"What would you suggest for improving financial reporting after a merger of businesses with different reporting standards/culture?"
This question was asked at a recent webinar, now available on-demand:
"World Class Management Reporting"
Please add your thoughts about it below. Thanks!
THIS IS A QUESTION WHERE I HOPE PEOPLE WHO HAVE HAD A RECENT EXPERIENCE IN THIS AREA MIGHT CONTRIBUTE TO THE DISCUSSION.
Uniting and coordinating report production are a critical part of the process of integrating business segments after a merger. I’d strongly encourage you to see this as an opportunity to improve the overall quality of reporting. The odds are that every participating entity is doing something worth incorporating – and incorporating at least a few things from everyone’s old approach to reporting may help cement relationships throughout the organization. It may also be an opportunity to change things in the way you report that you know weren’t working well, but hadn’t done anything about just because of inertia -- view the merger as a "triggering event."
Depends upon who your ultimate reader is and with a merger, has the audience changed? You may have to have local/statutory reporting which could be different from
