NEXONTIS is a partner of leading banks and financial institutions across Europe.  Our industry experts can help you make the most of the dynamic market environment for your company.  In addition to our expert business knowledge we also have experience in many successful projects in the area of banking management.  Use our skills to your advantage to achieve high quality results that can gain a decisive competitive edge.

IFRS/IAS
The ongoing translation of International Financial Reporting Standards (IFRS) into national law has meant that many companies have had to produce their financial reports according to IFRS since 2005.  In addition to the IAS provisions of 2006 / 2007, the ongoing changes associated with new and changing provisions regarding both IAS and IFRS mean that internal and external accounting are pushed closer and closer together, leading to extensive technical and organizational changes.

Basel II
The introduction of Basel II in late 2006 is the most significant change to banking supervisory laws since the late 80s.  In addition to the new Basel capital regulations, many national and international laws and regulations must also be implemented.  Examples of such include MaRisk (minimum requirements on risk management), Committee of European Banking Supervisors Guidelines (CEBS), Solvency, Liquidity, credit and financial reporting.

Statutory Reporting
The reformation of reporting requirements and their adaptation to Basel II have lead not only to changed reporting regulations (first and second principles, trading book positions etc.) and new banking statistics (EMU interest rate and deposit statistics), but also to additional reconciliation requirements when it comes to reconciling figures between regulatory reporting, Basel II disclosure and IFRS.  Together with the double burden of the transitional floor calculation using the available regulatory reporting infrastructure in parallel to Basel II, these requirements are moving the industry towards a fundamental reorientation of the entire reporting process.

Consolidation
Consolidation is also affected by the new standards coming from the areas of IFRS, Basel II and regulatory reporting.  Consistent valuation and processing across all subsidiaries together with the uniform interpretation of options can be achieved via far reaching strategic, business and organizational unifications.

M&A
IFRS stipulates that all mergers must be accounted for using the purchase method.  The purchaser therefore assigns the fair value to all identifiable assets, liabilities and contingent liabilities that applies at the time of purchase.  In the same context, intangible assets such as goodwill are not amortized but instead assessed to determine whether any real depreciation has occurred.   These requirements mean that it is often desirable to build a new technical platform that supports semi-automatic processing of such methods in order to carry out such revaluations efficiently.

Asset Liability Management
As the global economy becomes more and more dynamic there are increased demands on company stability.  This means that it is no longer feasible to assess risks associated with assets and liabitilities separately of one another.  The control over assets and liabilities together is being combined so as to ensure the current and future financial stability of the company.

Revenue and Cost Accounting
To meet the ever increasing expectations of the capital market it is necessary to have systems and structures in place that can deal with revenue and cost accounting.  Costs and benefits can be classified according to type, location and cause which is a prerequisite for identifying key measures to enhance efficiency within a company.

Management Accounting
Management accounting is the basis for company decisions and is derived from detailed cost and revenue accounting.  It enables integrated reporting from actual and plan numbers per day, month, quarter and year.  In this context it is important for both operational and strategic company planning and management.

Individual and global adjustments 
Early failure detection based on extensive qualitative and quantitative criteria – together with associated risk-adjusted depreciation – leads to optimum protection of capital.  Given the convergence of IFRS, Basel II and regulatory reporting, together with their joint requirements on accounting, notes reporting, risk calculation and disclosure, this task can only be achieved through aligning process across all relevant departments.