In a crisis situation, targeted communication is crucial, especially with banks and credit insurers. The most important thing in these discussions is to coordinate the group of financial backers, find the balance among interests that are often not aligned, and develop creative solutions where needed. It’s important to have a detailed understanding of outside financiers’ viewpoints – which are conditioned by collateral, risk reduction, equal treatment and formal requirements – and to find viable solutions in that setting.
To gain an adequate time window for an appropriate analysis and to stabilize backers, our first priority is to ensure the company’s near-term ability to meet payments. We support that with such aspects as operating cash management and even balance-sheet changes and corporate actions.
Audits of consolidated financial statements: New requirements due to ISA 600
The revised version of the International Standard on Auditing (ISA) 600, an important auditing standard for group audits, has been revised to increase clarity and uniformity and to define the duties of the group auditor more precisely. The main objective of this revision is to improve the quality of audits of consolidated financial statements. ...read more
