WHAT DOES A GROUP FINANCIAL ACCOUNTANT DO?

Published: Jul 30, 2025 - The Group Financial Accountant leads the consolidation of group accounts, ensuring accurate eliminations, foreign exchange translations, and timely submission of financial and statistical reports to investors and senior management. This role involves preparing consolidated and UK subsidiary financial statements, maintaining holding company ledgers, overseeing cash flow and FX management, and ensuring compliance with international accounting standards. The accountant also supports audit readiness, mentors junior finance staff, manages loan administration and policy documentation, and contributes to system implementations and non-routine financial projects.

A Review of Professional Skills and Functions for Group Financial Accountant

1. Group Financial Accountant Key Accountabilities

  • Team Leadership: Responsible for managing the Group Finance team of four direct reports and ensuring all queries are dealt with appropriately.
  • General Ledger Management: Responsible for the accurate maintenance of the general ledger accounts for all group entities.
  • Group Reporting: Monthly group reporting across the entities following applicable GAAP, IFRS, and Corporate Governance.
  • Management Accounting: Prepare quarterly group management accounts in line with GAAP and IFRS.
  • Financial Analysis: Provide reporting and analysis of group balance sheet ratios and key KPIs.
  • Process Improvement: Lead continuous improvements and change management projects within the department.
  • Statutory Reporting: Manage the annual statutory accounts for group entities.
  • Audit Coordination: Manage the interface with internal and external auditors and ensure satisfactory outcomes.
  • Intercompany Reconciliation: Reconcile intercompany accounts and liaise with the international group.

2. Group Financial Accountant General Responsibilities

  • Month-End Activities: Undertake month-end activities for the corporate division.
  • Balance Sheet Review: Review the balance sheet reconciliations for the corporate division.
  • Group Eliminations: Perform group eliminations and AIFRS accounting.
  • Corporate Reporting: Prepare monthly management reporting for the corporate division.
  • Board Reporting: Prepare monthly management reporting for the Board.
  • Forecasting and Budgeting: Undertake forecasting and budgeting for the corporate division.
  • Stakeholder Liaison: Liaise with corporate cost centre owners to achieve the agreed output.
  • Statutory Reporting: Prepare Group statutory financial reports (year-end and half-year).
  • Audit Coordination: Coordinate all internal and external stakeholders in the audit process.
  • Technical Accounting: Prepare technical accounting papers for the CFO, outlining the accounting treatment for complex transactions.
  • Process Improvement: Perform ongoing review of the Group's accounting processes, identifying and embedding improvements.

3. Group Financial Accountant Role Purpose

  • Financial Consolidation: Prepare group consolidated monthly and annual financial accounts.
  • Audit Management: Manage group and holding company audits.
  • Asset-Level Accounting: Support asset-level accounting and AFS preparation.
  • Financial Operations: Handle payments, journal entries, and core financial operations.
  • Budgeting: Drive the budgeting process in collaboration with key stakeholders.
  • Reporting Coordination: Manage the group's reporting process, including liaison with asset teams across the world.
  • Budget Participation: Act as a key part of the budgeting process.
  • Project Support: Support projects, systems, and ad-hoc.
  • Cross-Functional Collaboration: Work closely with financial analytics and operational personnel.
  • Shareholder Liaison: Liaise closely with shareholders and their finance and consolidation teams.

4. Group Financial Accountant Essential Functions

  • Group Accounting: Responsible for the accounting and reporting of the Group.
  • Group Consolidation: Assist in the Group Consolidations.
  • Performance Analysis: Quarterly analytical reviews of actual performance vs budget/forecast.
  • Management Reporting: Work alongside the commercial team to assist in management reporting.
  • Financial Statement Preparation: Work with the management team, assist in the production of Financial Statements.
  • Transaction Support: Work alongside the Group Reporting Manager on corporate and property transactions and restructures.
  • Statutory Account Preparation: Work with the management team, assist in the end-to-end production of the Group's statutory accounts.
  • Audit Coordination: Work with external auditors.
  • Ad-Hoc Support: Complete ad-hoc tasks.

5. Group Financial Accountant Additional Details

  • Management Accounting: Prepare monthly management accounts for designated entities.
  • Balance Sheet Reconciliation: Responsible for ensuring reconciled balance sheets are maintained monthly.
  • Reporting Support: Assist in monthly and quarterly reporting to the central team.
  • Budgeting and Forecasting: Assist in the preparation of the annual budget, business plan, and forecasts.
  • Tax Compliance: Ensure tax compliance across entities responsible for revenue and tax authorities.
  • Audit Management: Manage Annual Financial Statements and the External Audit process, facilitating audits and liaising with external auditors to ensure timely and accurate reporting.
  • Regulatory Compliance: Ensure full compliance with all financial regulatory requirements.
  • Commercial Liaison: Liaise with group commercial functions, providing support if called for.
  • Variance Analysis: Analyze and investigate variances, summarize data, information, and trends.
  • KPI Reporting: Provide KPI reporting for senior management.

