“The elimination review found a reciprocal balance that had been netted incorrectly for two quarters. Our staff had to rebuild the schedule overnight. That part was painful. The consolidated receivables figure was finally supportable.”
Client stories
What group finance teams said after the close
Comments reference specific consolidation work — eliminations, FX, component packs — not generic praise.
“Group instructions to our Kaohsiung component auditor were clearer than what we had drafted ourselves. Materiality cascade saved an argument about inventory sampling at a small plant.”
“Readiness assessment three weeks before year-end forced us to assign owners to FX rates and CTA. We still ran late on one subsidiary pack, but the parent worksheet was ready on the day we promised the board.”
“For the full consolidation audit, they insisted on visiting the Shenzhen subsidiary when inventory profit looked material. Travel added cost we had not budgeted. The visit confirmed an overstated elimination that would have inflated group margin.”
Case note — mid-year acquisition close
A Taipei industrial parent acquired two subsidiaries in July and needed a December consolidation under IFRS. Prior packs treated the new entities as cost investments only. Our engagement rebuilt the acquisition-date fair value bridge, tested goodwill allocation, and aligned elimination entries for intra-group sales that began in August.
Constraint: the seller’s component auditor would not release working papers until mid-January. We designed alternative procedures on revenue cutoff and inventory using parent-controlled shipping records. The opinion was issued ten days after the delayed papers arrived — later than the original calendar, with the delay documented for the audit committee.