Audit of multinational companies
Our audit department provides audit and financial statement services to many multinational companies who have opened branches in Israel. Understanding the financial status of the local branch required a unique understanding of the interaction of the financial systems, reporting requirements, local laws and taxes in both Israel and the country in which the parent company operates.
Audit services can be prepared in accordance with reporting statements in Israel, the USA (US GAAP) or internationally (IFRS).
Our experts are knowledgeable in the reporting requirements in Israel and other countries around the world, and are able to merge the differing systems in Israel and elsewhere. Managing the audit of multinational companies opening a branch in Israel requires reconciliations on numerous topics. Our experts provide an audit that can deal with the necessary reconciliation on each subject where there are differing treatments, and are able to plan a course of action ahead of time in order to forestall any future issues and stumbling blocks.
Our audit work reflects the overall picture of the business and its standing vis-à-vis local laws, the parent company and the tax authorities in the home country. In this way, we give our clients the best service available, and allows them to examine the financial strengths and weakness of the business. Our works also provides professional advice and financial opinions regarding the potentials for growth, sensible management and the right steps to take going forward in both Israel and abroad.
Services of the department
- Audit and review of financial statements
- Preparation of financial statements
- Registration of companies with VAT authorities
- Tax advice, and ongoing representation with the tax authorities on a range of issues
- Assistance with merger and acquisition transactions
- Preparation of prospectuses, and ongoing assistance for companies intending to issue securites on the Israeli or foreign stock markets
- Ongoing accounting advice, with understanding of a wide range of activities and business sectors
- Accounting advice re International Reporting Standards (IFRS)
- Accounting advice re US Reporting Standards (US GAAP)
- Professional opinions
- Due diligence, to determine the worthwhile status of a transaction, and managing risks