Deloitte Regulatory Updates and Local GAAP Model Financial Statements for Global Statutory Reporting
Automate more of your local GAAP statutory reporting leveraging Deloitte's technical expertise.
Local GAAP statutory reporting is an integral part of every organization’s finance function. As reporting requirements increases in complexity and businesses continue to grow, automation plays a crucial role in ensuring your reports are prepared in a timely, accurate, and efficient manner.
Deloitte has developed a solution that:
- Uses Workiva functionality to keep up to date with regulatory changes in local GAAP impacting your financial statements and provides your teams with the information they need to ensure that your subsidiaries are prepared in line with local GAAP, reducing statutory audit timelines and cost
- Incorporates model local GAAP financial statements and sample disclosures across your jurisdictions directly into the Workiva platform, which are industry agnostic and built in such a way that they are easy to use
- Delivers regulatory updates providing changes in local regulations impacting financial statements to keep you ahead of significant changes ahead of your reporting cycle
The use of Workiva’s cloud platform:
- Allows multiple users to access the workbook and document at the same time, reducing your project management overhead
- Provides detailed tracking of changes made as well as functionality to illustrate, quickly and clearly, to your statutory reporting teams and local GAAP controllers the changes between versions
- Provides a single platform to also manage your local GAAP reporting and disclosures
- Allows you to store centrally and distribute across your teams in real time regardless of location
Deloitte will work with you in the configuration of this solution to meet your organization’s specific needs, enhance your statutory reporting processes, save time, and mitigate errors in the production of these reports, enabling your team to focus on driving compliance-based outcomes.