Optimising financial processes

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R2R Webcast; Internal Audit and Updated COSO Framework; The Perils of Thinking Fast

In this issue: +++ Record to Report: Getting to a Safer-Faster-Better-Close +++ Internal Auditors, are you ready for updated COSO Framework? +++ Don’t Trust Your Instinct – The Perils of Thinking Fast +++

Record to Report: Getting to a Safer-Faster-Better Close

For many, the last mile of finance is a world of late nights, detailed analyses, and painstaking reconciliations, fraught with the dangers of negatively affected accuracy, efficiency, or controls effectiveness. However, some have managed to significantly simplify this historically complex landscape — bolstering efficiency and effectiveness — through a series of smart, incremental, sustainable improvements.

Consider Solutions is delighted to invite you to an executive briefing webcast that examines the smart initiatives these leaders are taking to get to a “safer, faster, better close”. By identifying critical capability gaps and high-impact best practices, this webcast will discuss how to incorporate continuous, incremental improvement into the Record to Report process.

The webcast will take place on Thursday, December 4th

10:00 AM Eastern Time, 3:00 PM GMT (UK).

Register your attendance here.

Internal Auditors, are you ready for updated COSO Framework?

Even if the updated COSO framework is already de rigueur at your organisation, Internal Auditors need to be prepared to address inquiries by management and shareholders regarding transition to the new framework:

  • Are companies in compliance with the 2013 framework for internal controls?
  • If not, why and what changes will be needed to comply?
  • What are the time frames and costs to do so?

In this whitepaper, Compliance Week columnist Jose Tabuena analyses what’s new in the updated framework and highlights some of the aspects to look out for as companies transition to it. Access the whitepaper here. 

Don’t Trust Your Instinct – The Perils of Thinking Fast

From grade school up to college and beyond, we have constantly been fed the same platitude that our first instinct is probably the right answer. We’re told to listen to our gut and believe our intuition, and when in doubt, our subconscious will deliver. But that’s only sometimes how it works.

But how does this apply to the workplace? The problem is, we don’t know the limits of our own knowledge, and where our subconscious is substituting stereotypes or previous biases for real information. What becomes dangerous in the boardroom is a problem our subconscious thinks it can solve, but lacks the necessary information to do so. To arrive at world-class operations and process efficiency, the right questions must be asked, and answered.
Read the rest of the post here.