An Investigating Accountant’s Report (IAR) involves an independent review of a company’s historical and/or projected financial information and any assumptions and material accounting policies adopted applicable to the information.

 

The purpose of an IAR is to provide a negative assurance opinion regarding whether a company’s historical and pro forma financial information and any forecast financial information is:

 

—  Properly prepared on the basis of the disclosed

     assumptions
—  Prepared on a reasonable basis
—  Presented fairly in accordance with relevant

     recognition and measurement principles, other

     mandatory reporting requirements and the

     disclosed accounting policies adopted.

 

An IAR is typically required to support the inclusion of financial information in a prospectus or other disclosure statement.  Reports of a nature similar to an IAR may also be required for other purposes, including to support the preparation of pro forma accounts or  projections in cases of disputed transactions or in situations involving the preparation of “but for” scenarios in economic loss cases.

 

While the review of financial information is at the centre of the report, a comprehensive IAR will also take into consideration other relevant factors, such as the existence of normalisation adjustments to historical results (for example as a result of  discontinued operations) or the impact that a transaction yet to occur would have had on past results had it taken place in the past.
 

How William Buck can help

 

Our corporate advisory team has extensive experience in assisting companies through capital raisings and other situations that might require the preparation of an IAR.

An Investigating Accountant’s Report (IAR) involves an independent review of a company’s historical and/or projected financial information and any assumptions and material accounting policies adopted applicable to the information.

 

The purpose of an IAR is to provide a negative assurance opinion regarding whether a company’s historical and pro forma financial information and any forecast financial information is:

 

—  Properly prepared on the basis of the disclosed

     assumptions
—  Prepared on a reasonable basis
—  Presented fairly in accordance with relevant

     recognition and measurement principles, other

     mandatory reporting requirements and the

     disclosed accounting policies adopted.

 

An IAR is typically required to support the inclusion of financial information in a prospectus or other disclosure statement.  Reports of a nature similar to an IAR may also be required for other purposes, including to support the preparation of pro forma accounts or  projections in cases of disputed transactions or in situations involving the preparation of “but for” scenarios in economic loss cases.

 

While the review of financial information is at the centre of the report, a comprehensive IAR will also take into consideration other relevant factors, such as the existence of normalisation adjustments to historical results (for example as a result of  discontinued operations) or the impact that a transaction yet to occur would have had on past results had it taken place in the past.
 

How William Buck can help

 

Our corporate advisory team has extensive experience in assisting companies through capital raisings and other situations that might require the preparation of an IAR.

Our professionals combine that experience with in-depth knowledge of financial reporting to provide a comprehensive servicein connection with IARs including:

 

—  Assisting with the preparation of the

     financial information disclosed in a

     prospectus or other disclosure statement
—  Reviewing the financial information

     disclosed in a prospectus or other

     disclosure statement and preparing an IAR

     in relation to the historical and  pro-forma

     historical financial information
—  Reviewing forecasts or other prospective

     financial information disclosed in a  

     prospectus or other disclosure statement

     and preparing an IAR thereon
—  Participating in the due diligence

     committee in connection with capital

     raisings

 

Where required, in addition to providing the IAR, we document the details of our review in formal reports that are comprehensive yet clear and concise, ensuring that they enable the user to fully understand the scope of the review undertaken in forming our opinion.

 

Our service commitment

 

We are serious about our independence and conduct our investigations in an impartial and professional manner.

 

Each of our clients is appointed a dedicated team led by one of our directors experienced in preparing IARs who maintains close contact with you throughout the engagement.
  

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Our professionals combine that experience with in-depth knowledge of financial reporting to provide a comprehensive servicein connection with IARs including:

 

—  Assisting with the preparation of the

     financial information disclosed in a

     prospectus or other disclosure statement
—  Reviewing the financial information

     disclosed in a prospectus or other

     disclosure statement and preparing an IAR

     in relation to the historical and  pro-forma

     historical financial information
—  Reviewing forecasts or other prospective

     financial information disclosed in a  

     prospectus or other disclosure statement

     and preparing an IAR thereon
—  Participating in the due diligence

     committee in connection with capital

     raisings

 

Where required, in addition to providing the IAR, we document the details of our review in formal reports that are comprehensive yet clear and concise, ensuring that they enable the user to fully understand the scope of the review undertaken in forming our opinion.

 

Our service commitment

 

We are serious about our independence and conduct our investigations in an impartial and professional manner.

 

Each of our clients is appointed a dedicated team led by one of our directors experienced in preparing IARs who maintains close contact with you throughout the engagement.
  

< Back to Corporate Advisory Services