Many organizations struggle with significant challenges related to their accounting function. Even with adequate resources and effective leadership, they may still experience issues with providing accurate reports, timely closing of the books, inefficient manual processes, absent internal controls, and/or accounting policy compliance.
The good news? It may be easier than you might think to peel back the onion, identify the issues, and implement effective solutions. An accounting assessment helps organizations create a more efficient and scalable finance and accounting process.
An assessment empowers your accounting department to make the changes necessary to support strategic decision-making and become an asset to the organization. It involves acquiring an understanding of the entire organization as well as a “deep dive” to analyze all components of your accounting system.
The resulting accounting system assessment provides management with valuable information regarding the accounting system and use of related applications, implementation of best practices, development of stronger internal controls, as well as budgeting and reporting. Operational inefficiencies are identified and recommendations for improvement, including cloud-based technologies, are provided in a formal report.