This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
financialreporting leaders indicated in a KPMG study that ethical concerns, such as bias or misinformation, are a barrier to AI adoption — down from 48% in 2023. financialreporting leaders reported that risks from using algorithms without human oversight are a barrier — down from over half (51%) in 2023.
Month-end and quarter-end can feel like a high-wire act for mid-market SaaS finance teams. CFOs and controllers juggle countless Excel files, disparate data from NetSuite and other systems, and last-minute narrative edits to board decks – all under tight deadlines. The result?
The Role of IFRS in Simplifying Cross-Border FinancialReporting In todays interconnected world, businesses are no longer confined by borders. While this global reach brings opportunities, it also comes with challengesespecially when it comes to financialreporting. What is IFRS Compliance? Why is it important?
The next logical step might be to take your company to international markets by listing on a foreign stock exchange. But it also comes with a unique set of challenges, particularly for CFOs tasked with ensuring compliance with international reporting standards. Invest in strong financial systems that allow for dual reporting.
Yet many middle-market companies continue to explore opportunities to go public. After a challenging IPO market from 2022 to 2023, conditions have certainly improved. However, while market sentiment is improving, IPO readiness requires more rigorous preparation than ever before.
Evolving role Historically, CFOs were the stewards of financialreporting and compliance. However, the increasing complexity of global markets and the pace of technological change have redefined this role. Arellano-Geronimo emphasises the importance of maintaining a balance between innovation and compliance.
The CFO Confessional: Bless Me, Market, For I Have Sinned When a corporate scandal breaks, it sends shockwaves far beyond the headlines. Stakeholders lose faith, employees question their future, and market confidence deteriorates. In these moments, the role of the Chief Financial Officer becomes especially critical.
As 2025 approaches, the equity capital markets are gearing up for a notable acceleration in IPO activity. Asias rising prominence, driven by the growth of emerging markets, is also expanding opportunities for companies to tap into new investor pools. Enhancing financialreporting processes to ensure transparency and accuracy.
As a CFO your influence extends beyond financialreports and budgets. For CFOs, these challenges can come from external pressures like market demands or internal dynamics such as stakeholder expectations. How to Handle It: Immediately report the matter to the compliance or legal team.
Along with renewing their registration annually (for both SEC- and state-registered firms), firms face a variety of requirements related to their internal finances, fees, marketing activities, and advisor agreements depending on whether they are SEC- or state-registered. Compliance policies and procedures manual. Author: Chris Stanley.
Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. For any public company, the goal of successfully complying with periodic financial reviews by external auditors cannot be overstated.
Deep Dive Opinion Library Events Press Releases Topics Subscribe Search Subscribe Search Strategy & Operations FinancialReportingCompliance Technology Treasury Risk Management Leadership An article from Dive Brief Netflix taps Airbnb CFO Mertz for board The Airbnb executive previously served in various finance roles at Netflix.
Hence, it is crucial to adopt established standards and frameworks such as the International FinancialReporting Standards (IFRS) Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB), the Greenhouse Gas Protocol and ISO 14064.
For chief financial officers overseeing operations across Asia-Pacific, the Middle East, Europe, and the Americas, building compliant, scalable finance functions in unfamiliar jurisdictions is a high-stakes challenge. Serve as a liaison between sales and compliance teams," Kozlov says.
Initiatives such as CIBA’s Climate and Sustainability Reporting License are equipping CFOs to navigate this complexity. The AFE lays out clear lines of responsibility, documenting who approved what and ensuring departments are held accountable for financial decisions. The CFO’s role in this energy transition is multifaceted.
In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. But financial regulatory compliance can be a headache for any market. Lithuania wants to become a global FinTech powerhouse.
Streamlining global financial management for growth, compliance, and stability comes hand in hand with an organisation's expansion, a benefit offered by cross-border virtual CFO services.
"The adoption of AI-driven analytics allows teams to move from traditional reporting to real-time insights, enabling more proactive decision-making," he says. Cloud-based financial systems have improved collaboration, making data more accessible while ensuring compliance with evolving regulations."
Listed companies (on the stock exchange) They must meet strict financial disclosure rules, often set by stock market regulators like the JSE (Johannesburg Stock Exchange). Knowing the specific rules for your industry helps you prepare in advance and avoid compliance issues.
As with many other market segments, the Medical Device industry is being disrupted by two major macro trends: 1) the move to new offerings with recuring revenue models, and 2) the transformation of business operations with cloud-based ERP systems. This ensures proper financialreporting and avoids discrepancies in recognized revenue.
Additionally, I worked for a South African company that exported its products internationally, giving me exposure to the complexities of global trade and compliance. What stood out to me most in these experiences is the importance of adaptability and cultural awareness.
Customized FinancialReporting for Better Decision Making Every business has unique financial needs and goals. Outsourced accounting services provide customized financialreporting that offers a clear and comprehensive picture of a company’s financial health.
