Component audit

Component audits frequently become in efficient when local auditors focus only on technical completion instead of understanding how the local business actually operates within the wider group structure.

We work closely with both management and group auditors to ensure:

• reporting expectations are aligned early
• local risks are properly communicated
• deadlines remain realistic
• issues are escalated quickly
• audit evidence supports group reporting requirements efficiently

Our teams understand the pressure group reporting creates for local finance teams. We avoid unnecessary requests and focus on the areas that genuinely matter to the group audit.

We support:

• IFRS reporting packages
• UK GAAP and US GAAP reporting environments
• regulated entities
• cross-border reporting structures
• multi-component group audits
• subsidiaries with complex operational activities

Many subsidiaries experience the same frustration every year:

• group auditors sending generic instructions with little understanding of local operations
• multiple rounds of follow-up requests
• delayed responses during reporting deadlines
• technical questions with no commercial context
• local teams spending more time managing auditors than managing reporting

We take a more operational approach.

Before testing begins, we focus on understanding:

• how the business generates revenue
• where operational risks actually exist
• how local systems work
• which reporting areas are sensitive for the group
• where delays typically occur

This allows us to:

• streamline audit requests
• reduce duplication
• communicate clearly with group teams
• resolve issues earlier
• minimise disruption for local management

Clients appreciate that our teams remain accessible throughout the process. We do not disappear after planning meetings and return only before sign-off.