Solutions

Retailers find themselves contending with unprecedented challenges in the form of new sales channels, new technology advances, and the reality of a consumer with different demands, shopping habits and cautious confidence levels. At BDO we believe the sector also provides a number of exciting opportunities for those retailers who are best able to adapt and identify innovative ways of attracting customers.

BDO approach

BDO has significant experience working with retail organisations of all sizes throughout Australia and globally. BDO offers a broad range of core and value-added retail services across the areas of audit, tax and advisory. Our client base reflects all growth phases, from successful family owned and managed businesses, larger private businesses, franchises, ASX listed companies through to international corporations.

Our commitment to the retail sector, the sharing of our knowledge between staff and regular dialogue with our retail clients ensures BDO is at the forefront of developments in the industry.

How can we help?

BDO plays a leading role in the retail market by providing specialist industry insight and advice. We deliver an integrated, full service offering, providing practical financial advice on everything from tax planning, mergers and acquisitions, auditing and accountancy.

BDO is well connected with a wide range of retail professionals and works closely with banks, private equity houses, brokers, as well as lawyers and property professionals who specialise in the retail sector.

Services

BDO has a unique offering for the retail sector with an unmatched level of professional service. We offer a broad range of specialist retail services including:

• Audit
• Private client services
• Transaction analysis and recovery
• Fraud and forensics
• Corporate finance
• Corporate and international tax
• Risk advisory
• Private wealth
• Global compliance services/financial Outsourcing
• Performance improvement.

Audit

Our audit team offers clients a partner-led service with a proven international audit methodology. We apply our technical and industry knowledge that draws on our significant understanding and experience in the retail sector to assist clients in effectively improving systems and processes for external financial reporting and coping with changing regulatory requirements such as International Financial Reporting Standards.

Our specialists apply BDO’s renowned audit methodology to focus on key financial areas and provide constructive ideas for improving your organisations’ internal controls and business systems.

• External audits
• IT reports and investigations
• Probity and process advisory
• Technical accounting services.

Private Client Services

Our Private Clients team ensure your business success by driving growth, value and profitability. The services offered by our advisers include: growth strategies, taxation, compliance, and wealth creation and management. We specialise in working with entrepreneurs, private clients and owner-managed businesses of all sizes. BDO can assist by providing advice on:

• International business
• Export strategy & planning
• Strategic planning
• Risk advisory
• Operational strategy
• Government grants & concessions
• HR resources and services
• Operating budgets and cash flow forecasts.

Transaction Analysis and Recovery

BDO offers a risk free, contingency-based transaction analysis service covering both direct and indirect costs:

• A transparent financial management technique applied internally to the company’s records
• A low impact, non intrusive service
• We invoice you after you have banked the money.

Our work can be broadly defined as falling into the following areas:

• Duplicate payment identification and recovery
• Statement review
• GST review
• Contract compliance
• Property review.

Our aim is to turn your historic costs into current revenue.

Fraud and Forensics

BDO’s national fraud and forensic services team offers specialist advice and services to minimise the risk of financial loss and reputational damage to businesses and to address issues arising from an increase in the complexity of litigation. Our team of multi disciplinary experts have proven industry experience in delivering forensic accounting, fraud examination, computer forensics and risk management services to the retail sector. At BDO we provide practical and achievable strategies to reduce the risk of fraud & corruption along with conducting discrete and detailed fraud investigations to track perpetrators.

• Fraud & corruption risk assessments
• Fraud & corruption control plans
• Fraud awareness training
• Forensic audits
• Investigations
• Data mining
• Whistleblower service.

Corporate Finance

BDO has one of the largest corporate finance teams in Australia servicing the corporate and investment sectors. Together with our dedicated team, we work with our International BDO network present in over 110 countries, to assist clients in making strategic decisions.

• Valuation services – preparing commercially sound valuations to assist with planning and investment strategy decisions
• Project analysis and advisory
• Transaction services (buy/sell)
• Due diligence
• Capital raising
• Lending reviews
• Mergers and acquisitions- providing you with the right advice at the right time
• Business recovery and insolvency - conducting business reviews and advising lenders, directors and other stakeholders on options available to companies facing financial problems
• Transaction analysis and recovery – extracting maximum value from your historical transactions.

Corporate and International Tax

As part of a global network, our tax practice provides expert taxation consulting and compliance services to clients across the retail sector. Our tax experts are focused on providing a tax strategy that allows retail businesses to develop and grow while minimising tax costs. We do this by understanding your business and commercial needs, enabling us to provide proactive commercial tax advice, and allowing you to make business decisions with confidence.

• Complex taxation advisory
• International tax advice
• Income tax return preparation
• Goods and Services tax
• Research and development concessions
• Employment issues (FBT, Remuneration)
• Fuel tax credits
• State taxes
• Customs duty
• Executive remuneration and expatriate taxation services
• Transfer pricing
• Corporate transactions
• Corporate tax risk management
• Indirect taxation.

Risk Advisory

BDO’s Risk Advisory team works closely with clients to help manage risk and achieve strategic business objectives supported by robust internal control systems.

• Internal audit – addressing a broader range of risks beyond financial risks
• Information technology controls and systems reviews – examining all aspects and challenges from a technology risk perspective
• Corporate governance – designing tailored corporate governance practices
• Risk management – assisting with the development or enhancement of an organisation’s approach to risk management
• Fraud, risk and investigations – conducting risk assessments, developing anti-fraud strategies and carrying out investigations.

Private Wealth

Our team includes experts who can provide advice on how best to manage and grow your personal wealth, ensuring tailored plans are implemented which will guarantee the long term financial future of you and your family.

• Wealth management
• Estate planning
• Superannuation
• Succession planning.

Global Compliance Services/Financial Outsourcing

We offer internationally headquartered retailers, with operations in Australia or the Asia Pacific Region, a centralised finance back office service. You may be looking to expand your business into Australia or have multiple operations in the Asia Pacific Region and want to streamline finance and reporting systems from a shared central service centre. BDO provides a dedicated, fast and pro-active service tailor-made to suit your requirements.

Our market-leading local knowledge enables us to provide support in the following areas:

• Advice on establishing operations in Australia most effectively taking into account your international structure
• Management accounts
• Financial accounts
• Payroll
• Company secretarial including the provision for cheque signing and nominee director facilities
• Local and international tax advice
• Corporate finance.

With our extensive international network, we help organisations manage local compliance needs, anywhere in the world. We will take care of the financial infrastructure, leaving you to focus on managing the business.

Performance Improvement

BDO Performance Improvement assists leading companies to deliver on their strategy. We ensure their initiatives are adequately managed and resourced to achieve the required outcomes. We work with clients in smaller teams providing more senior and highly skilled resources. Our key focus is on assisting our clients in ‘executing’ and ‘implementing’ their strategic initiatives by working with our clients to continuously improve their business.

• Identifying specific Financial Statement areas or system for more detailed review - for example – payroll procedures, EFT payments, banking function, fixed assets and purchasing procedures
• Refining operating models and process re-engineering.