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
Evolving role Historically, CFOs were the stewards of financial reporting and compliance. Giselle Arellano-Geronimo For instance, integrating cloud-based systems allows for greater flexibility and accessibility of financialdata, enabling finance teams to collaborate more effectively.
No longer confined to traditional financial management, CFOs now play a pivotal role in safeguarding their organizations against increasingly sophisticated cyber threats. As stewards of financialdata, CFOs must prioritize cybersecurity measures to ensure the security of sensitive information and maintain client trust.
Financial Reports That Dont Age Like Milk: The Power of Real-Time Data Imagine running a business where financial decisions feel like guessworkwaiting weeks for reports, struggling with outdated data, and constantly fearing human error. This is the power of Financial Information Systems (FIS).
Source: Data collected during the FutureCFO Conference series in 2024, Cxociety Research Coming into 2025, as finance leaders face mounting pressure to do more with less while driving growth and maintaining compliance, they are turning to digital solutions and holistic approaches to reshape and modernise financial processes.
Cloud-based financial systems have improved collaboration, making data more accessible while ensuring compliance with evolving regulations." Understanding automation tools is also essential, as AI is reshaping processes such as financial planning, risk management, and audit compliance."
What is financial consolidation? Financial consolidation is the practice of combining financialdata from multiple business entities into a single, unified set of financial statements.
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.
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. This saves time and reduces the risk of mistakes.
What is IFRS Compliance? Being IFRS-compliant means that a company follows a set of internationally recognised accounting rules when preparing its financial statements. These rules, set by the International Accounting Standards Board (IASB), are designed to make financial reports clear, comparable, and reliable.
From federal grant compliance to donor transparency expectations, nonprofits must meet a growing list of financial integrity standards. If your organization doesnt have airtight financial oversight, youre at risk of losing funding. Misallocating funds can lead to compliance violations and loss of trust from funders.
Automation Solutions: Streamlining Back-Office Operations The operational complexity of private equity, from regulatory compliance to financialdata management, can burden resources and divert attention from strategic priorities.
A new survey shows that an increasing number of mergers and acquisitions (M&As) are not going through because of concerns over General Data Protection Regulation (GDPR) compliance. As we track transactions, it will be very telling how these challenges will impact organizations’ due diligence processes.
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. In some organisations, questioning financialdata is seen as criticism rather than an opportunity for improvement. The problem?
Maintaining accurate records across a diversified portfolio can be a considerable challenge in terms of compliance, transparency, and risk. For single and multiple family offices, governance is key to financial success and is an important element of your organizational structure. Choosing the right accounting software is important.
Other regulations adding weight to financial service providers’ compliance burden include Europe’s PSD2 and the U.K.’s ’s Open Banking , which promote end-customer ownership of financialdata and enable those customers to allow for banks to share their financialdata with third-party service providers.
Budget approval ensures financial stability, prevents unnecessary expenses, and keeps projects on schedule. Present financialdata with clear charts for faster decision-making. Provide business context to support data-driven discussions.
While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.
Navigating South Africa’s Reporting Maze: What Every CFO Needs to Know Navigating the complex landscape of regulatory reporting in South Africa can be daunting, especially for CFOs who bear the responsibility of ensuring compliance while also driving strategic financial decisions.
Asia’s ESG journey BlackLine regional vice-president for Asia, Nikhil Parambath , says Asia's business leaders are focusing on strategic initiatives for long-term growth, with an increasing emphasis on ESG compliance to build trust among stakeholders.
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.
The Fed is considering an audit of Big Tech firms’ compliance policies and governance structures. The probe would concentrate on tech firms that provide data storage to financial institutions.
Each step has enriched my experience, solidified my commitment to public sector finance, and prepared me for ongoing contributions to governance and skills development. When you’re young, focus on deeply understanding the core accounting principles, financial reporting, and regulatory compliance.
. “By applying this technology, a CFO no longer needs to look through 300 pages of tabular reports, but gets directly to the top 10 breaking trends in their data.” ” Further, solutions that deploy automated data management and analytics features can be critical for government reporting and regulatory compliance.
It’s a result, explained Gillette, of the legacy ERP no longer being suited to address the full range of businesses’ diverse financial and process management needs. He pointed to financial reporting as one example of this shift. Modernizing the ERP. Disruption Ahead.
