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In the midst of economic uncertainty and regulatory change, audit committees, CFOs and finance executives must constantly evaluate how macro trends impact their organizations – and the markets they serve.
It’s no longer enough to understand what happened yesterday. Board members and C-suite leaders must be dialed into the risk landscape, with the right data and insights to stay ahead of today’s and tomorrow’s evolving business landscape.
The insights CFOs value
CFOs can help resolve tensions and balance short-term and long-term priorities. They can provide valuable insight on decision-making, navigating trade-offs, fostering consensus across the C-suite and helping to align decisions with the organization’s long-term value strategy.
The assurance boards need
The audit of the future is data-, technology- and insight-driven so that audit committees can focus on the risks that matter. Today’s audit delivers a high-quality and independent view of the organization to spur better questions that delve into – and beyond – the numbers.
Sector-driven innovation
Retail
While working with a fashion apparel business, one of our audit teams observed that a clothing line had a larger than average number of SKUs (but not larger than average revenue). Based on this audit finding, the client considered rationalizing the number of SKUs, which would support efforts to streamline processes.
Life sciences
Using proprietary analytics for gross-to-net accounting, an audit team noticed that a company was holding Medicaid accruals open beyond the period when it would normally make those material payments. The audit team was able to quickly investigate and communicate the finding to management without digging through thousands of lines of data manually.
Real estate
Using real estate sector analytics, the audit team was able to look at a company’s entire population of leases, drilling down into the tenant and property levels to confirm that the team was asking the right questions about straight line periods, rent steps and more.
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