As accounting manager and regional finance controller, we intervened for a growing company. It concerned an ever-expanding work site, at that time comprising 25 group entities with a turnover of 500 million euros, including five chemical plants. We arranged the necessary documentation as soon as possible, including annual reporting, audit requirements and tax audits.
Then we sent in a managing team of seven accountants. We implemented the concept of local GAAP reporting (Generally Accepted Accounting Principles) in SAP for several parts of the group. Additionally, we developed automated Excel templates for optimal balance sheet control.
Our consultant, who took on the role of EMEA SOX coordinator, was fully responsible for the critical controls of two acquired production sites in Germany and Estonia and significantly contributed to the cause. The results of our intervention greatly improved the internal control system in the EMEA region.