Keily Funds Solutions

Established in 2007, and now an associate company of OBK Accountants Ltd, Keily Funds Solutions provides a range of flexible, cost effective services to Investment Managers, Fund Administrators and other financial services organisations, giving them access to a superb range of skills and experience. KFS now forms the financial services and funds industry division of OBK, and is led by Mary Keily, supported by a panel of experienced consultants.

Services

Outsourced Financial Statements Preparation

Preparation of financial statements for investment funds can be very challenging and time consuming. Multiple regulatory requirements and accounting GAAPS need to de dealt with, in addition to auditor and client requirements.  Outsource to us, with confidence that a quality end product will be delivered.

Financial Reporting Supervision & Review

Quality control reviews before drafts are sent to auditors and clients can dramatically reduce the volume of errors and corrections. Reviews of financial reporting procedures and quality control standards, and cold reviews of financial statements can also be conducted, in order to provide recommendations for improvement.

Audit Support

We have extensive experience from both a “big 4” audit firm perspective and from a fund administration and financial reporting perspective. We are in a unique position to assist in the audit process, in terms of managing the process from a client or administrator perspective and resolving issues and problems that arise. We can facilitate the smooth running of the audit and ensure that deadlines are met and client requirements are satisfied.

Outsourced Management Company Services

We provide accounting, taxation and company secretarial services for funds management companies to ensure all compliance requirements are met in a timely manner.

Technical Support

Let us help with technical accounting queries and issues arising during the preparation, review and audit of financial statements, or from inspections and reviews by regulators. We have the specialised knowledge to provide answers to difficult questions and to provide detailed guidance on the implementation of new accounting standards. We can also provide help in terms of correspondence with regulators and auditors and with on site regulatory visits and audits.

Investigations

There is tremendous value in using the skills of independent, impartial investigators in dealing with accounting issues, potential NAV errors, and other discrepancies. Unravelling the details of such issues can be difficult and time consuming. We can use our practical accounting and operational experience to resolve complex issues.

Liquidations

We can assist in the effective, orderly and cost efficient wind up of Irish Investment Companies and management companies. An experienced industry consultant can be made available to act as Liquidator in a members' voluntary liquidation.

VAT reclaims

Irish funds can reclaim VAT paid (for example on audit and legal fees) if a portion of the fund’s assets are located outside of the EU. Funds are also obliged to register for VAT and self account for VAT if they receive certain services from outside of Ireland.   We can assist funds to reduce expenses by registering for VAT, performing VAT reclaim calculations and submitting VAT returns.

Independent Directors

A number of our consultants have extensive practical experience in the funds industry, including audit, accounting and operational experience. This experience, together with their professional qualifications and integrity, place them in an excellent position to act as independent non executive directors. Their skills, experience and understanding of the funds industry will enhance any board of directors. They are ideally positioned to add the appropriate degree of knowledge and experience to a board of directors, to ensure that appropriate corporate governance standards, excellent financial reporting quality and robust service provider monitoring are maintained.

 

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