Financial Reporting Process Improvement

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At a time when everyone from corporate executives to regulators and investors wants more, and more timely, financial information, many enterprises are realizing that each additional accounting standard – such as U.S. GAAP or IFRS – adds yet another layer of complexity to the reporting process. Using Fiat Chrysler as a case study, Workiva’s Joe… Read more »

Next Generation Audit

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Transformed by Advanced Technologies Reliable information has always been vital to decision making, as well as to investor confidence, in the business world. Executives leading these enterprises, as well as their auditors, must be prepared for an environment that is data-rich and technologically enabled. Like so much in today’s business world, this new strand-data and… Read more »

Extrinsic Recruiting Team Supports Healthcare Provider

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Client Challenge The Director of IT Applications for a respected Healthcare provider in North Carolina was in urgent need of upgrading their Kronos time keeping system seeking additional functionality and needed to work under a tight budget relative to commercial counterparts. Identified Resource Extrinsic identified a specialized consultant with 15 years of KRONOS experience. This… Read more »

Successful Partnership Through Extrinsic – Providing Workday Solutions

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Client Challenge In the post-production stage of implementing Workday, our client, a Telecom/Communication Services company in Colorado, was in open-enrollment and did not have Workday Benefits rolled out. Workday Benefits was not configured during the implementation and was being used as an administrative tool. They could not use the self-service option for this module, based… Read more »

Successful Partnership Through Extrinsic

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Client Challenge One of the largest communication technology companies in the world had a challenge within their heavily customized version of PeopleSoft resulting in a breakdown of the application not properly performing accounting treatment on transactions and asset depreciation. Identified Resource The consultant provided by Extrinsic had over 15 years of specific experience in PeopleSoft… Read more »

Providing Data Solutions

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Client Challenge One of the largest privately held insurance companies in North America found themselves under increasing regulatory pressure as they expanded business lines into several key states previously dominated by their competition. Senior members of the CIS group and Project Management Office identified a core weakness specifically in IT Risk Management and Process and… Read more »

Giving Voice to Values: The ‘How’ of Business Ethics

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Ethics can be an overused, buzzword in society today and we can become callused and non-responsive when we hear that term. Additionally, we can have a hard time knowing how to apply it in the various circumstances we face. By definition, ethics are the moral principles that govern a person’s behavior or the conducting of… Read more »

Matching Internal Controls to Real Life Change

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Auditing Transition Adjustments Obtaining an understanding of a company’s selection and application of accounting principles is part of the auditor’s procedures to identify and evaluate risks of material misstatement under PCAOB standards. Additionally, the auditor is required to evaluate a change in accounting principle to determine whether the method of accounting for the effect of… Read more »

Revenue Recognition Follow Up Summary

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In January 2018, the new revenue recognition standard (Update No. 2014-09; ASC 606) takes effect. The standard has broad implications and may affect many parts of your organization: financial statements, business processes, taxes, and internal controls over financial reporting. It requires the collaborative efforts of multiple departments within the company, including financial reporting, IT, sales,… Read more »

Leverage Predictive Analytics to Improve Business Operations

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Overview More and more businesses are beginning to leverage predictive analytics to increase revenue, reduce cost and improve service to customers. However, many others are not sure how to get started or believe they need to hire a new department of data scientists. With these unknowns determining the true ROI of implementing predictive analytics can… Read more »