Independent Trust and Corporate Services Provider

Financial Reporting and Accounting Services

Safe guarding and supervision of financial information, accurate and regular reporting of accounting information, production of annual financial statements, compliance with regulatory reporting obligations and efficient management of financial administration functions are critical to the success of our clients’ businesses.

Cafico International has the expertise to provide our clients with high quality financial reporting and administration solutions, tailored to meet each client’s internal and external reporting obligations and corporate governance needs. Thereby ensuring that each of the client companies statutory obligations are met.

Financial Reporting and Accounting Services Offered:

Management Reporting, Statutory Financial Statements and Group Consolidation

Our clients look to us to maintain their local books and records and those of the subsidiaries of their Irish companies in accordance with Irish company law and financial reporting requirements. In collaboration with our clients, we also design and implement internal controls and reporting protocols.

Clients regularly engage Cafico International to assist with the implementation of a bespoke accounting package or a customised accounting system tailored to their specific requirements and when we are engaged to provide a dedicated outsourced solution to international businesses establishing a presence in Ireland, accurate and timely reporting is a critical part of the package.

As part of our tailored solution, we are experienced in providing periodical management accounts for our clients as well as preparing financial statements and liaising with local auditors to ensure the timely production of annual consolidated financial statements in accordance with our clients’ financial reporting timelines.

Budgeting, Forecasting and Cashflows

Further to our management accounts offering, we can assist clients’ planning through the preparation of budgets and forecasts and cashflow reports.

Tax Registration, Administration and Statistical Returns

We liaise with the Office of the Revenue Commissioners on behalf of our clients to ensure timely registration for Value Added Tax (“VAT”), Corporation Tax and Payroll Taxes and assist our clients thereafter in the processing and submission of the relevant forms with the local tax authorities and the online payments in respect of such returns in an agency capacity on behalf of our clients.

We prepare and submit VIES and INTRASTAT returns for our clients.

Cash and Treasury Management

We assist with the opening of bank accounts and the fulfilment of relevant compliance obligations and, as when required, we also assist with the management and administration of the bank accounts opened on behalf of our clients.

We provide the full suite of bank account administration such as payment processing, funding management, transfer handling and bank account reconciliation and assist clients in maintaining an overview of their various accounts held across multiple currencies and jurisdictions.

Accounts Payable and Accounts Receivable Management

As part of our cash and treasury management services, we also assist clients in actively managing the cashflow of their businesses by providing bespoke accounts receivable and accounts payable reporting and management.

Fixed Asset Register

We assist clients through the maintenance of fixed asset registers, recording and tracking assets through their useful life or until disposal. Details captured include warranty, insurance, percentage business use, physical location and salvage value information.

Payroll Services

The key asset of our clients’ companies is their staff. We assist our clients with the preparation of all payroll calculations in respect of the employees of the company, including the monthly PAYE and PRSI liabilities arising and the completion and submission of the monthly P30’s and the annual P60’s and the annual P35 in respect of such employees and the submission thereof the local tax authorities.

We also assist clients’ in the issuance of payslips and a detailed breakdown of the taxes payable and where applicable, the procurement of PAYE exclusion orders.

Regulatory Reporting

FVC – As part of our structured finance services, where the reporting requirements of an SPV that we are engaged to administer are such that it falls within the remit of Regulation (EC) No. 24/2009 of the European Central Bank – Financial Vehicle Corporation Regulations (the “FVC Regulations”), we assist such clients in acting as their reporting agent and attending to the preparation and submission to the Central Bank of Ireland of the quarterly FVC Returns on behalf of the SPV to assist it in complying with the FVC Regulations.

EMIR – In circumstances where an entity that we administer or manage has entered into derivative transactions, we will assist in attending to the requisite European Market Infrastructure Regulation (“EMIR”) reporting obligations as required under Regulation 648/2012 on OTC Derivatives, Central Counterparties and Trade Repositories.

FATCA and CRS Registration – We will assist our clients in determining whether or not they are classified as Reporting Irish Financial Institutions (“FFIs”) under Ireland’s intergovernmental agreement with the US, with potential registration and reporting obligations. And, as required, perform Foreign Account Tax Compliance Act (“FATCA”) registrations and reporting in instances where accounts are held by US persons. In addition, we will attend to the registration and compliance with the Irish Common Reporting Standard Regulations (“CRS”) of the SPV in determining whether it is classified as a Reportable Financial Institution (“RFI”) or a Non-Financial Entity (“NFE”).

Specific Projects

We assist clients with ad hoc projects, for example, reorganising accounting systems, data migration, US GAAP reconciliations, assisting with the implementation of accounting software packages, and establishing accounting control procedures.