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Enhanced Corporate Reporting and Accounting
ECRA is EY’s global offering that helps with complex issues arising from proposed new financial and non-financial guidance and the impact on existing systems and processes. EY teams can help support modern finance organisations by aiding them in meeting the rapidly evolving regulatory and stakeholder demands for high-quality enhanced corporate reporting, and building new evaluation frameworks that measure and value financial and nonfinancial outcomes.
What EY teams can do for you
Finance leaders, including CFOs, financial controllers and treasurers, are facing increasing demand from stakeholders to provide trusted and increasingly transparent financial and nonfinancial reporting to communicate their organization’s progress against strategic priorities and the creation of long-term, sustainable value.
Finance teams continue to respond to evolving financial reporting standard and regulatory changes from the International Accounting Standards Board (IASB), Financial Accounting Standards Board (FASB) and other local standard setting authorities. At the same time, organizations are looking to finance leaders to play an increasingly strategic role, collaborating across their organizations and supporting operational decision-making.
Organizations and finance leaders should understand and assess the impact of these changes across their businesses and on their performance, as well as the direct impact it could have on the finance function and access to capital.
Impact assessment includes putting increased effort into:
- Applying technical accounting knowledge
- Defining clear and consistent accounting policies and guidelines
- Innovating processes to leverage new technologies, tools and analytics
- Building new team skills and capabilities to improve reporting performance
EY Financial Accounting Advisory Services (FAAS) and Sustainability professionals can help your organization meet stakeholder demands and navigate the ever-changing accounting and reporting landscape. EY teams can assist management as they address the following areas: