Services to Subsidiaries
During the course of our firm’s history, we have provided significant audit, tax and other services to subsidiaries of larger corporations. Often, our firm is engaged to perform these services because of our expertise in an industry, our proximity to the subsidiary, and the reasonable cost of our services. Many of these parent companies are foreign-domiciled or incorporated entities that require services in the United States. We have served companies that are headquartered in Austria, Germany, Norway, the United Kingdom, Spain, Switzerland and Israel.
From an assurance perspective, our services have encompassed significant audits, performed in accordance with U.S. generally accepted auditing standards, to comply with local and/or international reporting requirements, often under International Financial Reporting Standards (IFRS). These services are often supplemented by the completion of reporting packages that are required to capture information for parent company reporting requirements. Additional services have also included specific agreed-upon procedures related to the purchase or sale of companies or divisions.
Our firm is also adept at assisting foreign-owned companies in understanding tax filing requirements at both the federal and state levels. Our expertise in these areas has enabled us to assist these companies with tax planning matters, taking into consideration the overall tax structure of a consolidated group of companies.