Management needs a target-oriented basis for successful and efficient management control. Data and information is constantly being collected, analysed and interpreted. The necessary information as basis for decisions by management is taken from this database. PwC assists companies in setting up interlinked corporate reporting.
Other stakeholders in a company - such as operative departments, accounting, risk management, supervisory board, capital market - obtain their information from this database. Selective decisional bases are provided depending on the requirements of the individual stakeholders. This is achieved in the form of direct access to various databases for employees (e.g. accounting and controlling systems) or in the form of specific reports (e.g. to the supervisory board or the capital market). Externally defined requirements exist for some of this information with regard to form, content and frequency. This applies in particular to information for the capital market.
Good internal reporting provides management with all information necessary to control and steer the business.
The constantly increasing demands of the stakeholders with regard to the depth, width, frequency and reliability of provided information make sustained, integrated and robust corporate reporting indispensable. Capital markets and banks, for instance, now expect robust financial information for a complete quarter to be available just a few days after the cut-off date. Being able to provide this information is further complicated by the rising complexity of corporate activities and the processing of exponential growth in volumes of relevant data and information.
On this basis, a good internal reporting system distinguishes itself by providing management with all necessary information for control purposes while at the same time offering appropriate information to all other stakeholders. That is why corporate reporting has to be regarded as an overall discipline which is based upon interlinking internal and external reporting and on a process which does not depend on individuals for its functioning and monitoring.
PwC can assist companies in implementing interlinked corporate reporting. Specialists assist companies with the installation of processes for collecting, aggregating and interpreting financial and non-financial data. Together with the company, PwC uncovers efficiency potential for reporting preparation for internal departments (e.g. Accounting, Controlling, Budgeting, Risk Management, Sustainability Management) or for external recipients (such as supervisory board, capital market, lenders, regulators).
As a result, corporate reporting becomes not only more efficient and faster, it also ensures sustained reporting compliance. Important and correct information is provided for the respective recipients within the necessary deadlines. At the same time, PwC specialists and the company link index reporting to management with the capital market communication strategy. As a result, PwC and the company together create an optimum lever for value reporting.
Partner C00 Assurance und Leiter Kapitalmarkt- und Rechnungslegungsberatung, PwC Germany
Tel: +49 211 981-2839