Financial review
Annual financial review
Preparation for the annual IATA financial assessment: statements, Remittance Holding Capacity, financial security.
The financial assessment rewards preparation disproportionately. The same underlying business, presented carelessly or presented well, can produce very different security requirements.
Who this is for
- GoStandard agencies preparing their annual submission and wanting it reviewed against the applicable Local Financial Criteria before it goes in.
- Agencies that received a failure notice or a demand for increased financial security and need to respond within the deadline.
- Agencies planning growth, a dividend, or a group restructuring and wanting to know the effect on the assessment before committing.
What is included
- Review of your financial statements against the criteria applied in your market, before submission.
- Identification of presentation and classification issues that depress the result, and a frank distinction between presentation problems and genuine capitalisation problems.
- A forecast of your Remittance Holding Capacity and the financial security IATA is likely to require, so the bond or guarantee can be arranged in time rather than under notice.
- Coordination of the submission through the IATA Customer Portal and management of follow-up questions.
- Where an assessment is failed: analysis of the calculation, preparation of the response, and support arranging or resizing the security.
- Typical timeline
- Start four to six weeks before your submission deadline for a comfortable review. Failure-notice responses run on IATA's clock, not ours (typically days), so those begin immediately.
- What your agency provides
- The annual financial statements, with notes, prepared by your accountant.
- Your current financial security details: instrument, amount, provider, expiry.
- Sales figures by BSP market, and early warning of anything unusual in the year: losses, restructuring, owner loans.
Common questions
Is this your situation?
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