“Our teams are driven by routine and the main tools they rely on are time and effort. Their priorities and focus is rarely triggered by risk or material issues until audit or a ‘lucky’ report reveals an issue. We need help to know what we don’t know and we need help to change the behaviour of our finance teams”
Responsibility for identifying significant financial risks to a business, and ensuring the board is fully informed of them is one of the key roles of the CFO. However, according to CFO.com and other leading analysts, CFOs are routinely certifying documents that are not fully accurate, and are doing so without any barometer of risk.
With multiple business units, geographies, ERP systems, and other complexities expanding in finance, every touchpoint throughout the close process is an opportunity for fraud or error. With nearly 80% of the key activities and collaboration at the month end happening outside the ERP, companies are also experiencing challenges from audit committees and auditors as they assess how this ERP ‘gap’ impacts their control environment.
So how can the office of finance ensure the integrity of the balance sheet, contribute to the health and growth of the business, and gain early insight into risks while ensuring they are one step ahead of the non-executive directors and auditors?
Throughout the evening we will discuss how, through innovative technology, companies can deliver a dynamic, “risk-intelligent” view that enables them to drive financial control and reduce risk at the same time as delivering insight and transformation.
Event location: Manchester, UK
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