Financial Reporting Advisory in Kenya
Get your Financial Reporting Right the first time with Frankbridge Advisory Limited
If you're a business owner in Kenya, you probably know how critical accurate and timely financial reporting is. Not only for compliance, but for smart decision-making and investor confidence.Whether you’re a growing SME or a large enterprise, proper financial reporting can make or break your business reputation. At Frankbridge Advisory Limited, we help Kenyan businesses strengthen their financial reporting frameworks and thus ensure accuracy, regulatory compliance, and strategic clarity.
What is Financial Reporting Advisory, Anyway?
Financial Reporting Advisory helps your business make sense of its numbers and communicate them clearly to the people who matter. It involves expert guidance on how to prepare, interpret, and present financial information in a way that meets professional standards and builds confidence with your stakeholders.
This is not just about producing a set of financial statements. It’s about ensuring your financial reports are:
- Technically accurate
- Aligned with accounting standards
- Useful for decision-making.
Frankbridge supports you through:
- International Financial Reporting Standards (IFRS) implementation and advisory
- Financial statement preparation and review
- Audit readiness support
- Technical accounting advice
- Accounting policy development
- Internal control reviews
- Transaction support
In Kenya, financial reporting has become more demanding. Institutions like KRA, the Capital Markets Authority (CMA), and commercial banks are increasing expectations around transparency and compliance. Whether you're an SME preparing for your first audit or a larger business looking to improve how you report to your board or funders, Frankbridge ensures your reports are reliable, defensible, and aligned with best practices.
Financial clarity isn’t just about compliance. It’s a powerful tool for growth, and we’re here to help you get it right.
The Serious Consequences of Getting It Wrong
Poor financial reporting is not just a back-office issue. It can lead to serious consequences including:
- Regulatory fines
- Missed tax obligations
- Failed audits
- Loss of credibility with banks and investors.
In Kenya, failing to comply with IFRS or local financial reporting standards can:
- Restrict your access to funding
- Limit your eligibility for tenders
- Create long-term obstacles to growth.
You may also face:
- Delayed tax refunds
- Stalled loan approvals
- Disputes with shareholders.
Remember: Once trust is broken, it becomes difficult to regain the confidence of key stakeholders. The ripple effects of which can hold back your business for years.
Frankbridge helps you avoid these risks by making sure your financial reports are accurate, compliant, and ready for scrutiny. Whether you're preparing for an audit, seeking investment, or just need better visibility into your numbers, we provide the structure and clarity you need to move forward with confidence.
How Frankbridge Advisory Limited Can Help
At Frankbridge, we go beyond the numbers. We work closely with your team to:
- Translates technical standards into practical, business-friendly solutions.
- Identify weaknesses in your current financial reporting processes
- Address compliance gaps
- Implement stronger internal controls.
- Make sure your financial statements are not just compliant, but also clear, meaningful, and aligned with your goals.
Whether you're struggling with IFRS application, audit preparation, or reporting to investors, we offer tailored support to help you meet the requirements confidently.
By acting as a bridge between your finance team, external auditors, and regulators, we reduce confusion, speed up reviews, and improve the credibility of your reporting.
From initial diagnosis to hands-on support, Frankbridge provides the tools, expertise, and local insight to strengthen your financial reporting function and support long-term growth.
Our Financial Reporting Advisory Services Include:
IFRS Implementation and Advisory
We help your business align with International Financial Reporting Standards (IFRS).
Kenyan businesses often face difficulties in implementing IFRS due to limited local expertise and the complexity of transitioning from local GAAP. Businesses may also struggle with aligning their financial practices with IFRS, which can result in inaccurate reporting and missed opportunities for investors and partners. Without proper training and support, IFRS adoption can become a costly and time-consuming exercise.
At Frankbridge Advisory Limited, we guide your business through the complex process of adopting and applying International Financial Reporting Standards (IFRS). From staff training to reviewing and restructuring your current financial practices, we bridge the knowledge gap between local standards and international requirements. We work closely with institutions like ICPAK, CMA, and KRA to ensure compliance and alignment with international standards.
