Visit : https://finalyzer.beyondsquare.com || https://xbrl.beyondsquare.com Statutory reporting consumes a significant amount of time, effort and cost. The statutory reporting function is constantly evolving as organizations look to further streamline their finance function through technology transformation and other cost-cutting initiatives. Manually prepared reports present challenges around data inaccuracy, inconsistency, lack of audit trail. They are time consuming and subject to significant operational risk. If consolidation is involved, there are a whole new set of challenges to deal with – standardisation of account grouping, forex translation, elimination, minority interests etc. Incorrect reporting due to manual errors and omissions can be quite costly. Hundreds of companies are routinely investigated and penalised each year for violating disclosure norms. Organizations are looking at technology solutions to ease out and streamline the regulatory reporting...
Comments
Post a Comment