CFO Talks

MAY 12, 2023

Why Maake believes Treasury was right A core point of Maake’s argument is that State Owned Companies (SOCs) like Eskom are expected to not only adhere to IFRS and the Companies Act, but also the PFMA. All these elements are covered under IFRS. If your audit opinion regresses. How do you close it?

IFRS 95

IFRS Treasury Auditing Accounting 95

CFO Talks

MARCH 14, 2023

Regardless of load shedding, CFOs can’t rely on IFRS alone Like many CFOs, Ehsaan made the leap from an auditing to commercial and operational role. “I I learnt a lot of the key skills I need in the auditing profession. However, as a modern CFO, you cannot only rely on your IFRS textbook or your technical abilities.

IFRS 98

IFRS Marketing Construction Auditing 98

CFO Talks

MARCH 13, 2025

Financial Information Systems help businesses automate compliance checks, ensuring they meet regulations such as International Financial Reporting Standards (IFRS 17) and tax laws. These systems automatically flag discrepancies, reducing the chance of financial penalties and improving audit readiness.

Financial Reporting 52

Financial Reporting IFRS Compliance Problem Solving 52

CFO Share

NOVEMBER 15, 2023

Embarking on your first financial audit can be nerve-wracking. This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) Do not expect to walk away from an audit with zero findings.

Auditing 52

Auditing IFRS GAAP Invoicing 52

Bramasol

JULY 22, 2023

From a global perspective, the International Sustainability Standards Board (ISSB), which was established by the IFRS in November 2021 at COP26 in Glasgow, has issued its first two standards. IFRS S1 requires companies to communicate the sustainability risks and opportunities they face over the short, medium, and long term.

IFRS 92

IFRS Accounting SAP Compliance 92

Bramasol

MAY 16, 2025

Revenue Recognition Compliance: Navigating ASC 606 / IFRS 15 rules for multi-element arrangements and variable consideration. Audit Readiness: Growing need for internal controls (e.g., SAP advantage: Native compliance features, embedded controls, and Universal Journal ensure real-time audit trails and regulatory alignment.

SAP 84

SAP IFRS Compliance Auditing 84

CFO Leadership

OCTOBER 10, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Accounting 95

Accounting Finance Auditing IFRS 95

Simply Treasury

FEBRUARY 27, 2020

It is not simple or neutral and difficult to sell to an Audit Committee or CFO. However, with a good counterparty risk the return is hardly better, and even often, still negative with, as a bonus on top, an intermediate volatility for those who report in IFRS (because of quarterly mark-to-market valuations). Beyond standing idly by.

IFRS 130

IFRS CFO Auditing Valuation 130

CFO Talks

MARCH 2, 2023

Before joining Komatsu, he was a Senior Manager at KPMG in South Africa and he was responsible for several large audit clients. That has been a recurring theme in many of my discussions with CFOs, many accountants move from the auditing side to the commercial world, mostly shortly after they’ve completed their articles.

Auditing 98

Auditing CFO IFRS Construction 98

CFO Talks

AUGUST 28, 2024

These include the Companies Act, the Tax Administration Act, the Financial Sector Regulation Act, and the International Financial Reporting Standards (IFRS), among others. These statements must be audited or independently reviewed, depending on the company’s public interest score.

CFO 83

CFO Auditing Compliance IFRS 83

Future CFO

MAY 23, 2021

The post Global IFRS video: Regulatory assets and regulatory liabilities appeared first on FutureCFO. This EY video addresses the IASB’s proposals for the recognition, measurement, presentation and disclosure of regulatory assets, regulatory liabilities, regulatory income and regulatory expense.

IFRS 40

IFRS Auditing Compliance 40

Bramasol

AUGUST 31, 2023

Over the past eight years, many episodes in this blog series have focused on revenue recognition and how SAP solutions such as Revenue Accounting and Reporting (RAR) have provided a robust foundation for compliance with ASC 606 and IFRS 15.

