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Intercompany accounting activity poses corporate risk

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Aug 15, 2016

On August 15, 2016, the Deloitte US firm released an article where they discuss how intercompany accounting can be challenging. According to a Deloitte poll, these challenges arise in part because the different legal entities that make up a business may use a wide variety of software.

Here are five best practices for overcoming intercompany accounting problems:

  • Standardise global policies that govern critical areas across the organisation
  • Establish a centre of excellence
  • Set up a master data management programme to execute standardised global policies
  • Define a cash management strategy to net and settle transactions
  • Use a third-party reconcilliation software tool that matches transactions

Review the press release and the poll on Deloitte US's website.

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