6. Group Financial Accountant Roles

  • Process Improvement: Ensure that processes and procedures are implemented and continually assessed to ensure efficient financial reporting is completed within an outlined timetable.
  • Entity Accounting: Prepare Entity accounts for both internal and external requirements, ensuring accuracy and adherence to deadlines.
  • Review Preparation: Present to the Group Financial Controller for detailed review in line with specified deadlines.
  • Financial Statement Maintenance: Complete and maintain entity Financial Statements with detailed backup within reporting deadlines.
  • Balance Sheet Reconciliation: Complete monthly Balance Sheet reconciliations within reporting deadlines.
  • Intercompany Compliance: Ensure the Entities comply with the Group inter-company reconciliation process.
  • Information Presentation: Deliver professionally presented information.
  • Business Unit Support: Provide first-line assistance to the Business Units' heads.
  • Statutory Reporting: Assist in the preparation of Group Statutory Accounts FRS102 and year-end tax pack.
  • Accounting Analysis: Provide and develop accounting analysis.
  • Task Completion: Ensure all daily tasks within the role remit are completed as a matter of routine.
  • Audit Preparation: Prepare required documents for all external auditors and agencies.

7. Group Financial Accountant Tasks

  • Technical Accounting: Provide technical guidance, prepare policy papers, prepare statutory accounts for the group, including subsidiaries, and manage the associated statutory audits.
  • Tax Compliance: Work with advisors and colleagues to ensure that all direct and indirect taxes are filed within deadlines.
  • Transaction Support: Provide support on new deals, international expansion, and tax planning across the group.
  • Group Accounting: Own the transactional and month-end accounting and forecasting for holding companies and group consolidation.
  • International Expansion: Assist with all finance aspects necessary for the expansion of the group abroad, including initial advice, incorporation, bank account, and system and process setup.
  • System Maintenance: Maintain the group’s chart of accounts (Microsoft Dynamics GP) and reporting tool (Adaptive Insights), and assist with systems troubleshooting and improvement.
  • Process Improvement: Help drive improvement in finance systems, processes, reports, etc.
  • GAAP Compliance: Ensure the business is accounted for following applicable GAAP standards and internal and external associated reporting requirements.

8. Group Financial Accountant Details and Accountabilities

  • General Ledger Management: Responsible for the maintenance of the general ledger accounts for the Group’s legal entities in line with applicable GAAP and IFRS.
  • GAAP Reporting: Prepare quarterly management and annual audited GAAP consolidated accounts for the Group.
  • Group Reporting: Manage the process to produce monthly Group reporting accurately, to the highest quality, and within strict deadlines.
  • Policy Compliance: Ensure reporting compliance with Group accounting policies.
  • Audit Coordination: Engage with both internal and external auditors to ensure quarterly reviews, statutory audits, and ad hoc process reviews are completed with satisfactory outcomes and within deadlines.
  • Statutory Account Preparation: Manage the Group Finance team in the preparation of the annual statutory accounts for the Group.
  • Process Improvement: Manage continuous improvement and change projects within the Group Finance function.
  • Stakeholder Support: Provide a high level of service to stakeholders of Group Finance through report monitoring, query resolution, etc.
  • Accounting Review: Review, monitoring, and calculation of accounting measurements in line with local and Group accounting policies.
  • Financial Analysis: Provide reporting and analysis of balance sheet ratios and key KPIs for the Group.
  • Intercompany Reconciliation: Reconcile intercompany accounts, liaising with international Group trading partners.
  • Team Leadership: Manage, review, continuously develop, and appraise responsibilities for 2–5 accountants in the Group Finance team.
  • Collaboration: Work closely with other finance team members on current technical and operational financial issues.

9. Group Financial Accountant Overview

  • International Compliance: Lead the evolution of the group’s overseas reporting and compliance capabilities, supporting rapid international expansion.
  • SAP Management: Take charge of the SAP system, designing new reports to meet the developing needs of the business, maintaining the chart of accounts and other master data, and managing internal controls.
  • Business Insight: Partner with the management team and provide insight through reporting dashboards and analysis.
  • Payroll Development: Work closely with the People team to further develop both domestic and international payroll processes.
  • Audit Support: Assist the company’s auditors during the interim and year-end review to confirm the transactions and balances reported in the financial statements.
  • Financial Processing: Support the Financial Reporting team in the processing of accounts payable, bank payments, and reconciliations.
  • Team Management: Manage and review direct reports’ workload, including provisions, banking, and investment transactions.
  • Project Contribution: Contribute to ad hoc projects, including fundraising, forecasting, and business development.

