Trusted Financials
Do you really know what is in your Balance Sheet?
Information is released sooner and sooner to enable timely decision-making. But, do you really know that someone, especially you, can trust your financial statements? Every single number?
According to the Oxford Languages Dictionary, trust is the firm belief in the reliability, truth, ability or strength of someone or something. The firm belief in the truth. How do you know what is the truth? How do you know what really makes up or should make up your Balance Sheet or if there is a pending impact on your Income Statement?
Documenting and optimizing your reconciliation process can enhance the trust in your financial statements by giving you confidence that:
Individuals are finding, researching and reporting amounts not properly supported in your balance sheet
Individuals with the right skill set are preparing and reviewing your reconciliations
Higher risk accounts are being reconciled earlier in the close cycle
Individuals involved in your reconciliation process are establishing quality reconciliations
GET RECONCILIATION STRONG™
What is one thing you can do today to restore the trust in your financial statements? Consider asking your team their opinion of your current reconciliation process and if they would like to be involved in optimizing it. You might just find someone who is passionate about the impact that a quality reconciliation process can have on your organization. Let’s get them and the rest of your team reconciliation strong. You’ll end up with numbers that can be trusted because they are supported by quality reconciliations.
