Guide · Local File · 5 min
Preparing TP documentation for professional review
How accountants and advisory firms can organise a defined TP assignment before senior review, while keeping their methodology, template and client relationship in place.
01
Start with a defined assignment
A review-ready workstream begins with a clear transaction, the relevant entities, period, jurisdictions and intended output. State the question the team needs to answer and record what falls outside scope before drafting starts.
02
What can be prepared before review
- Map the relevant intercompany transactions and agreements.
- Organise the available financial information and identify gaps.
- Set out functions, assets, risks and relevant value drivers.
- Connect material statements to source documents, guidance or stated assumptions.
- Prepare a draft position with alternatives, limitations and open questions.
03
Keep the substantive lead with the firm
A supporting workstream should make the review easier, not replace it. Your firm retains the methodology, client context and final judgment. The working file should make those decisions visible and easy to challenge.
04
A useful handover
The handover can be a structured input pack, memo or Local File draft in the firm's own format. It should distinguish confirmed facts, assumptions, sources, analytical judgments and unresolved points so the reviewer can focus on what requires professional attention.
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