Shimony Financial Services specializes in the outsourced preparation and editing of financial statements and IFRS & US-GAAP reporting for both private and public companies traded in Israel, the US, and other global markets.

Following the 2009 clarification by the Israel Securities Authority on auditor independence – specifically regarding assistance in preparing and editing financial statements for audited companies – external auditors are prohibited from editing financial statements they audit. This shift increased the demand on in-house finance teams, many of which previously relied on auditors for statement preparation, and created a growing need for professional outsourced financial reporting services.

Our firm offers experienced and professional financial statement preparation and GAAP conversion services for public companies, utilizing a dedicated department that handles all related financial and regulatory requirements. This comprehensive service may include transitions between accounting principles or GAAPs (such as Israeli standards, US-GAAP, IFRS) as well as changes in presentation or reporting currency. We provide complete drafting and editing of financial statements in Hebrew and/or English (in any required currency), along with the preparation of working papers and position memos.

For companies preparing for IPOs, SPAC entries, or mergers and acquisitions, we offer end-to-end financial reporting support under IFRS and US-GAAP standards, ensuring accuracy and compliance throughout the prospectus preparation and reporting process.

Our reporting services are delivered in close collaboration with external auditors – often from the Big 4 firms – ensuring that each accounting and professional issue is thoroughly reviewed with the audit team and the professional department, maintaining alignment with all regulatory standards and deadlines.