A financialreporting dashboard is a visual representation of financial data and key performance indicators (KPIs) presented in a consolidated and easily digestible format. Decision Making : Financialreporting dashboards enable data-driven decision making by providing stakeholders with timely and accurate information.
Data Governance : Establishing frameworks for data security, compliance, and lineage, vital for regulatory adherence and exit due diligence. Data Contextualization : Enriching data with business contextlike customer behavior or market trendsto make AI insights actionable for growth strategies.
The EU AI Act which lays the foundations for the regulation of artificial intelligence , seeking to improve the functioning of the internal market and promote the uptake of human-centric and trustworthy AI. While compliance will be a challenge, Joseph says some countries are better positioned than others.
The convergence of AI and ERP offers the potential to overcome traditional barriers to efficiency and accuracy in financial management, enabling Asian companies to compete more effectively on a global scale. Wahi suggests that organisations prioritise the alignment with local compliance requirements.
Consider a financial services company that managed to scale its operations by prioritizing cash flow optimization. By employing advanced forecasting tools and real-time financialreporting, they maintained a healthy cash reserve, allowing them to invest in new markets and technologies confidently.
Aligning financialreporting systems, tracking and realizing efficiencies, and continuously monitoring financial performance are essential to support patient care and ensure the merged entity's success. Steps for Standardization: Conduct an audit of existing financialreporting and ERP systems in both organizations.
A controller primarily oversees accounting processes, ensuring accurate financial records and compliance with regulations. In contrast, a CFO is a more strategic financial professional, focusing on long-term planning, investor relations, and overarching financial strategy.
Functional Integration Leads Each business function must own its integration activities while aligning with corporate strategy: Finance and Accounting: Unifies financialreporting, tax structures, and compliance. Sales and Marketing: Aligns branding, customer communication, and positioning.
Numbers Never Lie but They Rarely Tell the Whole Story For too long, financial analysis has been seen as a back-office functionprocessing numbers, producing reports, and ensuring compliance. Financialreports are produced the same way they have always been. Assumptions are rarely questioned. The problem?
In South Africas business environment, where public trust is fragile, regulatory compliance is non-negotiable, and financial transparency is a competitive advantage, the CFO plays a crucial role in shaping whether a company is seen as credible, ethical, and stable. They are not spinning a message or promoting an idea.
Outsourced Tax Accounting Services Ensure Compliance and Savings Navigating the labyrinth of tax regulations can be daunting for any business. Outsourced tax accounting services provide expert advice, ensuring compliance and optimizing tax strategies. Find out how small business accounting services can help you.
Revenue recognition challenges are rising as companies adopt more complex business models, while the rise of cloud ERP solutions is enabling companies to streamline their operations, ensure compliance, and adapt to new revenue streams. ASC 606/IFRS 15 Compliance : Under the ASC 606 (U.S.)
Businesses that integrate analytics into their planning can align operations with financial goals. For example, if a company aims to expand online sales, FP&A teams analyze marketing costs and expected revenue to determine budget allocations. Adjust forecasts regularly to reflect market conditions.
Financial managers are similar to personal financial advisors, except they monitor businesses’ financial well-being instead of individuals. Most financial managers have previous experience working in market analysis and forecasting positions similar to this one. Chief Compliance Officer. Financial Examiner.
Driven by sweeping changes such as digital transformation, globalization of markets, the subscription-based Digital Solutions Economy™ (DSE), carbon-accounting mandates, a rising emphasis on artificial intelligence, and other disruptive trends, the role of Chief Financial Officer (CFO) is undergoing radical transformation too.
The rigour of the IPO process requires the company to re-evaluate and refine its strategy and processes and helps it attain the high standard of financialreporting and corporate governance required of a listed company,” says Joshua Ong , managing partner & practice leader for capital markets & IPO at Baker Tilly Singapore.
Technological advancements, evolving market demands, and a heightened focus on sustainability are converging to reshape the finance landscape. Repetitive tasks, such as financialreporting, are increasingly being automated, freeing up finance professionals to focus on strategic initiatives.
More interestingly, 62% of executives claim their companies apply the same diligence to ESG reporting as they do to financialreporting. Nikhil Parambath He notes however that while accurate ESG reporting is essential for informed decisions that drive shareholder value, Asia's ESG compliance landscape is still nascent.
Key stakeholders from an ESG perspective would be the chief financial officer and the chief compliance officer,” she adds. Skill adjacencies : GRC and financialreporting teams have much of the people, processes, and technology already in place to readily incorporate ESG metrics into the risk management and compliance domains.
Problem 1: Using Old and Cumbersome Excel Models Many of us have developed a financialreporting process that uses workarounds for limitations in our ERP software and to ensure we can meet our deadlines without accidentally breaking something. These processes vary. This makes what is likely an already time-consuming task even slower.
So, how do you deliver tough financial truths without unsettling your stakeholders? Transparency Without the Trauma Openness about financial realities is not just about compliance, it is a core leadership responsibility. Lead with the key financial message first, then provide supporting details.
We organize all of the trending information in your field so you don't have to. Join 39,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content