Compliance Services for a Global Weather Forecasting Group

Case Study1st Dec 2020

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Our Client

The UK subsidiaries of a global weather forecasting and decision support group based in Norway which has had nearly 20 year of success, predominantly in the Oil & Gas, Renewables and Shipping sector.  

In the last 5 years there had been a change in local management, the coming together of two previously unlinked subsidiary companies and the resignation of their lead accountant which led to various compliance services and ad-hoc advice provided to the UK companies. 

Our Approach 

  • Meetings with local and group management and their finance team to understand what they expected to achieve from the audit and tax compliance services, with management looking for value for money from this service 
  • Practical approach to identifying improvements that could make the compliance services more efficient for the client each year 
  • Liaising with auditors of other group companies and using the client’s cloud based accounting software to ensure consistency and correct calculations 
  • Regular contact with the client throughout the year once the audit and tax compliance services were completed to keep up to date with how the business is performing and to react to the challenges that management were facing 

The Outcome 

  • AAB worked to ensure that the appropriate double tax relief has been claimed which has reduced their tax bill 
  • With the resignation of their lead accountant, a cost-effective outsourced payroll solution was provided which aligned their systems and reduced the resource required from within the company, freeing up staff resource for other parts of the business
  • Through providing detailed feedback to group management through the compliance process, management at parent company level have the peace of mind that operation teams are operating effectively 
  • Confidence and comfort for the client that they are in compliance with relevant company and tax law 
  • Reduced the time spent by local management and their finance team on compliance issues allowing them to focus on the running of the business 

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