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Fast close
Effective business management requires timely and reliable financial and management information. Banks and investors require prompt presentation of information regarding the company’s financial position. To address these challenges, we offer a range of services for optimizing the reporting processes.
Fast close projects require a complex approach to re-engineering business processes and achieving optimization in different areas of finance and business:
- Optimization of primary document flow;
- Using accruals for documents which cannot be received faster;
- Streamlining of inter-company accounts reconciliation;
- Changes in tax accounting and reporting procedures in order to match the requirements of a fast close;
- Optimization of books close processes, including transformation and consolidation of reporting;
- Development of the internal control system, ensuring consistent quality of the reports when the fast close process is implemented.
The end result is a faster IFRS reporting process.
© Deloitte LLP & Deloitte TCF, LLP, 2011
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