Whether you're looking to enhance transparency, attract investors, or comply with international accounting norms, we ensure that your financial reporting is not only compliant but also aligned with global best practices.
Our approach guarantees that your financial statements are not only compliant with IFRS but also reflective of your company’s true financial position.
Who Needs IFRS Implementation and Advisory?
You may require IFRS implementation and advisory if you:
- Are preparing for listing on the Nairobi Securities Exchange.
- Seek to attract foreign investors.
- Need to enhance financial transparency and comparability.
- Are transitioning from local GAAP to IFRS.
- Require staff training on IFRS standards.
- Face challenges in interpreting complex IFRS standards.
- Need to align financial practices with international norms.
- Are involved in cross-border transactions requiring IFRS compliance.
- Aim to improve the quality of financial reporting for stakeholders.
- Desire to benchmark financial statements against global peers.
This list is not exhaustive. Let's discuss your specific needs.
Financial Statement Preparation and Review
We ensure accuracy and completeness in annual reports and interim statements.
Accurate financial statements are crucial for decision-making and compliance. In Kenya, businesses often struggle with incomplete records, non-standardized reporting formats, and delays in preparation. Frankbridge ensures timely and accurate preparation of financial statements, aligning them with both local and international standards. We collaborate with regulatory bodies like KRA and financial institutions to ensure your statements meet all requirements.
You may need financial statement preparation and review services if you:
- Are approaching financial year-end.
- Require audited financial statements for stakeholders.
- Need to present financials for loan applications.
- Have faced challenges in past financial statement preparations.
- Seek to improve the accuracy of financial reporting.
- Desire to align financial statements with IFRS.
- Need assistance in standardizing reporting formats.
- Are preparing for mergers or acquisitions.
- Require financial statements for tax compliance.
- Aim to enhance transparency for investors.
This list is not exhaustive. Let's discuss your specific needs.
Audit Readiness Support
We get you fully prepared before the auditors come in.
Preparing for an external audit can be daunting, especially when dealing with disorganized records or inadequate internal controls. In Kenya, non-compliance can lead to penalties and missed opportunities.
At Frankbridge, we conduct pre-audit assessments, organizes financial records, and implements necessary controls to ensure a smooth audit process. We also liaise with external auditors and regulatory bodies to address potential issues proactively.
You may need audit readiness support services if you:
- Are undergoing your first external audit.
- Have faced challenges in past audits.
- Need to ensure compliance with regulatory requirements.
- Require assistance in organizing financial records.
- Seek to strengthen internal controls before an audit.
- Are preparing for a tax audit by KRA.
- Desire to minimize audit findings and recommendations.
- Need support in responding to auditor queries.
- Are planning to change external auditors.
- Aim to build confidence among stakeholders through a clean audit.
This list is not exhaustive. Let's discuss your specific needs.
Technical Accounting Advice
We support your business on complex accounting issues, including leases, revenue recognition, impairments, etc.
Complex accounting issues, such as mergers, acquisitions, or lease accounting, require expert guidance to ensure accurate financial reporting. Kenyan businesses often face challenges in interpreting and applying complex accounting standards. Frankbridge provides specialized advice on intricate accounting matters, ensuring that your financial reporting reflects the economic substance of transactions and complies with relevant standards.
You may need technical accounting advice if you:
- Are involved in complex financial transactions.
- Need to ensure proper accounting treatment.
- Seek to avoid misstatements in financial reports.
- Require guidance on revenue recognition.
- Are dealing with financial instruments and their accounting.
- Need assistance with lease accounting under IFRS 16.
- Are facing challenges in accounting for business combinations.
- Require support in preparing technical accounting memos.
- Need to align accounting treatments with industry best practices.
- Desire to enhance the credibility of financial statements.
This list is not exhaustive. Let's discuss your specific needs.
Accounting Policy Development
We create custom frameworks for consistency in reporting.
A strong set of accounting policies provides the backbone for accurate, consistent, and transparent financial reporting. In Kenya, many businesses operate without formal policies, relying instead on informal practices or outdated templates that don’t reflect their current realities. This can lead to inconsistent reporting, audit findings, and regulatory issues.
