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International network
Hibiscus Audit Corporation joined Russell Bedford International(“RBI”) in 2020 and changed its English name to Russell Bedford Hibiscus(“RBH”). RBI is located in London, United Kingdom.
RBI is the 18th largest international network of accounting and consulting firm which has members over 100 countries. RBI provides a worldwide presence, easily accessible at local level. It means members of RBI can take even small or mid-sized business
RBI provides most update information about international accounting, auditing and taxation including International Financial Reporting Standards(“IFRS”) and International Auditing Standards(“IAS”) and holds seminars for related topics. All members can access RBI’s most updated knowledge. Also, all members are required to take Annual Quality Control Review so that members’ quality of audit are maintained same quality as complying IAS. In addition, RBI holds various type of conference such as Annual Global Conference, APAC reginal conference, young partners and managers meeting in order to build a trustful relationship, exchange members’ opinion, and share information.
RBH is engaged in supporting overseas expansion, IPO in foreign market, and audit of the financial statements of subsidiaries of foreign companies. RBH is able to handle various type of arrangement through alliance with RBI.
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Referred work
RBH is engaged in audits of the financial statements of subsidiaries of foreign companies upon request of primary auditors.
RBH plans, performs procedures, and reports in compliance with primary auditor’s instructions. RBH communicates with primary auditors and clients closely in a timely manner.
RBH audits in accordance with not only Japanese Generally Accepted Accounting Principles(“GAAP”) but IFRS, and GAAP in some other countries.
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IPO in foreign markets
RBH supports Japanese companies for IPO in foreign markets. RBH cooperates with local auditor and supports communication and consideration of requirement for IPO.
For instance, in Singapore, number of European companies’ start-up increased due to geographic advantage as foothold of expanding to Asia. As a result, Singapore markets have well-improved investment and business environment even for non-European companies. Hong Kong market is also a highly developed market and beneficial for international companies and investors as well. Number of Japanese Companies which aim IPO in those markets are increasing.
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IFRS implementation supportAs business expands globally, necessity of common framework for financial reporting gets non-negligible. As a result, IFRS are adopted and applied to all public companies in EU. At present, IFRS are adopted in more than 100 countries. In Japan, more companies implement IFRS such as companies financing abroad or trying to compare with other global companies in same flamework.
