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CFO Insights: Closing time – Preparing for the next virtual financial close

Published on: May 14, 2020

For many public companies, their first virtual close is already behind them. Many can now take stock of the reporting challenges they faced and the gaps they uncovered, as well as look for ways to improve systems and processes in preparation for the next remote close, which may be already underway.

Some of the critical questions for that next iteration involve technology: Did current technology perform as expected in the virtual environment? Were there other tools, such as predictive analytics or artificial intelligence, that could have made the process easier? Other questions involve the finance team: How well did distributed finance and accounting teams collaborate? Were the existing contingency plans sufficient?

In this issue of CFO Insights, we’ll guide finance executives through such questions, as well as options to consider, as they seek to boost the function’s resiliency by mastering the virtual financial close.

This publication was released by our US firm.

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