IFRS Talks: Listen to the latest episode
On our IFRS Talks podcast, PwC professionals will help you to keep up to date and share their perspectives on an increasingly complex financial reporting environment.
The future of finance: Leveraging automation to deliver undiscovered value
Access to real time financial data is critical for effective decision making. However, traditional financial processes in most organisations mean that finance functions require significant turnaround time on generating reports for management that are historical-focused and unable to deliver predictive insights.
Finance functions are also experiencing significant accounting changes due to new standards, and requiring more detailed disclosures, complex calculations and valuations. This has created the need for tailored solutions such as bespoke systems or robotic process automation (RPA) tools to increase the efficiency and accuracy in reporting.
Group reporting and consolidation
We support you in speeding up your financial consolidation process and to seamlessly manage complex consolidation challenges from end-to-end:
- Automated statutory and management consolidation
- Multi GAAP management
- Foreign currency conversions
- Workflow set up to manage and monitor the group reporting and consolidation process.
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Group reporting and consolidation
How can we help
The world is changing and we enable you to capitalise on these changes. With our in-depth knowledge and established credentials in finance, accounting and reporting advisory, we are well-positioned to support you in the automation of your reporting requirements.
We support you “from strategy through execution” to shape a future-ready finance function on your reporting automation journey through:
- Standardisation and automation of the process and harmonising your data, evaluation of where and when to invest with a focus on the cost-benefit ratio
- Planning your technology roadmap
- Integration of strategic, non-financial value drivers and information in financial and management reporting
Digitised Finance Disclosure Management Solutions
Companies undergoing transformative changes must reevaluate processes, including “last mile reporting”/close and reporting processes. PwC can help address changes with technology that can automate this process.
The benefits of investing in consolidation software in times of change
Companies undergoing transformative business/market changes must constantly be reevaluating their existing systems and processes. This includes their overall Enterprise Resource Planning (“ERP”) and close/consolidation system landscape. Several types of business changes that are triggering companies to implement new technologies that will automate the close and consolidation accounting processes. Financial consolidation systems allow companies to report on consolidated financial statements and internal reports by “sitting on top” of the ERP layer. PwC can help organisations help realize value creation from investments in these types of technology leads to realized value creation.
A digital transformation in global reporting is needed
As many as 50,000 companies situated in the European Union will need to consider transforming their reporting mechanisms to conform with the new Corporate Sustainability Reporting Directive (CSRD) requirements. The new reporting requirements will present real challenges to companies when organising, collating, accessing, exploring, evaluating and acting on relevant data.
Impact of ESG matters on IFRS financial statements
The impact of climate change is a high-profile issue that investors and regulators are focusing on. This In depth considers the impact of the environmental, social and governance (ESG) matters, specifically focused on the effect of climate change on the IFRS financial statements.
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