The UK firm has maintained a US Desk for over 10 years. The US desk supports our clients and lead engagement teams in their reporting into the US. The work primarily includes review of reporting packages and/or separate financial statements prepared under UK GAAP with US GAAP reconciliation, or all under US GAAP. Consideration of IAS and US GAAS differences are made too.
BDO UK’s US desk reviewers are primarily, Iain Henderson, Gary Hanson, Piers Harrison and Brian Walls.
In addition the desk provides consultations on US GAAP, US GAAS, PCAOB and SEC reporting matter queries. Furthermore assistance is given when there are acquisitions or divestures of UK companies by US registrants that require conversion of the financial statements to US GAAP and sometimes re-audits to US GAAS related to ASC 740. The desk also manages inquiries related to tax and bond and debt offerings that would come in the scope of the SEC and the related comfort letters.
All UK Partners, directors, managers and senior staff working on US reporting clients in the UK are licensed. The licensing process requires individuals to complete US specific technical training in a year. The training is provided by the UK US desk team and our colleagues from BDO US’s SEC service team.
BDO UK is registered with the PCAOB and has been inspected. No issues of any note were raised.
BDO UK’s US team also includes capital market specialists. The energetic world of capital markets is intricate and dynamic. A broad range of political, economic and corporate events heavily influences market volatility and direction. The exchange and over-the-counter (OTC) markets have a crucial role to play in all national and international economies. The industry faces future legislative and regulatory initiatives requiring greater transparency, appropriate centralised clearing and increased regulatory oversight.
We are experienced in advising on the regulatory, accounting, valuations systems and controls issues facing capital market participants. We believe that effective integration of risk management into governance and business decision-making is critical to restore market confidence and move forward. We also have experience in advising firms on their reward strategies to take greater account of risk and longer term business objectives.
We have a deep understanding of the challenges facing today’s capital markets industry. We provide a full service capability to the sector and our specialist capital markets team has considerable experience in providing solutions to industry issues, helping firms survive and grow in an increasing turbulent marketplace.