At Frankbridge, we work with your finance team to develop or update your accounting policies, ensuring they align with IFRS, local tax laws, and your operational realities.We help you document treatments for key areas such as revenue, leases, provisions, and impairments so that your team is always clear on how to handle financial decisions and reporting.
You may need accounting policy development services if you:
- Are preparing for your first audit or want to improve audit outcomes
- Lack documented or up-to-date accounting policies
- Face inconsistencies in how your finance team handles transactions
- Are expanding operations and want uniform policies across business units
- Need to align policies with IFRS, KRA, or investor requirements
- Want to reduce dependence on external consultants for day-to-day decisions
- Have experienced changes in business structure, such as a merger or acquisition
- Want to reduce risk of misstatements or compliance issues
This list is not exhaustive. Let’s talk if you're unsure whether you need this.
Accounting Policy Development
We strengthen the reliability of your financial information.
Strong internal controls help prevent fraud, improve efficiency, and ensure the accuracy of financial data. Yet, many Kenyan businesses, especially SMEs, operate with weak or undocumented internal processes, leaving them vulnerable to errors, theft, and compliance failures.
Frankbridge conducts tailored internal control reviews that reflect your industry, size, and risk exposure. We assess your existing controls, highlight gaps, and provide practical, achievable recommendations to strengthen governance.
Our approach is not just about ticking boxes. We help you create controls that actually work in your business context, and that your team can implement without friction.
You may need internal control review service if you:
- Have experienced fraud or financial misstatements
- Are growing quickly and want to safeguard your operations
- Need to strengthen controls ahead of an audit or funding round
- Have high staff turnover in finance or procurement
- Lack proper segregation of duties in key processes
- Want to comply with regulatory requirements (e.g., KRA, CMA)
- Are experiencing unexplained variances in financial results
- Have investors or partners asking for governance improvements
This list is not exhaustive. Let’s talk through your situation.
Transaction Support
We offer advisory on mergers, acquisitions, or restructurings that impact financial reporting.
Transactions such as mergers, acquisitions, asset disposals, or capital raises come with high stakes.
In Kenya, many deals fall through or result in post-transaction disputes because of poor due diligence, unclear financials, or inadequate structuring.
At Frankbridge, we provide hands-on support throughout the transaction lifecycle. Whether you're buying, selling, or raising capital, we help you understand the risks, value drivers, and financial implications.
Our team prepares financial models, supports negotiations, and reviews transaction documents to protect your interests and improve outcomes. We work closely with your lawyers, tax advisors, and bankers to ensure alignment across the deal team.
You may need this service if you:
- Are planning to buy or sell a business
- Need to prepare your business for sale or investor due diligence
- Want to raise capital or onboard a strategic partner
- Need to understand the value of your company or an acquisition target
- Are involved in restructuring or spinning off a business unit
- Require help reviewing or negotiating deal terms
- Need post-deal integration support to ensure synergies are realized
This list is not exhaustive. Let’s talk through your transaction needs.
Why Choose Frankbridge Advisory Limited?
- Deep expertise in IFRS and Kenyan reporting standards
- Hands-on practical support not just theory
- Audit-ready reporting that saves you time and headaches
- Trusted by leading Kenyan businesses and institutions
- Flexible engagements from one-off projects to ongoing support
Frequently Asked Questions on Financial Reporting Advisory in Kenya
Do I need financial reporting advisory if I already have an accountant?
Can you help with transitioning to IFRS?
How much does your service cost?
Will you work with our internal finance team?
Do you offer ongoing advisory or just one-off projects?
What is financial reporting advisory, and why does it matter for my business in Kenya?
How do I know if my financial statements meet IFRS and local requirements?
Our last audit was stressful and full of back-and-forth. Can you help us avoid that?
We don’t have an internal finance team. Can you still help us?
What challenges are unique to financial reporting in Kenya?
How long does it take to improve our financial reporting?
Is your service only for large companies?
What makes Frankbridge different from other consultants?
How do I get started?
Can you train our team on reporting standards?
Ask us about our financial reporting advisory services.
