Finance function diagnosis for foreign subsidiaries

Due to the various characteristics of foreign subsidiaries, there might be uncertainties in their financial information. 

Finance function diagnosis consists of 1) Closing Management, 2) Tax Management, 3) Treasury Management, 4) Risk Management, 5) ICFR Management, and 5) Troubleshooting. 

Diagnosis and solutions

Closing management

To check the compliance of HQ accounting policies(Revenue recognition, provision, inventory valuation, impairment, etc.)

Tax management

Transfer pricing management, Tax assessment, Goods and Service Tax

Treasury management

Cash proof (every single in/out of bank accounts in the financial institutions shall be recorded in the book), All payments to the proper and pre-approved vendors

Risk Management

Finance health check (For all the assets, to check “Existence”, “Ownership”, and “Valuation” by using the CHECKLIST)

ICFR management

Private Accountant function of Internal Control over Financial Reporting for foreign subsidiaries (Global Roll Out and management testing)

Trouble shooting

For any finance related issues arising at the foreign subsidiaries

Contact us

Jae-Kook Jung

Partner, South Korea

Tel: +82 2 709 0980

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