Section 1 : Viable

Staffing functions are available and sufficient to cover the workload required to comply with all local statutory filing obligations in normal working hours.
Continuing Professional Education (CPE) is measured to ensure proficiency with local statutory regulations and local GAAP sufficient for staff to discharge the preparation of local statutory financial statements and their local filing obligations.
Dashboarding is available indicating process stage completion at each stage of individual statutory financial statement completion in real time for all legal entities.
Staff demonstrate understanding of the accounting systems and their functionality, including applicability of new and improved IT developments and solutions.
The CGMA Competency Framework for Learning and Development has been applied for the team which sets out required standards of competency, measures knowledge gaps for remediation, develops a structured plan to address remediation and unlocks workforce potential and motivation.

Section 2 : Documented

There is a defined repeatable documented process in place. Desktop processes (DTP) are fully documented for all process stages for all legal entities and are reviewed and agreed annually by statutory controllers and external auditors.
Defined roles and responsibilities are documented between statutory controllership teams for all legal entities in local jurisdictions and these are aligned to individual performance goals of the statutory controllership team members.
Regulatory management procedures are standardized across all local countries, repeatable, and documented covering the gathering of changes in local GAAP regulations in each country or reporting jurisdiction as they become due.
A structured process exists to centrally catalog regulatory, accounting and other local compliance requirements by jurisdiction and legal entity in a centralized and efficient manner. The process is documented with a defined change control process and is reviewed periodically for changes in local GAAP and country regulatory requirements as they become due.
The CGMA Competency Framework has been implemented for all staff clearly communicating the required standards of competency, managing employees’ performance and measuring their contribution, assessing gaps in employees’ knowledge and skills and improving workforce and succession-planning efforts and more.

Section 3 : Simplified

The finance department has an agreed finance technology roadmap which supports both the department finance vision and delivers the operational requirements to begin automating manual tasks and centralizing regulatory updates and statutory filings.
The finance organization has an agreed finance technology roadmap which supports both the overall strategic finance vision and delivers the operational requirements to begin automating manual tasks and centralizing regulatory updates and statutory filings across finance teams and functions. The finance roadmap delivers centralization aligned to other international finance functions and reduces the risk of compliance error.
The finance organization technology roadmap adopts a cloud-first strategy where enterprise finance applications are built in the cloud by default with an agreed architectural approach highlighting the role of private cloud, public cloud, distributed cloud and edge computing supporting existing on-premises applications in an integrated, best-in-class architectural model.
Technology investments improve delivery of consistent disclosures across multiple jurisdictions, leveraging parent and subsidiary GAAP and statutory disclosures where relevant.
Using CGMA Competency Framework “Transforming the Finance Function,” a Digital Champion has been appointed who achieves the competencies and skill sets needed to drive digital transformation.

Section 4 : Enhanced

Controlled access to data across all departments in all legal entities drives collaboration between finance shared services and local controllership teams and provides real time, data-driven analysis linked to compliance integrity rules bases.
Access to regulatory and accounting standards changes and updates are centrally cataloged, maintained in real time and available to both finance shared services staff and local teams as they become published.
Real-time data connections between regional finance shared service centers, and local controllership leverages parent company filings in real time between parent and subsidiary statutory financial statements.
Software integrations drive connectivity, automation, efficiency, disclosure management, and real-time visibility and controls between internal and external partners.
The CGMA Competency Framework has been implemented to deliver a cloud-first organisation-wide approach which supports best practices on the adaption of new technologies and solutions. This approach leads and directs the development and delivery of new IT solutions to improve the efficiency of the system of financial control.

Section 5 : Continuous

Structured and unstructured compliance are connected to analysis and reporting tools, enabling data to flow automatically and continuously to final statutory accounts.
Defined, streamlined enterprise-wide statutory financial statement preparation tools and processes exist across the enterprise, supported by standardized legal entity master data, centralized governance and processes and a centralized controllership team focused on delivering strategic regulatory compliance across the enterprise in real time.
An ecosystem of integrated systems and software fosters natural, continuous collaboration, and compliance while connecting talent, data, analysis, and regulations across the enterprise.
We connect data, compliance, regulations, and updates to accounting standards across the enterprise, enabling our finance function to serve as a valuable strategic compliance partner to the organization.
The finance team delivers digital channels and customer fulfilment fit for purpose in a digital-first business ecosystem. Decision-relevant data is readily accessible to all decision-makers. Digital assets are identified, optimized, and protected.

Your maturity stage based on score

Your organization's rating is Viable. Learn more in the report.

Your organization's rating is Documented. Learn more in the report.

Your organization's rating is Simplified. Learn more in the report.

Your organization's rating is Enhanced. Learn more in the report.

Your organization's rating is Continuous. Learn more in the report.

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