Ensuring effective and efficient Internal Control over Financial Reporting (ICFR) is a challenge at the best of times.

Our business risks are exposed through the interactions between our processes, people, third parties, applications and technologies. ICFR is a relevant topic for all organizations, public and private, concerned with corporate governance and financial risk management.

Today, we have accelerating business challenges with price inflation, supply chains, regulation, interest rates, hybrid working models, ESG, third party risk, M&A, consumer behaviour, cyber risk, fraud and geopolitical instability.

These are turbulent times. We are driving fast in, at best, variable conditions, and in many cases with very little visibility.

69% of major corporations have had one or more significant audit deficiencies in the last 3 years, and that is understandably on the increase. Despite huge investments in digitization, the financial control problem isn’t going away.

We have dug much deeper and will share the trends on ICFR, the key challenges affect audit, finance and IT, the impact of technology, key questions to ask and some strategies for an agile response to better navigate these choppy waters.

Dan French and Hans van Nes got together on July 13th for this key discussion. 

You can see the recorded event including live polls (40 minutes) below . . .

If you would like a copy of the “ICFR Playbook” you can request it here . . .