Two markets

A group headquartered in Nigeria with a UK subsidiary needed its finances managed across two jurisdictions with different rules and currencies.

The hard part of this structure is keeping financial control across the whole group, not just producing two sets of accounts. If the entities work to different reporting cycles, intercompany activity goes unreconciled, or information is prepared to different standards, leadership cannot see the business clearly enough to manage it as one group.

The SME CFO ran the accounting and compliance for both entities on a single reporting cycle. Intercompany positions were reconciled, and each set of books was maintained to its own regulator’s standard.

• We established the close timetable and responsibilities required for both entities to complete reporting on schedule.
• We coordinated information across the Nigerian and UK operations, applied a consistent group reporting approach, and translated the two entities’ activity into a single management view.
• We managed the relevant compliance calendar and supported leadership with regular reporting on performance, cash, intercompany positions, and outstanding obligations.

Both entities stayed compliant and closed on schedule. The leadership team ran the group from one reliable set of numbers.

A reliable group reporting rhythm gave the leadership current, group-level numbers to run the business across two markets and act on problems earlier.

The group had a stronger foundation for board reporting, external finance discussions, and future expansion because its financial information was organised around the group as a whole, not around disconnected entities.