Your bank statement reconciliation sits on the front-line in the defence against fraud. If it is done right it will save you time, money and embarrassment. If done wrong, it could cost your business… First of all let’s understand what is meant by fraud…

The monthly close reconciliation process is a key check of the reported figures. If you can match off your transactions and reconcile the amounts then you can be more confident that your business is paying and receiving the right amount of money. However, since the reconciliation procedure is such an important financial check, it is […]

The UK auditing firm KPMG’s Audit Committee Institute recently found that the number of auditors with concerns about cyber security and cyber crime, had doubled in the last year. Despite these concerns, businesses have not made significant improvements to the quality of fraud and theft prevention processes. In order to combat the threat of cyber-crime, […]

Every finance employee knows of risk and its management, but what about risk management in the monthly close? Throughout history a qualitative leap must take place, and automation is key. At least if you want to manage the risk of risks in the monthly close. The threat of risk, if poorly managed can lead to extra […]

With the whistle-blower protection, reports of financial malpractice can come from within and organisation. Isn’t it worrying that Finance Directors and CFOs are legally responsible for an accurate monthly close report, yet only 30% actually trust the reported figures? According to the Adra Match survey of financial accounting staff, an average of 72% said they […]

You could be overpaying for your finance lease without realising it, especially if you have many leasing contracts. Overcome lease reconciliation challenges and make sure you only pay what you actually owe. How much is outstanding on each of your current finance leases? It is an innocuous enough question, but for companies with multiple finance […]

We would all like to think we have tight control over the accounting team and their accounts and reconciliation processes, but in reality this control is extremely limited. According to the recent Adra Match survey of European and American finance staff, most CFOs struggle to gain control over their monthly close process. In fact, an […]

Does low-tech necessarily mean low-cost? Perhaps not. Financial Close Reconciliation software is transparently cost-effective.  We like security. You like security. As CFO’s we not only like security, we demand it. Our brains will always store constant reminders of Governance, Risk and Compliance. Storing all monthly close reports in binders may provide that old-fashioned feel of […]

Don’t treat it with bitterness. It is the job of the Financial Controller to rise to the challenges presented by a recession, rather than bitterness. Done well, you will emerge leaner and stronger. And you will be ready for a return to strong growth.  Undoubtedly, many of us will be happy to have 2012 behind […]