Changes in the regulatory, audit and tax landscape are making the preparation of statutory financial statements (SFSs) more complex and an increased burden.
Global organisations in particular face a number of complexities when it comes to reconciling local versus group GAAP and maintaining local GAAP knowledge. This can be time-consuming and costly, and is typically a source of control risk.
The pressure on in-house finance teams to gather appropriate data and correctly prepare SFSs has become a strain. In some countries, SFSs are public. Getting these filings wrong can present reputational, operational and fiscal risks.
To deal with these challenges, companies are increasingly turning to co-sourcing (sharing responsibility for the management and preparation of SFSs with an external provider) and outsourcing (where the provider prepares all financial statements and associated filings).
Whichever option you choose, we can make your life even easier and more productive with a new, simplified SFS preparation process that truly accelerates your business.
We use innovative processes, smart technologies and a fresh perspective to untangle the complexity of your statutory accounting compliance. We help organisations overcome the challenges and keep one step ahead of change to build a new standard of trust in reporting.
What's the problem?
Delivering quality reporting is a growing challenge for companies operating in Switzerland or further afield. Emerging Swiss and global reporting requirements, increased regulatory and auditor scrutiny, wider stakeholder reporting demands and ever-tighter reporting timescales are all creating a perfect storm for external reporting.
To ride this storm, traditional approaches to statutory financial statements need to evolve, fast. Our new end-to-end statutory financial statement solution brings increased control and efficiency by combining our accounting and reporting expertise with leading technology and operational delivery excellence. It builds a new standard of trust in reporting.
What's the solution?
Our solution revolves around the Workiva platform. Workiva helps revolutionise financial reporting, bringing everything together in one place to give you one version of the truth and financial statements fully reconciled with your accounting systems. Our intelligent approach and deep specialist knowledge combine with Workiva to streamline processes, enable collaboration and ensure consistency ‒ all within a controlled, audit-ready cloud platform.
Technology only works if you have the expertise and experience to get the most out of it. Choose our solution and you also benefit from our unparalleled knowledge of the technology and techniques involved in preparing statutory financial statements ‒ including group to local GAAP reconciliation and proactively supporting the management of the audit process and strong processes. And because we invest in continuous improvement, we can help you improve your existing operations to create value from your financial reporting.
Whether you choose co-sourcing or outsourcing, we make your organisation stronger in the long run, giving you flexibility, resilience and help in solving sourcing issues so that you achieve results that really make a difference.
Technology enabled approach
Utilising the Workiva platform helps revolutionise financial reporting, bringing everything together in one place, giving you one version of the truth and financial statements fully reconciled to your accounting systems. Our approach and knowledge, alongside Workiva, streamlines processes, enables collaboration and ensures consistency - all within a controlled, audit-ready cloud platform.
A single collaborative platform allows us to work with you and your auditors in a controlled, digitised environment, creating one single data set: one version of the truth.
The tool is backed by PwC’s technical and practical know-how, which we’re improving on a continuous basis.
Improved data processes combining data collection, storage, cleansing, analysis and mapping in one tool.
Visibility and standardisation of deliverables, working papers and processes, providing efficiency and insight for all internal and external stakeholders.
A sustainable commercial model for compliance delivery.
Flexibility: a model for resourcing and delivering expertise that enables a new way of managing compliance technologies.
Contact
Contact us if you’d like to talk about ways of reducing the complexity of your statutory financial reporting and turning challenges into opportunities.
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