Improving the effectiveness of clients’ financial functions
Accounting and finance departments are continually changing, not only with changes to products, transactions, and organizations but also with the ever-evolving diversity and complexity of accounting standards and information systems. Meanwhile, these departments encounter constant demands for “Fast Close” and more efficient business processes. It is not easy to review business processes objectively while executing those same processes. Further, business processes must be checked from the standpoint of internal controls. Key to this entire issue is collaboration between client project leaders and specialists with the overall knowledge and skills in business, process requirements, business systems, internal controls, and audit requirements. Our consultants have the specialized skills required for our clients’ projects and can provide them in a timely fashion.
Interim Controller or CFO with experience at the Big 4 manager level and above
When openings occur in management level positions in an accounting and finance department, the time and cost required to fill that position with an appropriate person are almost unavoidable. Companies must at all costs avoid a situation where operations in the accounting and finance department are delayed or suspended. Our consultants perform the daily tasks at the management level on behalf of our clients. Many of these consultants have experience working in the accounting departments of foreign firms and include US or Japanese CPAs who have audit experience in the major accounting firms or the Big Four. There is no need to outsource an accounting and finance department because our consultants form an integrated team with client employees to continue business, respond to new products and operations, and perform all types of reporting.
Assisting in all phases of US or J SOX compliance
We support compliance with all phases of the Sarbanes–Oxley Act of 2002 (US SOX/Sarbox). While designing and implementing a series of internal controls, clients can review business processes, revise operation manuals, and improve the performance of those business processes.
Our consultants have tremendous experience in all phases: planning, scoping, documentation, walk-through, testing, management assessments, and remediation of deficiencies. We respond flexibly to clients’ project structures, corporate guidelines, and schedules.
In addition, we support all phases of internal controls reporting required by Japan’s Financial Instruments and Exchange Act, commonly known as J SOX. We consult with our clients from the planning phase onward, with a focus on differences from the US SOX.
Being part of the Internal Audit team
In recent years, internal audit departments have become increasingly important. We can perform annual or interim recurring work which clients may want to delegate. Our consultants leverage their experience in external audits to help establish internal audit policies, planning, interviews, testing, follow-ups, and reporting. They can act independently or as members of our clients’ internal audit teams.
Following up on matters raised by the auditor after we left
In the event of a financial audit when our consultants are providing accounting support, we can help as required, even after our work has been handed over to client employees. In addition, we can increase the number of consultants to reduce clients’ workload while financial audits continue, as part of our accounting support service.
Realignment of information systems with Business Process
Accounting systems, whether an off-the-shelf software package or large ERP solution, must ensure transparent and reliable journal processing, from data entry interfaces with upstream systems to output of trial balances. However, a history of adding and modifying the system functionality can often become an impediment or risk to further system updates. This tendency is nowhere more apparent than in the processes where reports are created by manual spreadsheet applications like Excel. Our consultants begin by analyzing business requirements of the accounting system, and propose improvements to system efficiency, transparency, and reliability, using their broad skills in solving the aforementioned complex system issues.
Managing project teams of consultants and employees onsite
Our consultants execute projects onsite at client offices for the duration of a project. A project team is often comprised of both our consultants and client employees. Client employees perform their usual work while managing the project and overseeing project tasks, though designated consultants can serve dual roles or be solely responsible for the project management as a PMO.
Conducting knowledge transfer efficiently after the project
Once a project is completed, deliverables are normally transferred from our consultants to clients through knowledge transfer. However, we can also repeat training sessions as required if the client assigns different responsible employees. In addition, we can provide workshop and training with no direct relationship to a particular project.