Sovereign Wealth Funds

We combine global perspective and industry knowledge to be an effective solution provider

乐鱼（Leyu）体育官网 has a very strong presence in the UAE鈥檚 SWF and PE sectors. The local firm has successfully executed a number of landmark projects.

We assign a single point of contact for the firm鈥檚 client. This enables us to bring together the knowledge, leadership and experience of the firm鈥檚 combined services from across our global network.

乐鱼（Leyu）体育官网鈥檚 A&F practice strives to provide exceptional service, gained by working with experienced professionals who bring specific industry knowledge and an international perspective to each engagement.

Key Success Stories

Project integration

The firm鈥檚 client, a sovereign wealth fund in the UAE, acquired another group and needed to align the financial reporting process.
The challenge included differences in accounting policies and an absence of integrated chart of accounts (CoA) to capture and reflect all required transactions, e.g. intercompany accounts and related parties, specific banking transactions.

乐鱼（Leyu）体育官网 conducted a gap assessment performed of the two groups鈥� accounting policies for consolidation purposes, releasing a consolidated accounting policy.

乐鱼（Leyu）体育官网 assisted in the accounting for the acquisition and consolidation of the two entities under IFRS 10 鈥楥ontrol Assessment鈥�. We also performed intra-group transactions and balances analysis basis information received from the entities and captured related intra-group adjustment guidance.

Setting up a financial reporting framework

The firm鈥檚 client, a holding company of a leading SWF, sought to comply with various reporting requirements, externally and internally. To achieve this, our client had to develop and implement a sound financial reporting system, process and framework.
The client requested 乐鱼（Leyu）体育官网鈥檚 assistance in preparing an opening balance sheet, including:

鈥� Mapping subsidiary financial statements assessment of controls
鈥� Setting up the financial close calendar
鈥� Establishing IFRS 8 segment reporting framework and templates
鈥� Establishing group accounting policies

乐鱼（Leyu）体育官网 approached each challenge by reviewing subsidiaries鈥� financial statements, identifying differences in accounting policies between subsidiaries, establishing accounting policies capable of aligning with those of the subsidiaries, performed mapping of subsidiaries鈥� financial statements, developing a financial statement framework (balance sheet and related schedules), and developing a consolidation excel-based tool.

乐鱼（Leyu）体育官网