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Events and Turnarounds: Finance Transformation Solution Set

Making the most of critical moments


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Leaders must manage change. It comes with the territory. From new regulations to fraud to potential bankruptcy, critical events require a quick and effective response, often beyond the capabilities of the Finance organization. Deloitte’s1 Events and Turnarounds Solution Set helps leaders protect and steer their organizations to emerge more effective and resilient.

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Featured insights

Reducing Fraudulent Claims and Their Costs
Claims fraud increasingly cuts across many industries, not just the insurance sector. Companies outside the insurance sector can learn from the steps it has taken to reduce the cost of claims fraud and mitigate potential future increases, especially as attitudes about falsifying or inflating claims become less harsh and criminal groups explore more opportunities to commit claims fraud.

Anti-corruption programs: Is yours up to snuff?
For CFOs, it's important to have a robust anti-corruption program in place – and have evidence that the program is operating effectively.

An overview of PCAOB’s final auditing standard on communications with audit committees
Deloitte’s “Heads Up” provides an overview of “PCAOB Release No. 2012-004, Auditing Standard No. 16, Communications with Audit Committees” and highlights the significant ways it differs from current standards and from the December 2011 reproposal.  If approved by the SEC, AS 16 will be effective for audits of fiscal years beginning on or after December 15, 2012.

Three strategies for thriving under Dodd-Frank
In the post Dodd-Frank era, a number of major financial institutions may be challenged to effectively, and profitably, navigate through the next five years. To stay ahead, financial institutions may find benefits in adopting three concurrent strategies: creating an enterprise-wide regulatory ‘air traffic controller,’ restructuring the business and increasing transparency through world-class information management and analytical capabilities.

FASB finalizes amendments on testing indefinite-lived intangible assets for impairment
Deloitte’s “Heads Up” discusses FASB’s recently issued ASU 2012-02, which amends the guidance in ASC 350-30 on testing indefinite-lived intangible assets, other than goodwill, for impairment. The Board issued the ASU in response to feedback on ASU 2011-08, which amended the goodwill impairment testing requirements by allowing an entity to perform a qualitative impairment assessment before proceeding to the two-step impairment test.

Communicating with stakeholders in a crisis
When companies find themselves in operational or financial turmoil, communicating with stakeholders and other constituents about the challenges can help restore credibility, create clarity and provide an opening toward a solution. Learn how from this episode of Deloitte Insights with speakers Mark Liscio of Kaye Scholer and Michael Epstein of Deloitte Financial Advisory Services.

FASB’s new option for simplifying goodwill impairment testing requirement comes with complications
On September 15, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08. The ASU introduced an optional, qualitative impairment assessment that companies can undertake.

Recent developments in prepaid access: Considerations for deterring money laundering
Watch this episode of Deloitte Insights to learn how card issuers and financial institutions can strengthen their anti-money laundering programs.

New FATF recommendations
Read about the new FATF recommendations on customer due diligence/beneficial owners.

How vigilant is vigilant enough?
Struggling with the magnitude and complexity of data systems when determining how to best test for compliance with anti-corruption laws or respond to regulatory inquiries? Read the Fraud Magazine article for insights from Deloitte.

Bankruptcy and fraud: The ties that bind
Analysis and insight from Deloitte bankruptcy survey.

Ten things about bankruptcy and fraud
Read the report that explores the correlation between bankruptcy and fraud.

1As used in this document, “Deloitte” means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Consulting LLP, which provides strategy, operations, technology, systems, outsourcing and human capital consulting services; Deloitte Tax LLP, which provides tax services; and Deloitte Financial Advisory Services LLP, which provides financial advisory services. These entities are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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