Financial reporting

Your business is expected to deliver huge quantities of information in a short time, error-free

Real-time reporting is the new norm. Want more efficient financial reporting that also adds business value? PwC Belgium can help you rethink your finance process, tailored to your specific business needs.

Want more efficient financial reporting that also adds business value?

Stakeholder expectations are high at a time when regulations are more rigorous, complex and change faster than ever before. To keep up with the ever-increasing volume of financial reporting, businesses must incorporate the latest digital technologies into their reporting now or get left behind.

How do you account for cyber currencies?

How do you understand the numbers? Is your system equipped for real-time reporting? Can you anticipate the impact of modifications and how they’ll affect your income statements and profitability?

How do you record and recognise earnings, your timing for revenue recognition, regulatory capacity, the number of loans you can issue, pricing… your entire business?

"Stakeholders expect large quantities of error-free information, at any time, from anywhere. Increasingly complex regulations, constant changes and higher volumes have pushed financial reporting to a level that an outdated reporting infrastructure will no longer support."

Jeroen Bockaert, Partner, Financial Services

Your challenges

As the need for more reporting in greater detail within shorter timeframes continues to increase, it can be a challenge to simply keep up, let alone to use financial reporting as a tool for improved decision making and adding real value to your business.

In the era of real-time reporting, organisations commonly struggle with:

  • Keeping up to speed with constantly evolving International Financial Reporting Standards (IFRS) requirements
  • Identifying processes and controls you need to have in place to manage new requirements adequately and efficiently
  • Ensuring your reporting under IFRS is also fully aligned with your regulatory reporting and with supervisory expectations
  • Keeping up with advancements in the regulatory and supervisory fields
  • Ensuring your reports meet quality standards and producing them efficiently within the necessary timeframe
  • Ensuring your numbers are reliable, understandable and easily explained

How we can help

We work with you to rethink your finance process, tailored to your specific business needs.

Our PwC team of dedicated finance professionals combines highly-specialised sector and regulations knowledge with extensive experience and the latest technology to truly understand your business.

We’ll help you evaluate and redesign your financial reporting by:

  • Rethinking and improving your data infrastructure/data management systems and data flow
  • Identifying and establishing best practices
  • Implementing the right controls for qualitative reporting
  • Identifying your needs and reducing complexities
  • Redesigning your process for maximum efficiency across your organisation

Are you leveraging the full value of financial reporting?

We’ll help you navigate the waters of adherence and regulatory compliance to optimise the complexities of financial reporting:

  • IFRS
  • Belgian Generally Accepted Accounting Principles (GAAP)
  • Common Reporting Framework (COREP) and Financial Reporting Standards (FINREP)
  • Impairment for loans
  • Collective provisioning
  • Derivatives and hedge accounting
  • Derecognition and more as a business in itself

Contact us

Jeroen Bockaert
Partner, PwC Belgium
Tel: +32 (0)2 710 7195
Email

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