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Statutory reporting tied out to the consolidation, note by note.
We survey how your accounts, your notes and your filing calendar are built from the consolidation today. The price to tie them together is fixed after that survey.
Statutory reporting produces the accounts a group files, from the same figures the board read.
Statutory reporting produces the accounts, the notes and the filings a group owes under its framework, from the consolidated result the board has already seen. Constancia, an EPM consultancy, builds that tie-out for multi-entity groups with a filing date and a consolidation that does not yet reach the notes.
Companies House gives a private company 9 months from its year end to file its accounts, and a public company 6 months. The late filing penalty doubles when a company files late in 2 successive years.
Where a workbook builds the notes from 1 read of the consolidation, a late journal changes the balance sheet and leaves the notes behind. The auditor finds the difference, and the group reporting accountant rebuilds the notes over a weekend.
3 joins decide whether the filed accounts agree with the consolidation the board saw.
Each join is a place where a figure leaves the consolidation and lands in a document by hand.
01
The tie-out runs from the consolidated balance to every note that quotes it.
Every figure in the notes reads from the consolidation through a defined line, so a late journal reaches the note and the balance sheet. The disclosure pack rebuilds itself when the consolidated result changes.
- Primary statements and notes from the same consolidated cube, on the same date
- A segment note that adds back to the group total by construction
- Comparatives from last year's locked period, never retyped
02
The filing calendar lists every entity's deadline, and the group calendar answers to it.
Each entity has its own framework, year end and filing deadline, and a group with entities in 4 countries has 4 calendars. The platform holds them as 1 dated list, and the close calendar backs off from the earliest.
- Companies House, HMRC and each overseas registry on 1 dated list
- A statutory close for each entity, reading the ledger the group close read
03
The audit trail lets the auditor test the figure the board read, in the platform.
Every figure in the filed accounts carries the journals, the rates and the eliminations behind it, and the auditor reads that trail in the platform. The person who signed each step is named beside it.
- Lineage from the filed note back to the entity ledger line
- A locked period, so a post-audit adjustment is a dated entry
- 1 signatory per statement, recorded with the date
- The auditor's own login, with read access and no export by email
5 stages tie the filed accounts to the consolidation, and both sets are produced once in parallel.
- 01
Survey
We read last year's filed accounts back to the consolidation note by note, and mark each figure that was typed rather than read.
- 02
Price
We fix the price on those marks, and a note with no route back to the consolidation is already inside it.
- 03
Design
The design names each statement, each note and each filing, with the consolidated line it reads and the person who signs it.
- 04
Build
The consultants from the survey build the disclosure pack and the filing calendar on OneStream (EPM software), on the consolidation the board pack already uses.
- 05
Parallel run
Your team produces 1 year end both ways, in the workbook and in the platform, and files from the platform when the 2 sets agree.
The consultants who read your filed accounts in the survey are the consultants who build the disclosure pack.
4 conditions mark a group whose statutory reporting we take on.
- 01
Entities filing under more than 1 framework
The group reports under IFRS and the subsidiaries file under FRS 102 or a local GAAP, so 1 ledger line feeds 2 sets of accounts.
Read about consolidation - 02
Notes built in a workbook
The disclosure pack reads the consolidation once and by hand, and every late journal has to be carried into it again.
- 03
A first filing with a hard date
A first year as a listed company, a first group audit or a new subsidiary's first statutory close has a date on it.
Read about the tax provision - 04
An auditor asking for the trail by email
The audit runs on samples sent as attachments, because the platform cannot show where a filed figure came from.
Read about narrative reporting
A single entity filing 1 set of accounts from its ERP has the tie-out its software already provides.
Statutory reporting runs on OneStream, and the number of frameworks decides which edition.
OneStream (EPM software)
The full platform, for a group filing under several frameworks
- For a group with IFRS at the top and local GAAP entities beneath it
- Statutory, management and tax views of 1 consolidated result, with the adjustments between them recorded
- A disclosure pack and a filing calendar in the platform the auditor reads
OneStream CPM Express
The standard model, for a mid-market group under 1 framework
- For a group filing under FRS 102 or IFRS across a handful of UK entities
- A consolidation and a statutory pack already built, configured for your chart of accounts
- A move to the full platform when a second framework arrives
Constancia is an official OneStream partner, and our certified consultants build both editions.
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