Accounting Advisory

PwC Accounting Advisory will assist you in finding the right accounting solutions, taking into account the reporting objectives, commercial realities and ever-increasing regulatory requirements. If you are facing complex accounting issues, for example during ongoing acquisition activities, restructuring or when faced with temporary staffing needs, we can support you.

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How can we help you?

Financial Reporting Support

The responsibility to comply with complex and extensive financial reporting requirements can be draining on the finance team’s time and resources, especially with high expectations from market participants, regulators and the intensifying complexity of business models and transactions.

Audit Committees and Board of Directors are also demanding increasingly more from their finance reporting teams, including transparency of disclosure, alternative performance measures and financial reports finalized shortly after the reporting date.

Our Financial Reporting team combines broad industry experience with technical capability to solve your financial reporting issues. Our comprehensive understanding of all aspects of the financial reporting process will meet both internal and external expectations.

Our services include:

  • Preparation of annual and interim financial reports, ensuring full compliance with relevant accounting frameworks (IFRS, NGAAP or USGAAP).

  • Financial report quality improvements, safeguarding compliance, quality and relevance to financial statements and note disclosures.

  • Impact assessments from implementation of new reporting standards and accounting principles. 

  • Technical accounting documentation, assessing the financial statement effects from any events or transactions.

  • Analysis of the accounting treatment of complex transactions, M&As or group simplification, carve-out, preparation of Group accounting policy manuals, and policy reviews. 

  • We can also provide technical training and knowledge transfer to your organization, and help you with your communication with your auditor.

Financial Instrument Advisory

Financial instruments have been subject to significant accounting changes in recent years, resulting in new quantitative and qualitative models for measuring, reporting and disclosing financial instruments. The impact from financial instruments does not only affect the financial statements, but also risk management procedures, business models and the financial performance of your business.

Our team of reporting professionals will help you in applying all the relevant financial instrument standards:

  • Help your business in developing tailored hedging strategies, the supporting hedge documentation and the relevant accounting principles.

  • IFRS 9 compliance for financial institutions. 

  • Support with complex contract review, and the subsequent classification and measurement for financial instruments.

  • Develop a forward-looking expected credit loss model that will provide timely loss recognition in accordance with current requirements.

  • Calculation of amortized cost measurements, including the effects from early settlement, modifications, currency exchange effects and debt restructuring

Accounting Change Support

The last few years have seen the implementation of comprehensive and complex new financial reporting standards and the efforts by the IASB and FASB to converge accounting requirements across a number of key topics will further drive significant changes over the coming years. These changes will inevitably impact the way companies conduct business and track, measure and report various transactions and investments. 

PwC’s Accounting Advisory team is well positioned to help you implement new accounting standards by providing timely advice on the impacts of accounting changes, assist you with choosing the optimal transition method and with the development of an implementation roadmap. We can also provide technical training sessions to equip your team with the knowledge to navigate new standards successfully.

Our team of specialists understands that the pace of the changes are swift, the volume is significant, and that it can be hard to keep up with all the requirements and potential impacts. We will work closely with you to understand the potential implications of the accounting changes for you and the potential business decisions that may be necessary. Our cross functional teams can provide insight into the impact on general control environment, systems and processes, and business integration.

Our team has extensive experience with complex standard implementation processes, and can help you in all stages of your project.

IFRS Conversion

Adopting IFRS will affect many aspects of your organization and it requires a transformation that involves employees, processes, and systems.

While implementing IFRS is challenging, our team will help you plan and manage the process properly. We believe that a well-managed conversion process will bring about substantial improvements in the performance of the finance function, streamline the statutory financial reporting process, enhance internal controls over financial reporting, and ultimately reduce costs.

Our services cover all aspects of the implementation process, from initial planning to the post implementation monitoring phase.

Consolidation Services

Our PwC Consolidation team is mainly supporting small to medium sized businesses with limited in house financial reporting capacity, and we work diligently to develop consolidation solutions uniquely tailored to meet your requirements.

We have experience with all types of consolidations, from special purpose financial reports to full annual reports in compliance with IFRS, Norwegian GAAP or USGAAP.

Our team can provide the following consolidations services to you: 

  • Preparation of customized consolidation reporting packages for group consolidation reporting purposes

  • Review of local reporting packages before Group reporting

  • Full preparation of consolidated annual or interim financial under relevant reporting framework.

  • Preparation of combined statements for jointly controlled companies

  • Assistance to clients in dealing consolidation matters with auditors

  • Conducting consolidation trainings to client staff, ensuring knowledge transfer to the organization to support ongoing reporting

IFRS 16 Leases

Our IFRS 16 Leases team has extensive experience in implementing accounting change projects related to the new lease standard, and we are well positioned to support your transition to IFRS 16.

We can offer a flexible approach to support each stage of your implementation project, and our accounting specialists will provide a customized solution developed for your needs.

Our services include:

  • Initial implementation analysis

  • Transition options, IT-systems selection, practical expedites, accounting policy choices, and the post transition accounting policies.

  • Our reference clients includes both public and private entities from a wide range of industries and we can provide peer-analyses indicating the policy decisions and implementation effect of similar entities.We can support your organization with understanding the requirements of IFRS 16 and advice on 

  • Accounting policies decisions: We can prepare policy analyses mapping out the financial statement impacts from selecting the various implementation options and support you in preparing your IFRS 16 accounting policies.

  • Project management: We can advise on your implementation project plans and have the competency to perform as project managers throughout the whole implementation phase.

Contact us

Owen Lewis

Partner, Oslo, PwC Norway

+47 952 60 209


Sjur Holseter

Partner, Oslo, PwC Norway

+47 952 60 278