Financial Close

Delivering results on time

The month-end closing process is integral to achieving financial excellence, and one of the most essential elements of the financial statement preparation and review process.

Rising stakeholder expectations and intensifying regulations for more timely and enhanced financial information has increased the complexity of financial close in recent years.

The accuracy of financial statements depends not only on accuracy of the information, but also on all data being recorded in the correct financial statement period.

Solutions from StraitsBridge

financial control risk management
An efficient and high-quality financial close combines resources, people, and technology to optimize and streamline processes, lower operating costs, manage performance, and minimize certain risks.

At StraitsBridge, we can help CFOs overcome the barriers to achieving an efficient, high-quality close. We converge traditionally disparate disciplines of general ledger management, business intelligence, governance, control processes, and compliance to deliver trusted data into the hands of key stakeholders in a timely manner.

Our methodology is based on the expertise of our consultants who bring deep insights from their experience in senior finance roles in leading banks and financial services firms.

Key areas of delivery

Efficient project initiation

Analyze current processes, structures and systems, benchmark them against industry best practice to identify areas for improvement
Design optimized processes, structures, guidelines and closing calendars to manage the overall closing process in a time-efficient manner

Implement optimized processes, structures, guidelines, closing calendars and tracking tools

Monitor the optimized closing process.

Our approach to Financial Close is flexible and allows the project to be modularly applied, as required. The complexity and duration of the project can vary from a short assessment to a comprehensive redesign of processes.

Contact us for more information
Email us:
Call us on: +65 6408 0501

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Lessons from the global financial crisis

The failure to accurately record financial data can result in inaccurate or misleading financial statements which could cause legal, regulatory and/or reputational risk.

The continual fallout of the global crisis has demonstrated the challenges faced by financial institutions when dealing with:

Issues in data complexity

Disconnected processes

Lack of transparency, and

Disjointed decision making

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