Welcome to Precision Financial Reporting
Precision Financial Reporting provides cost-effective, high-quality professional financial reporting services, including financial statement preparation and reporting services under UK GAAP or IFRS, combining expertise, innovation, and a personal, client-focused approach. Precision also offers audit readiness and auditor liaison services designed to deliver a smoother, more predictable audit.
Precision Financial Reporting was founded by Catherine Bates, FCCA, to provide cost effective financial statement preparation, financial reporting services, financial reporting support, other financial reporting assistance and audit readiness and liaison services.
Catherine has over 28 years’ experience working in audit, most recently as an audit director for a top 10 firm. She has specialist knowledge of financial reporting requirements, as well as auditing standards, and has worked with entities from small owner managed businesses to larger, listed entities including complex international groups, helping each business address increasingly complex reporting challenges, regulatory requirements and technical accounting issues with strong technical expertise. She also has experience dealing with various group structures including complex consolidations and acquisition accounting.
Having worked extensively on both sides of the audit relationship, Catherine helps clients manage auditor interactions efficiently. This dual perspective allows her to anticipate issues early, resolve technical questions quickly, and create a smoother experience for CFO’s, Finance Directors and their teams. Her involvement can also assist teams to maintain an efficient process, strengthen compliance, and reduce the risk of late filing penalties that can arise when financial statement production is delayed.
Through Precision, Catherine offers a relationship driven, personal approach, providing a sole point of contact throughout the project.
Precision Financial Reporting uses innovative specialist financial reporting software to prepare annual reports and financial statements under UK GAAP or International Financial Reporting Standards including reporters under the LLP SORP.
We are also able to prepare full, well formatted annual reports for listed entities as well as interim reports under IAS 34. Sustainability and ESG reporting can also be prepared, with a focus on non-financial performance metrics relating to governance and environmental impact.
We can advise you on the alternative frameworks available to you, whether you are looking for an annual report to communicate significant information to the users, or whether you are looking to provide the minimum disclosure required. Clear reporting can also present your financial position to investors, lenders and other stakeholders with confidence.
If you are looking to alleviate pressure on internal resources or need an alternative if your audit firm is not able to provide the service, Precision has the expertise to help. We know it can be difficult to maintain in-house knowledge, and outsourced guidance lets your team focus on core priorities. Our clear and transparent pricing structure ensures we can provide you with a professional, cost-effective alternative to the larger accounting firms.
We will ensure that changes to the financial reporting requirements are reflected in the financial statements and can advise on upcoming changes to accounting standards and how these will impact on disclosures. You will be provided with high- quality financial statements, fully compliant with regulatory bodies, fully cast and cross checked, with draft financial statements ready for review in line with your timetable and each key filing date, supporting continuous improvement in reporting quality.