The ability to analyse data, identify insights, and communicate those insights effectively is highly valued. Finance professionals need to be able to tell a story with the numbers, explaining the implications of financialdata for the business.
Adding ERP in finance departments is very popular for good reason, as the system consolidates financialdata automatically and generates reports quickly and simply, regardless of file type and without any need to crosscheck and rekey data. Manufacturing ERP is designed to optimize efficiency in quality and compliance.
The financial landscape is evolving at breakneck speed, driven by big data, globalisation, and digitisation. The pressure on finance leaders to deliver strategic insights and ensure compliance is mounting in this dynamic environment. These challenges, like tangled vines, impede progress.
Then theres tax and compliance. Make sure you understand your reports and always have access to your financial records. Your financialdata is sensitive. Always work with a trusted professional who follows strict data protection rulesanother reason why choosing a CIBA Business Accountant in Practice is a smart move.
Real-time data access Millennials and gen Z clients have high expectations for immediacy in financial information. Real-time access to financialdata, performance metrics, and market insights not only improves transparency but also empowers clients to make informed decisions.
Employment numbers for Financial Managers are expected to rise by 17% over the next decade, faster than the average for all occupations. Chief Compliance Officer. A chief compliance officer ensures financial institutions adhere to all applicable laws and regulations. Financial Examiner. Insurance Advisor.
They are expected to provide financial leadership and insight into the organization's strategic direction. This involves not just managing financialdata but also interpreting it to guide decision-making. Globalization CFOs have long needed to assure compliance with two different standards-setting bodies.
E-invoicing mandate and ESG compliance add further complexity dimensions to the priorities and challenges faced by the Office of the CFO. Office of the CFO must navigate these varying regulations and ensure that AI solutions comply with local laws to avoid non-compliance and potential penalties.
Practical Applications of Predictive Analytics in Risk Management To get started with predictive analytics, you don’t need to be a data scientist. Financial Risk Forecasting Predictive models can analyse your company’s financialdata—such as revenue patterns, cash flow, and expenses—to identify potential financial risks.
A bookkeeper records and organizes financialdata; an accountant interprets and presents that data. . The nonprofit bookkeeper is the front line in the battle for the accurate financialdata you need to run your business, so let’s review the core responsibilities of a nonprofit bookkeeper. .
The balance sheet and key financial ratios should tell the strengths and problems of the Company. It’s not easy to go through all the financialdata to identify what’s relevant and what’s not. How do you dissect complex algorithms as compared to traditional financial models?
Robert E Parker "As we look forward to the developments in AI, finance leaders will be in a better position to uncover hidden opportunities and risks and step beyond using structured financialdata by utilising data from across organisational silos enhanced with data from outside the organisation."
It's more than just a compliance process, think about how to embed sustainability within your business strategy." Fouesnant concedes that investors are asking for it, and therefore a company can no longer get away with just disclosing its financialdata. Lastly, is getting companies to get past the compliance stage.
In this episode, we dive into five issues that are at the heart of optimizing Quote-to-Cash to Compliance with SAP Revenue Recognition and subscription management applications, including complex bundling scenarios. Closing and Reporting: How can we shorten our periodic closing cycles while assuring reporting and disclosure compliance?
One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. Controlling (CO). Inventory Accounting (MM and ML).
For example, companies operating in carbon-intensive sectors may face higher carbon taxes and other compliance costs, or find themselves becoming less viable to operate in the future economy,” said Lee Bing Yi , Sustainability & Climate Change Director at PwC Singapore.
Whether it’s streamlining financial reporting, enhancing data accuracy, or ensuring compliance with South African regulatory standards, clearly defining these objectives will guide the entire design process. Choosing the Right Software and Technology Selecting the appropriate financial software is a critical decision.
Indeed, GenAI, with its ability to collect and interpret financialdata on a vast scale, could force some of the Arabian Gulf region’s biggest banks to rethink their already costly digital banking strategies. AI algorithms analyze vast amounts of data to assess credit risk, detect anomalies, and prevent AML fraud,” Saxena notes.
In the coming year, CFOs will be expected to focus on helping their companies build resilience – whether through critical decision-making backed by a real-time view of financialdata, or ensuring competitive advantage with digital transformation and sustainability initiatives. Steering companies through the economic volatility ahead.
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