ResourcesFSN The Future of Financial Reporting 2017

FSN The Future of Financial Reporting 2017

Financial reporting is a window into the corporate center, providing internal and external stakeholders with their most regular, thorough and visible perspective of a company’s financial performance. A CFO’s reputation rests on delivering accurate and timely financial reports, because despite the raft of new strategic responsibilities they are taking on, financial stewardship remains the cornerstone of their role.

The ability to close the books, consolidate group results and publish statutory accounts and insightful management accounts in ever decreasing timescales is widely regarded as a good proxy for good corporate governance, a ‘tight ship’ and a competent finance team. In the main, statutory reports are delivered on time, board reporting packs inform directors sufficiently and business continues as usual. But FSN’s survey of almost 1000 CFOs and senior finance professionals has exposed the less than solid foundations on which the financial reporting process is built.

Across the process there are inefficiencies, inexpert fixes, delays and lax controls that cause CFOs sleepless nights and force them and their teams to spend untold hours manually checking and ensuring the veracity of the reports.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

Professional Services Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine

Accounting Firms Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021

Making Tax Digital Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource