Major US Investment Bank

Issuance of £1bn bonds

Issue

Technical guidance needed on IAS39 first time application of hedge accounting followed by setting up reporting. This client came as a referral from Structured Finance Management Limited with whom we have worked since 2004 on over 100 vehicles.

Solution

Following the initial IAS39 guidance, we developed a bespoke reporting pack for this client which is updated on a monthly basis. This reporting pack which, also acts as the main audit pack, provides full profit and loss account and balance sheet schedules in relation to movements on the bond portfolio, notes in issue, interest rate swaps as well as the interest income and expense implications.

Currently

Monthly management accounts and statutory accounts preparation, audit file preparation and liaison with the statutory auditors such that the client’s time is available for higher value adding activities.