SAP 94

SAP Accounting Reconciliations General Ledger 94

Bramasol

NOVEMBER 8, 2021

While these reports represented an important element for communicating a company's corporate-citizenship vision and were also positive public relations initiatives, for the most part they did not contain a lot of hard, auditable data. In the area of climate change, this is often referred to as "carbon accounting".

Compliance 88

Compliance Accounting SAP IFRS 88

CFO Talks

SEPTEMBER 30, 2024

In South Africa, we seem to apply IAS 38 with extra caution—thanks in part to our regulatory environment , where bodies like the Independent Regulatory Board for Auditors (IRBA) enforce stringent controls on audit firms that forces them to favour conservatism over practical considerations to avoid fines and penalties from the IRBA.

Accounting Standards 98

Accounting Standards Economics IFRS Auditing 98

Bramasol

JULY 26, 2024

Within the Five-Step model, Step 4 of ASC 606 and IFRS 15 requires an allocation of the total consideration in a contract, which your company is entitled to collect for each distinct performance obligation. Standalone Selling Price: What is SSP, why is it needed, and how is it determined?

SAP 90

SAP IFRS GAAP Compliance 90

CFO Talks

SEPTEMBER 5, 2024

Implementing robust security measures, such as encryption, access controls, and regular audits, is essential to protect sensitive financial information.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

CFO Talks

SEPTEMBER 26, 2024

For example, recent amendments to the Companies Act have altered financial reporting and audit requirements, impacting many businesses. Complex Reporting Standards: Adhering to both International Financial Reporting Standards (IFRS) and local regulations can complicate financial reporting.

IFRS 52

IFRS Compliance Auditing Financial Reporting 52

Bramasol

MARCH 24, 2022

Certain climate-related financial statement metrics and related disclosures in a note to its audited financial statements; and ? ISSB was established by the IFRS Foundation in response to the Glasgow COP 26 conference in November 2021. Information about climate-related targets and goals, and transition plan, if any.

Accounting 86

Accounting SAP Analyzing Data IFRS 86

Future CFO

OCTOBER 27, 2020

Governments taking a more flexible approach to tax audits and filing: APAC companies can extend tax/statutory filing deadlines in 50% of places and 43% allow firms to postpone the start of a tax audit.

Accounting 52

Accounting IFRS Auditing GAAP 52

Future CFO

JUNE 12, 2024

Hence, it is crucial to adopt established standards and frameworks such as the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB), the Greenhouse Gas Protocol and ISO 14064.

Compliance 98

Compliance IFRS Risk Management Finance 98

Future CFO

JULY 3, 2024

Integrated financial sustainability reporting is here In June 2023 the International Sustainability Standards Board (ISSB) issued its first two IFRS Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.

Finance 59

Finance IFRS Quantitative Data Communication 59

Future CFO

FEBRUARY 1, 2024

"It is absolutely critical businesses implement an accounting and reporting system for their ESG data that is as auditable, transparent, and reliable as their financial data accounting," Hasenoehrl says, "2024 is the year we have to start treating enterprise carbon data the same way we treat financial data."

Finance 52

Finance SAP Auditing IFRS 52

CFO Leadership

OCTOBER 18, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Accounting 52

Accounting Finance Auditing IFRS 52

Future CFO

AUGUST 18, 2022

Some 61% of assurance engagements were performed by audit firms on a global basis, a slight decline from the previous year (63%). SASB’s parent organisation, The Value Reporting Foundation, will consolidate into the IFRS Foundation on Aug. Study highlights. 1, 2022, to support the work of the ISSB.).

IFRS 52

IFRS Auditing Accounting Standards Accounting Firms 52

The Charity CFO

JANUARY 19, 2023

The goal is to create an accurate and comprehensive record of all transactions that can be used for both internal and external reporting, including audits and tax returns. Depending on the organization’s size, you can have a single person ( such as a CFO ) or an audit committee to monitor compliance.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

CFO Talks

SEPTEMBER 17, 2024

A tech startup might start with basic financial software, but as it scales and perhaps looks for external investment, the CFO will need systems that support more detailed and sophisticated financial reporting, such as investor reporting and compliance with IFRS standards.

