and non-EEA AIFMs required to report to national regulators

 

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Insights and Resources

 

Below are some financial and regulatory reporting resources you can read for additional information or guidance:

Call Alistair Youngs or Carl Day on +44 (0)20 7042 0560 to learn how ACA can help your firm overcome its financial and regulatory reporting challenges.