10. Group Financial Accountant Job Description

  • Client Invoicing: Liaise with the account management teams to issue client invoices ahead of the monthly billing deadline, while providing information to the Group Financial Controller where there is a variance to the forecast.
  • Fee Billing: Identify and issue production and handling fee invoices through continual review of WIP reports.
  • Client Query Resolution: Resolve client-related queries, such as missing POs or back-ups, with a proactive attitude.
  • Intercompany Billing: Issue intercompany invoices and ensure cross-company charges are kept up to date.
  • Balance Sheet Reconciliation: Responsible for preparing the monthly balance sheet reconciliation pack for review and other group month-end reporting tasks.
  • Project Lifecycle Management: Manage the project lifecycle in the project management system (e.g., setting up new clients/jobs and closing/locking inactive or paused projects).
  • Job Bag Maintenance: Maintain the electronic job bags.
  • Timesheet Monitoring: Prepare and issue the weekly missing timesheet report, including following up with regular defaulters and escalating on demand.
  • Profitability Analysis: Assist the Group Financial Controller in reviewing job profitability weekly.
  • WIP Reconciliation: Regularly review and reconcile WIP balances, ensuring they are accurate and reflective of project status, and flagging any that are over budget.
  • System Administration: Oversee general maintenance of the project system (e.g., user access, personnel details, rate cards), and lead bi-weekly training sessions for new joiners.
  • VAT Reporting: Prepare the quarterly VAT return.
  • Process Improvement: Help identify initiatives that contribute to process and system improvements.

11. Group Financial Accountant Functions

  • Statutory Reporting: Produce all statutory accounts reporting and be a key leader in the interaction with the auditors, including year-end taxation computations.
  • Group Structure Optimization: Understand the current Group structure and work with professional advisors to improve the tax and cash efficiencies of the Group.
  • Balance Sheet Ownership: Fully responsible for the group's balance sheet.
  • Financial Planning: Produce monthly MI, functional forecasts, and budgets.
  • External Reporting: Manage the external reporting/working capital/cash.
  • Process Enhancement: Review current accountancy practices and introduce new processes to ensure continued performance improvements.
  • Cash Flow Forecasting: Forecast cash flow.
  • Risk Management: Ensure balance sheet risk is managed effectively by conducting monthly reviews of the balance sheet with the business units.
  • Internal Audit: Perform internal audit reviews in the units, ensuring that any technical issue is brought to attention and resolved.

12. Group Financial Accountant Accountabilities

  • Financial Reporting: Perform a key role in the Group’s internal and external financial reporting activities.
  • Holding Company Accounting: Fully responsible for the day-to-day accounting and reporting of the Group’s holding companies, including the accounting for the Group’s external borrowings and group intercompany reconciliations.
  • Group Consolidation Support: Assist the wider Group Financial Reporting team in the production of the monthly Group consolidation.
  • Year-End Reporting: Assist with the year-end Group consolidation and production of the consolidated annual report under IFRS up to the listed company standard.
  • Statutory Account Preparation: Produce subsidiary statutory accounts (FRS 101), working with the Group Auditors (KPMG).
  • Technical Accounting Analysis: Assist the Group finance team with ad hoc technical analysis concerning new accounting standards, acquisition accounting, etc.
  • Project Support: Support ad hoc financial reporting projects.
  • Stakeholder Collaboration: Develop and maintain strong and effective working relationships with both the Group finance team and divisional finance teams.
  • Practice Improvement: Take a proactive approach to reviewing current practice and determine opportunities for development.

13. Group Financial Accountant Job Summary

  • LLP Accounting: Prepare the Limited Liability Partnership (LLP) accounts following International Financial Reporting Standards (IFRS).
  • Data Integrity: Responsible for the integrity of worldwide data included in the firm’s consolidated accounts.
  • Cost Recharge Management: Manage/process the firm-wide cost recharges.
  • Cross-Team Collaboration: Interact with the group finance team and regional accounting teams throughout the network.
  • Year-End Adjustments: Prepare year-end adjustments for international offices.
  • Audit Liaison: Liaise extensively with the firm’s external auditors.
  • Subsidiary Reporting: Prepare statutory accounts for UK subsidiaries following FRS 101/102.
  • Tax Support: Collaborate with the Group Tax team to support tax computations and other filing requirements.