Financial Reporting 52

Financial Reporting Auditing Compliance CFO 52

Future CFO

MAY 1, 2024

As they assist in compliance audits and the monitoring of internal controls to ensure that everyone within the company does their job correctly, they are also expected to thrive and flourish amid the challenges along the way for the benefit of the organisation.

Leadership 98

Leadership IFRS Finance Communication 98

Planful

JANUARY 19, 2016

Consolidating the financial results following US GAAP or IFRS guidelines, including these steps: Performing currency conversions. Ensuring adequate audit trails for internal and external auditors. They’ll conclude that there’s a total lack of security, control, and audit trails when using spreadsheets.

IFRS 40

IFRS GAAP Reconciliations Auditing 40

CFO Talks

JULY 16, 2024

Key Highlights Dr. Suresh Kana’s Session : Dr. Kana discussed new developments around IFRS S1 and S2, focusing on sustainability-related disclosures. He emphasized the importance of having a unified body to address the challenges faced by CFOs worldwide and to push for policies that support their professional growth and impact.

Leadership 52

Leadership CFO IFRS Strategic Planning 52

Planful

JULY 27, 2016

Not being compliant with US GAAP or IFRS. Lack of controls and audit trails. Time-consuming and costly audit process. Improve audit trails, reduce audit costs. Challenges in consolidating multiple spreadsheets and correcting errors. Limited reporting and analysis capabilities, and too much manual effort.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Planning Value-Added Analysis Budgeting 40

The Finance Weekly

MARCH 28, 2022

At COP26, the International Financial Reporting Standards Foundation (IFRS Foundation), which supervises accounting standards in more than 140 countries, predominantly in Europe and Asia, announced the formation of the , International Sustainability Standards Board (ISSB). Data validations, controls, and audit trails are extensive.

Finance 52

Finance Auditing Accounting Standards IFRS 52

Future CFO

NOVEMBER 2, 2020

Many jurisdictions are moving towards international accounting standards such as International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP). However, APAC and EMEA take a much more localised approach.

Compliance 40

Compliance IFRS GAAP Accounting Principles 40

Planful

JUNE 22, 2017

GAAP or International Financial Reporting Standards (IFRS). Undetected errors can occur and spreadsheets don’t provide adequate audit trails regarding changes to financial results in the process. Here are the key accounting consolidation steps in the finance consolidation process : Collecting trial balance data (e.g.,

Accounting 40

Accounting General Ledger IFRS GAAP 40

Planful

AUGUST 1, 2017

You’re preparing for an IPO or external audit, which requires having rock-solid financial statements. US GAAP, Canadian GAAP, IFRS, etc.). You’re expanding internationally, which often brings new complexities, such as currency conversions and intercompany eliminations across multiple divisions and subsidiaries.

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40

Planful

SEPTEMBER 5, 2019

Planful gives you a robust library of report templates to build the foundation of GAAP and IFRS-compliant balance sheets, income statements, statements of cash flow, and other financial and statutory reports. It integrates with other on-premise and cloud-based business systems to eliminate cut-and-paste tedium and human error.

Financial Reporting 40

Financial Reporting IFRS GAAP Auditing 40

CFO Talks

JUNE 8, 2022

CFOs will be expected to provide a robust ESG audit trail to boost investor confidence in the near future, including underlying assumptions, models, and a paper trail of the internal controls underpinning the information provided.

CFO 52

CFO IFRS Education Auditing 52

Jedox Finance

JULY 11, 2023

5 Other sustainability reporting initiatives in development include those of the International Sustainability Standards Board (ISSB), developed by the International Financial Reporting Standards (IFRS) Foundation. The final ESRS requirements are to be passed as law at the end of July 2023 and no later than the end of August 2023.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Profit and Loss Compliance 52