Mollay is highly concerned in how we do things, how we innovate, collaborate, operate and deliver value. It’s how we interact with our clients—and each other. From giving back to the communities where we work and live, to inspiring our people, to serving our clients and creating value for our shareholders — in everything we do, we deliver high performance.
We are focused on maximizing our differentiation and competitiveness, and continue to make significant investments in the areas of training, acquisitions, emerging technologies, offerings and assets, and more.
CONTENTS
6 . ABOUT 8. PEOPLE 10. SERVICES 12. AUDIT 14. ACCOUNTING ADVISORY 16. RESTRUCTURING 18. ASSURANCE SERVICES 20. RISK CONSULTING 22. TRAINING 24. CHAIRMAN WORDS
ABOUT
Mollay is a leading provider of professional services, including audit, tax and advisory specialisms - delivering integrated solutions to our clients’ issues. In the UK, we have over 12,000 partners and staff working in more than 20 offices. Being part of a strong global network of member firms gives us a truly global mindset. With passion and purpose, we work shoulder-to-shoulder with you, integrating innovative approaches and deep expertise to deliver real results. How do we stand out from the crowd? We are passionate about the strength of our brand and our vision - to be the clear choice for our clients and our people, through the benefit we bring and the results we achieve. We want to attract the best talent, win the best mandates, do the best work for the best clients and become the professional services firm most trusted to deliver. To do this, we work by a set of values that enable us to live out our purpose of inspiring confidence and empowering change for our colleagues and the organisations we work with.
PEOPLE
Our people are at the heart of everything we do. They are our greatest asset, helping us to stand out from the crowd and become the clear choice for our clients. We can only achieve our vision if our colleagues, contractors and sub-contractors feel committed to each other, the Firm and our common goals - and we’ve worked very hard to make this a priority. We work hard to offer the great opportunities available for our people to widen their experience and grow their careers, Mollay in the UK is a business that rewards people’s performance, hard work and commitment. And with an innovative and industry-leading package of total rewards called Our Deal - which includes preferential banking and mortgage arrangements, help with student loan payments and a day off on your birthday – we are the clear choice for talented people. There are over 12,000 colleagues working at Mollay in the UK, from graduates to highly-experienced managers and partners. Diversity of background, diversity of experience, diversity of perspective... An inclusive culture is critical for our business to thrive and grow, which is why we’re committed to inclusive leadership right across our organisation. We want to bring about a positive integration between work and life that not only promotes career achievement but also provides an environment that enables everyone, regardless of gender, ethnicity, age, disability, religion or sexual orientation, to feel valued for being themselves.
SERVICES
Mollay is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. We help organizations maximize their performance and achieve their vision. We develop and implement technology solutions to improve our clients’ productivity and efficiency—and may run parts of their operations on their behalf. Ultimately, we enable our clients to become high-performance businesses and governments. Is where we shape our clients’ future… combining deep business insight with the understanding of how technology will impact industry and business models. We operate at the intersection of business and technology, bringing together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprisewide transformation. Our consulting services comprise the people who work in our five operating groups: Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources. They are industry experts with the insights and capabilities to help transform the world’s leading companies. Accenture Consulting orchestrates and brings together the best of Mollay from across the organization, and has primary responsibility for building and sustaining long-term client relationships.
AUDIT
The audit and assurance landscape is changing. Regulatory requirements, coupled with increased stakeholder demands for greater transparency are putting more pressure on organisations. As a result, the issue of audit and assurance is high on the agenda for many boards. At Mollay, we believe we have a responsibility to continue our work in building trust in corporate reporting. We have introduced a new approach to the audit report, which goes far beyond regulatory demands for greater disclosure and aims to increase transparency and help to rebuild confidence in corporate reporting. We have been investing in the use of innovative data and analytics technology to enhance our ability to challenge assumptions and provide deeper insights. We are also leading the debate on the future shape of corporate reporting through our Restoring Trust initiative. By engaging with a wide range of stakeholders – to understand their views and corporate reporting requirements – we are looking to better serve the capital markets and society as a whole. Internal Audit Enhanced clarity and a deeper understanding of your business. These are the key objectives of an internal audit. Today, organisations face unprecedented pressure and risk. Increased regulation, the complexities of operating globally, consumer demands and economic and political volatility all present tough challenges. The importance of an effective and forward-thinking internal audit function is paramount. It has never been higher on the boardroom agenda. At Mollay, we work with internal audit committees and their heads to develop quality internal audit functions that deliver strategic business assurance, identify opportunities and enhance value.
ACCOUNTING ADVISORY
It’s more important than ever for your organisation to obtain specialist technical accounting advice. Expert accountancy guidance and support can not only help your business adapt to new demands, but it can also promote wider success. At Mollay, our accountancy teams are committed to helping you reach the right accounting solution, in the context of reporting objectives, commercial reality and regulatory requirements. Our accounting advisory professionals bring indepth technical accounting knowledge, capital markets insight and substantial industry experience. We provide training, restructurings and group simplifications, financial statement reviews, policy manuals, GAAP conversions and impact analyses of new accounting standards across a range of industries. We also provide specialist support and advice to the financial services industry, including banks, insurance companies, investment funds and asset managers. We are experienced in advising clients on challenging, complex issues arising from transactions, business decisions and regulatory changes. Our specialist teams can also provide guidance on joint ventures, strategic alliances and partnerships at all stages from creation through to exit.
