Attendees will leave each session with insight into how, by automating their account reconciliations
, they can:
Visibility, control, and assurance over the entire financial close using automated account reconciliation
Depending on the size of the business concerned, this could result in a single account reconciliation
that is off by [pounds sterling]1m--even tens of millions.
Andrew Zimmermann, Financial Controller Alternatives Companies, Schroder Investment Management Limited, commented: "We selected BlackLine to help us automate account reconciliations
, enabling us to manage our accounts accurately and cost effectively while maintaining high service quality and controlling operational risk.
and Task Management modules from BlackLine Systems
The sidebar, Challenges of a Manual Account Reconciliation
Process, to the right, lists some of the issues weakening internal control over these companies' general ledgers.
Respondents pointed to a lack of management focus, insufficient understanding of the process, a dearth of written policies and procedures and lack of training as challenges affecting their ability to sustain a timely and accurate account reconciliation
Virtually eliminate spreadsheets (and the manual errors that come with them) from their account reconciliation
Procedures for how to prepare a certain account reconciliation
also must be documented.
joins Movaris' other products, Financial Close and Sarbanes-Oxley Compliance.
Frequent maintenance lets CPAs reduce the level of audit work targeted at account reconciliation
and spend more time on critical activities such as client control systems and risk analysis.
Genpact to Provide SmartStream's Account Reconciliation
Solution as Flexible Business Process as a Service (BPaaS) Offering
The session will focus on how accounting/finance directors and compliance officers can further ensure the integrity of their balance sheets - and ultimately financial reports - by implementing enterprise-class financial software packages, such as BlackLine's software-as-a-service (SaaS)-based Financial Close Suite, to automate the traditionally manual, labor-intensive and spreadsheet-driven account reconciliation
With respect specifically to fraud detection, efforts could include financial statement analytics, forensic analysis of unusual transactions, computer hacker or system stress testing through creation of mock transactions, thorough review of balance sheet account reconciliation
and enhanced whistleblower/compliance procedures.
Kevin Spars, managingdirector of financial reporting and accounting atBlackLine client company United Airlines, will follow sharing his experience on how global companies operating in a shared services environment can communicate better, improve efficiencies, increase productivity and reduce bottom line costs by implementing an automated account reconciliation
and financial close system.