14. Group Financial Accountant Responsibilities

  • Executive Reporting: Prepare the Group's monthly reporting pack for Executive Management, Private Equity owners, and lending banks.
  • Consolidation Management: Maintain and control the Group’s consolidation system.
  • Synergy Tracking: Track synergy benefits and performance versus the PE business case.
  • Exit Preparation: Prepare for and work during exit, including possible IPO.
  • P&L Analysis: Take responsibility for P&L analysis of business units.
  • FP&A Support: Support the FP&A team in budgeting, forecasting, and variance analysis.
  • Acquisition Performance Monitoring: Closely monitor the performance of acquisitions versus the business case.
  • Acquisition Accounting: Responsible for accurate acquisition accounting (approximately 10 acquisitions per year).

15. Group Financial Accountant Details

  • Treasury Coordination: Work with the Treasury team to ensure consistency between the financial system and treasury reporting.
  • Policy Documentation: Maintain the Group Finance Manual.
  • Corporate Finance Support: Support Corporate Finance in five-year plans and impairment/going concern reviews.
  • Audit Assistance: Assist the Group Financial Controller in the year-end audit process.
  • IFRS Reporting: Produce IFRS-compliant Group annual report and subsidiary financial statements.
  • Audit Committee Support: Prepare ad-hoc papers for the Audit Committee.
  • Valuation and Hedging: Cover valuation and accounting for interest rate hedges, derivatives, and pensions.
  • Lease Accounting: Maintain and control the lease accounting module under IFRS 16.

16. Group Financial Accountant Duties

  • Consolidation Management: Own the consolidation process, including eliminations and foreign operation retranslations.
  • Investor Reporting: Submit timely financial and statistical reporting to investors.
  • Holding Company Accounting: Maintain the books of holding companies, including debt finance accounting.
  • Board Reporting: Feed into the Board Pack and other reports to senior management.
  • Financial Statement Preparation: Prepare consolidated financial statements and UK subsidiary financials.
  • International Coordination: Coordinate with overseas accountants on international financial statements.
  • Ledger Reconciliation: Reconcile subsidiary records with group ledgers, documenting local GAAP differences.
  • Regulatory Compliance: Stay updated with international reporting changes and compliance requirements.
  • Technical Accounting Support: Provide technical accounting advice on complex topics like leases and derivatives.
  • Audit Documentation: Draft memos and technical papers for the audit.

17. Group Financial Accountant Roles and Details

  • Policy Maintenance: Maintain and update the Group Accounting policy manual.
  • Cash Management: Support weekly cash reporting and short-term cash flow management.
  • Banking and FX: Ensure all bank accounts are sufficiently funded and manage FX transactions.
  • Audit Liaison: Be involved in audit deliverables and act as the key contact for auditors.
  • Company Secretary Support: Assist with Global Company Secretary requirements.
  • System Implementation: Support the new finance system implementation.
  • Loan Administration: Manage loan administration and compliance certificates.
  • Staff Mentorship: Mentor junior finance staff.
  • Performance Reporting: Produce ad-hoc financial performance reports.
  • Finance Projects: Handle non-business-as-usual finance projects.

18. Group Financial Accountant Responsibilities and Key Tasks

  • Group Reporting Support: Collaborate with the Group Reporting Team on accounting and reporting.
  • Consolidation Assistance: Assist in the Group’s consolidation process.
  • Analytical Review: Provide analytical review and insights to management.
  • External Reporting: Help prepare external announcements and results.
  • Transaction Support: Work with Tax and Treasury on acquisitions and disposals.
  • Covenant Testing: Conduct covenant reviews and testing.
  • Financial Account Preparation: Prepare Group and subsidiary financial accounts.
  • Intercompany Management: Oversee intercompany accounting and debt settlements.
  • Tax Compliance: Help with Corporation Tax Returns and acquisition onboarding.

19. Group Financial Accountant Duties and Roles

  • Global Consolidation: Consolidate submissions from 300+ global entities.
  • Finance Coordination: Coordinate with local finance teams and shared service centres.
  • Intercompany Oversight: Oversee the monthly intercompany process.
  • Intangibles Management: Manage the Intangibles Model.
  • FX Reserve Monitoring: Monitor Exchange Translation Reserve movements.
  • Restructuring Tracking: Track and reconcile restructuring costs and provisions.
  • Audit Support: Assist with the yearly audit.
  • Currency Risk Management: Manage foreign currency risks.
  • Financial Analysis Support: Support ad-hoc financial tasks and analysis.
Relevant Information
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