RESTRUCTURING
Are you concerned your group structure no longer supports the way your business is managed? Perhaps you want advice on the accounting implications of a restructuring plan? Or do you need to create additional distributable reserves or access existing ones? We can work with you and your clients, from planning through to implementation, ensuring that a proposed restructuring or group simplification is implemented in the most efficient manner and that all potential pitfalls are identified and addressed early on. By investing time in getting to know your business, we ensure that you will have the answers that reflect your business needs. Your issues •
A number of companies within the group currently create ‘dividend blocks’
which limits the amount of dividends you can pay to shareholders. How can you create additional distributable reserves or access existing reserves? •
You are happy with the tax implications of a proposed restructuring, but how
can you get comfortable with the accounting implications? •
You are not sure that you are restructuring in the most effective manner –
are there alternatives that may reduce P&L volatility? •
The group has evolved over time, and the legal structure no longer supports
the way the business is managed. There are a large number of redundant / dormant companies which require time and effort to maintain, for little benefit. How can you address this situation? Examples of how we can help Our dedicated team can: •
Review the distributable reserves position of each company within a group
ASSURANCE SERVICES
Accurate information is crucial for business decisions and business leaders need assurances beyond that provided by financial statement audits. Deciding which risks to take is a challenging task. It can be even more difficult if you’re concerned about systems or processes that are inaccurate, ambiguous or even unknown. Without the necessary assurances, you can’t be sure you have the right level of governance and risk management. At Mollay, our assurance service will help your business mitigate risk and capitalise on new opportunities. We take a rigorous approach to the areas of your business that can be difficult to quantify or measure. We deal with complex situations and provide assurance where there is uncertainty. Do you recognise the business presented in your Annual Report / 10K? Does it really tell your investors whether you’ve had a good year? Corporate reporting is evolving to provide investors with a broader perspective on business performance to address these questions. Whether you’re trying to stay ahead of reporting requirements, or just want to give a better account of your business’s performance, Mollay’s Better Business Reporting Group can help you to align your reporting with what’s important to your business. Narrative reporting content in Annual Reports is receiving growing focus from investors and regulators alike. Preparers are increasingly being asked to focus on the matters most relevant to the future of their business, rather than following a list of prescribed disclosures. The result is much greater emphasis on the business model and strategy as a basis for reporting. But building a report around your business strategy can be daunting without the comfort-blanket of a disclosure checklist. For those that succeed, the potential reward is a more concise report that is focused on the key drivers of business value – one that is better equipped to support an effective investor dialogue. We look at what makes a good report.
RISK CONSULTING
Managing risk well is strategically important and essential to the success of your business. Amid mounting concerns about geopolitical, reputational and regulatory risks, many businesses are struggling to manage the threats they face. Effective risk management processes need to be embedded into core decisionmaking. We’ll help you to make confident, well-informed choices that drive more value and deliver outstanding results. We have market-leading teams, technologies and solutions to help your business manage risk effectively - and maximise the opportunities it can provide. Starting in the boardroom and working across your entire business, our Risk Consulting team are experienced in managing diverse risk issues including: fraud & financial crime, regulatory compliance, data breaches, cyber-attacks, technology risk management, risk frameworks and modelling, capital efficiency, corporate governance, dispute resolution and many more. In the UK we have over 1,400 risk specialists who are supported by our wider global network to ensure multinational capability. Our experts include accountants, technologists, economists, actuaries, data scientists, lawyers, mathematicians, ex-regulators, law enforcement personnel, forensic investigators and pure risk specialists making sure you are best placed to make the right decisions at the right time. Financial Risk It’s clear that the complexity, volatility and scrutiny facing financial sector institutions are requiring them to look at risk and regulation differently, changing and shaping their businesses accordingly. Yet, understanding – and taking control of – these challenges doesn’t only prevent bad things from happening.
TRAINING
Are you concerned about keeping your finance team up-to-date with the latest developments in accounting and reporting? Our team of expert trainers can complement your own internal development programmes, providing information to those who require it, when they require it. Our training will be designed to suit your unique circumstances; training individuals, or small or large groups through on-line or more traditional classroom methods. Your issues •
How can you keep your global finance teams up-to-date on accounting
developments? •
How can you ensure that your M&A teams understand the impact that
alternative deal structures will have on group results? •
You understand that changes in accounting requirements will affect results,
but how can you ensure that your sales team are aware of how these changes will impact on their activities? Examples of how we can help We provide training that is: •
Tailored to suit your needs;
•
Delivered by specialist accounting presenters with robust technical skills who
are used to dealing with the practical application of accounting requirements; •
Truly engaging for participants through the use of worked examples and case
studies; •
Delivered in different formats including web based training for
geographically spread finance teams, classroom based training and one-on-one sessions.
Everything we do to execute our strategy and deliver our vision comes to life through our approximately 373,000 people.
“Our industry is in the midst of historical change: the statutory audit is being overhauled at home and internationally; the tax debate is hotly contested and the demand from business for independent consulting services in transformation, risk, technology and corporate finance is huge. We have introduced audit opinions which go beyond regulatory requirements to meet investor needs better; engaged in international regulatory change on tax and invested heavily – to the tune of £49m – in acquisitions which bolster our consulting business. Overall, we have invested £196m in our business to set it on the path to sustainable long-term profitable growth. Though growth is not yet where we want it to be, we have held our nerve on our investments and I am pleased that we are now seeing returns come through.” Arthur Ryman Chairman
www.mollayconsulting.com