Financial Services Ireland


Enabling your remote financial close

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The current business environment has introduced significant risk to companies’ month-end close and financial reporting processes. With employees working from home, firms are required to deliver their first fully remote month end and quarter close. Finance teams must consider the impacts of this virtual close, which will require tighter coordination and necessitate working closer together than ever before.

Some of the new and complex challenges which companies are facing as they prepare to execute their remote financial close include:

  • Time delays due to a remote and distracted workforce
  • Abrupt changes to the macroeconomic environment that may drive incremental requirements
  • Inadequate information to support accounting judgements and earnings guidance
  • Lack of updated effective controls for remote close and reporting

To help firms navigate this disruption, our most recent guidance outlines the broad context in which the close needs to be completed as well as key operational and market considerations. It covers such topics as:

  • Impacts of Covid-19 on the finance function
  • Considerations as we look ahead to planning future close periods, and how firms can adapt and tactically respond
  • People: key-resource priorities, including employee welfare and impact on the close
  • Evolving regulatory guidelines and requirements

Download this document below and don’t hesitate to reach out if you have a question. You can also review our latest insights and thinking to support you in leading through these volatile times.

Thought Leaders

Danny Buckley

Banking & Capital Markets, Sector Leader

Dermot Keegan

FS Partner, CFO Advisory