Reporting accountant
Where a company is seeking admission to Aim, the reporting accountant's main responsibility is to carry out due diligence on the company's financial position and report these findings to the Nominated Adviser (‘Nomad').
The Nomad will then use this information to:
- help determine whether the company is suitable for Aim
- the reporting accountant is independent of the
- company looking to list on Aim and can therefore
- provide a thorough and impartial assessment of its
- financial condition
What does the work involve?
The work produced as a result of its deliberations usually comprises the Accountants' Report (short form), the working capital review and the long form report. Each report is presented to the directors for comment before being finalised.
- the short form report - is part of the admission document and sets out the historic financial information on the company. It includes an opinion from the reporting accountant that the financial information is true and fair for the purposes of the admission document
- working capital review - looks at forward looking financials to ensure that the statement made by the directors in the admission document that the company has sufficient working capital after listing has been made after due and careful enquiry.
- long form report - is a due diligence report on all relevant financial aspects of the company looking to list and will be prepared based on a scope set largely by the Nomad
Our experience
We provide reporting accountant services through Nexia Smith & Williamson, an independent company which works alongside Smith & Williamson to complement its specialist financial advisory services.
We have acted as reporting accountant on more than 75 occasions, highlighting potential pitfalls or bottlenecks and advising on suitable solutions early in the admission process.
Contact us
Mike Bishop
tel: 020 7131 4226
email: Mike Bishop
Philip Quigley
tel 020 7131 4304
email: Philip Quigley
David Hunt
tel: 020 7131 4477
email: David Hunt
