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In Europe, new necessities like ESEF now mean that over 5,300 firms must meet an annual filing requirement that encompasses not only expanded disclosure, but the introduction of iXBRL. With this approach, organizations are left guessing on the main points of the activities performed to satisfy their regulatory and statutory reporting necessities. The statutory account preparation stage is immediately dependent on the actions performed upstream inside the Office of Finance. Having all of these actions performed with Cadency’s System of Controls (SOC) and directly connecting to the system accountable for ultimate creation and filing of required statutory reviews is important and a key element to firmly establishing a whole System of Accounting Intelligence (SOAI). This integration leverages the important thing processes within Cadency (Reconciliations, Close Management, Journal Entry and Compliance) along with the strengths of Workiva’s WDesk, Wdata and Compliance capabilities. To effectively meet statutory necessities, several key controls and steps are wanted to ensure studies are completed in an correct and timely trend.

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