Accounting and reporting automation

Accounting and reporting automation

Methodological and technical assistance of the company in automating the process of preparing financial statements in accordance with IFRS.

Automating the process of preparing financial statements in accordance with IFRS.

Essential Services

This service involves methodological and technical assistance for your company when automating the process of preparing IFRS financial statements.

 

Details

  • KPMG provides expert analysis and comparison of the financial accounting, management accounting, and tax accounting methodologies used by your company. This includes identifying any differences between methodologies, and developing proposals for unifying and consolidating respective approaches.
  •  We also offer gap analysis of your company’s current accounting system settings and develop proposals based on specific business requirements for IFRS reporting.
  • KPMG develops a comprehensive list of functional requirements for your company’s IT systems and prepares terms of reference for developers.
  • We can draft proposals for your company’s IT architecture and develop an IFRS financial statement transformation methodology for accounting and reporting automation purposes.
  • KPMG gives your company methodological support for implementation and internal testing.
  • We analyse your company’s internal processes related on preparing financial statements with an eye to the distribution of responsibilities, functions, and document flows. KPMG then provides recommendations for optimisation and standardisation of processes, procedures, and controls.
  • Finally, KPMG analyses your company’s IFRS department’s organisational structure and its distribution of responsibilities, providing recommendations on optimisation.

 

Benefits and Opportunities

  • Your company can apply unified accounting principles in accounting, management, and tax areas.
  • Your company can also take full advantage of the standard functionality of its IT systems.
  • Your company receives a unified methodological model of IFRS accounting that takes into account the capabilities of its standard functionality.
  • Minimal effort required to close reporting periods and easy adherence to limited deadlines for submitting financial statements to the regulator.
  • Improved efficiency in making management decisions based on high-quality, timely, and comprehensive financial information.

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