AUDITING

The professionals working in this department are involved in the corporate balance sheets auditing, "reporting packages" and financial information drafting. Our professionals are used to work applying both international and national corporate accounting principles (IFRS/IAS).

We usually start from an in-depth knowledge of the company, the market in which the company works and their connected risks. Then, we carry out a preliminary investigation in order to collect valuable information. These are collected and analysed by expert professionals and, then, the Partner and the Manager in charge play their constant part throughout the whole process. Furthermore, we base our work on a continuous process of communication between professionals, the company and the Management and on the knowledge of the control tools used to monitor the company's performance.

ACCOUNTING AUDITING

• accounting auditing of balance sheets and of corporate consolidated financial statements for both national and international companies and consolidated financial statements;
• infra-annual accounting situations auditing and drafting of half-yearly reports for internal and external information purposes;
• periodic audits in order to verify the regular accounting maintenance;
• audit of the "reporting packages" drafted according to the corporate group accounting principles;
• drafting fairness opinions of the exchange ratios or calculation of prices for issuing new shares with the exclusion of the right of option;
• drafting of accounting audits limited to the balance sheet;
• carrying out of agreed audit procedures on specific budget balances.

ACCOUNTING MANAGEMENT

• assistance in order to solve accounting technique issues;
• assistance during the corporate consolidated financial statements drafting;
• analysis of the corporate internal control systems;
• evaluation and planning of accounting procedures, management procedures and administrative control systems;
• working capital optimization analysis;
• planning and adjustment of the accounts plans, of the accounting procedures and handbooks.

IFRS/IAS Transition and reporting according to the corporate accounting principles

LNRA assists the customers on the basis of a prompt and effective IFRS/IAS conversion procedure. In particular, we provide an integrated support in the identification activities of the budget areas and of the administrative-accounting processes involved by the entry into force of the IFRS/IAS principles. We provide our integrated support in the definition of a work plan describing the necessary actions in order to adjust the accounting principles, the organizational processes and the administrative-accounting procedures to the needs imposed by the new international accounting principles. Moreover, we manage said proceeding also for multinational corporate groups, since we have gained an international experience.

We assist companies with reference to the drafting of the balancesheets, of the infra-annual accounting situations and of the "reporting packages" drafted on the basis of the IFRS principles and of the corporate group accounting principles. We provide this service according to the periodicity requested for issuing financial information (monthly, quarterly and annual frequency). Said activity contemplates the coordination with other entities (i.e., the Parent Company, subsidiaries and affiliated companies).

To summarize, we provide the following services:

• identification of the requested information in order to apply the IFRS/IAS principles, for every industrial sector;
• selection of the best accounting policies, with reference to the relevant performance indicators to each specific company;
• assistance in the identification adjustments and reclassifications to carry out in order to execute the conversion from the Italian and/or accounting Group principles to the IFRS/IAS;
• assistance in the drafting of the Explanatory Note according to the IFRS/IAS rules;
• integration and modification of IT systems, of the budget, of the internal reporting, for the data collection requested in order to draft a IFRS/IAS balance sheet;
• development of the new group manual, in order to inform the peripheral units about the new requirements of the IFRS/IAS balance sheet;
• basic and advanced training courses on the IFRS/IAS principles, for every industrial sector, using CD supports or in the classroom, in order to ensure adequate training of the personnel involved in the IFRS/IAS Transition;
• assistance together with tax experts, actuaries, lawyers, in order to solve new and complex issues connected with the IFRS/IAS transition;
• assistance in the purchase price allocation of a company or of a going concern ("purchase price allocation").

ANTI-FRAUD SERVICES AND ASSISTANCE IN THE LAWSUITS

The number of companies vulnerable to frauds have increased over the last years, as well as the extent of damage caused by frauds has increased.
The carrying out of an investigation about possible or real frauds needs always both the appointment of an auditor specialized in investigation areas and the use of advanced electronic data analysis tools. If we take in account that frauds crimes are often cross borders, the investigation and data collection activities should be carried out by professionals based in different states. Moreover, in order to win in a legal proceeding for fraud is essential to deposit a technical expertise drawn up by a respected accounting expert.