Preparing financial statements in an increasingly complex reporting environment whilst managing compliance with applicable accounting standards and regulations comes with a set of challenges commonly faced by finance teams of many organisations:
- Skill set shortages or unexpected key staff resignations/unavailability.
- Widespread use of non-standard, offline workpapers with no audit trail.
- Compliance activities that distract the finance team from delivery across more strategic objectives.
- Increasing finance data and system complexity.
- Additional pressures and constraints placed on finance teams post COVID-19.
Deloitte has collaborated with Workiva, a global SaaS company which provides a cloud-based platform, to develop a technology enabled solution that automates financial statements compilation.
Our technology enabled solution leverages our combined digital and accounting experience and tools, to help streamline your financial statement preparation, connect data and teams, and maintain consistency in both reporting and process. The Workiva cloud platform also helps us improve control in financial statement preparation with a complete audit trail where an audit is required.
We can help with:
- Compilation of financial statements in accordance with Australian Accounting Standards and/or International Financial Reporting Standards
- Preparation of compliant financial statement templates
- Assistance with development of accounting policies
- Assistance with complex accounting and disclosure considerations
- Assistance with consolidation workings
- Assistance with new accounting standards and disclosures
- Preparation of cash flow statements
- Financial reporting disclosure gap assessments.
Download the placemat to learn more.