Managing difficult financial reporting situations In this article, we provide an overview of actions management and audit committees can take to manage difficult financial reporting situations. We specifically discuss investigating potential accounting errors that may involve misconduct and evaluating materiality when a financial statement error is identified.
Financial Services M&A Insights: Transactions in a volatile environment For the first six months of 2008, there were 375 financial services deals (disclosed and non-disclosed), a 29 percent decline in deal volume from the same period last year and a 26 percent drop from the second half of 2007. According to PricewaterhouseCoopers' Financial Services M&A mid-year outlook, continued instability in the industry, coupled with an influx of unsatisfactory news, some investors stayed on the sidelines. However, not all investors stayed away. Sovereign funds, non-US acquirers and private equity firms remained fairly active. Both sovereign funds and private equity firms will continue to be an important capital source for cash strapped banks.
Harvesting value while reducing costs: A rapid approach to organizational restructuring Financial services executives view access to key talent as a crucial source of competitive advantage. As CFOs carry out cost-cutting initiatives, they cannot afford to risk cutting the wrong people. Using a staged approach to cost reduction enables companies to build on quick wins and gradually create a culture of cost management. Value-based organizational restructuring, which quickly generates cost reductions without sacrificing valuable talent, can help fund subsequent reduction efforts, including sourcing, process reengineering, and technology automation, while optimizing the long-term value of the organization and its talent.
How to improve account reconciliation activities This article explores common, recurring problems with account reconciliations and the practices that can improve their effectiveness and efficiency.
Financial services 2007 budgeting and forecasting study This study is based on research conducted to understand how finance executives are responding to new challenges. We examined both established financial planning practices and emerging trends to uncover links between leading practices and overall satisfaction with large organizations’ financial planning processes.
