Failures in the close process result in, at best, time-consuming rework and at worst, materiality issues that can lead to misstatements, restatements, decreased valuations and maybe even personal liability.
As organizational environments increasingly become more complex, compliance-focused and technology-driven, CFOs and controllers have even greater pressure to ensure the integrity of the financial close. Yet, according to a Trintech survey, only 28% of CFOs are confident in their reporting numbers.
In the world of Finance & Accounting (F&A), you need to be willing to innovate in order to move toward a more efficient, and accurate, final close process. The quicker and more accurately you close, the quicker you can move on to higher value-added tasks such as analysis and strategic planning, with accurate numbers in hand.
This eBook highlights five best practices for achieving an efficient close without compromising accuracy.