Brazil
Robinson has spent the past several months setting up a Brazilian subsidiary including ensuring proper legal structure/ownership for a foreign entity, obtaining the proper registrations with Federal and State authorities, administration set-up, establishing financial, administrative and business controls and routines, and investigating Transfer Pricing policies for the subsidiary. A full list of services appears below:
• New market entry in Brazil – local contacts, legal structure, registrations, company set-up, admin & processes
• Implement a reporting system that delivers monthly BS, PL and CF reports 5 business days after the end of each month. Budget, forecast preparation for next 12 months. Comparison of actual and budgeted results
• English language training for employees – course tailored to include accounting and finance terms
• Risk management
• Cash protection in an inflationary environment – Hedge cash in bank against inflation
• Consult on best TP policy for Brazilian entity
• Ensure proper income tax choice
• Liaison with payroll provider – ensure routines are followed and working. Check controls
• Liaison with accounting provider – ensure routines are followed and working. Check controls
• Establish appropriate balance between compliance and risk-based efficiency, e.g. in accruals, statutory filings
• Establish and implement a reporting system for Key Performance Indicators for Brazilian entity
• Establish/improve sound routines for closing the books each month and to prepare statutory financial accounts as well as supporting the preparation of management accounts with Brazilian service provider
• Process implementations of
o Revenue controlling, controls, reconciliation sheet, reality check
o AR, controls, reconciliation sheet, reality check, aging report analysis
o Purchases, controls and routines
• AP, routines for payments, controls
• Set-up Bank authorizations to ensure final control in HQ country
• Assistance with Collections routines
• Ensure compliance with labor laws
o Mandatory workplace programs
o Coordinating health & life insurance programs for employee’s
• Facilitate process improvements, including standardization and leveraging automation and systems (requires IT and systems assistance from Company’s financial systems personnel). Automation of controls wherever possible. Engineer the controls into the processes!
Additional:
• Liaise with and manage external/local accountants, auditors, tax authorities, etc
• Interim CFO or MD (as required by law)
• Budget, forecast preparation for next 12 months. Comparison of actual and budgeted results
• Interim CFO as well as Strategic work
• Merger/Acquisition preparation, e.g. creating the historical accounting and key business metrics that will help tell the business’ financial story, coordinating information with the investment banker, preparation of financial data room