To the list of unexpected challenges imposed on CFOs by COVID-19, add this one: closing the corporate books with nobody in the office. For many, finessing a virtual close with remote workers won’t be easy, but it will be doable—with smart, fast planning.
The need for accurate financial reporting to drive business decisions and inform stakeholders has seldom been more critical. But the financial close is a highly orchestrated process in which team members depend upon each other to produce deliverables on a tight schedule in precise sequence—a symphony of moving parts that could quickly become discordant when well-practiced routines move to a virtual environment.
On this webcast, KPMG LLP subject matter specialists reveal a four-phase virtual approach aimed at getting this month’s close out the door responsibly—and then refining the process to make it robust and sustainable for as long as required.
Discussion topics during this 60-minute webcast include:
- Considerations for training and preparing your workforce for a virtual close
- Potential challenges posed across six dimensions of the financial close and reporting process, and how leaders can address them
- How process standardization and automation can help drive benefits in the near term and long after COVID-19.
Presented by KPMG’s CFO Real Insights Webcast series
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.