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Monthly Dose for the
Monthly Close


For the Evolving Accounting Department

April 2015

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Why ART?

Companies put ART into place to transform their account recon-ciliation process. 

As a SaaS solution, ART provides them with a means of
automating account reconciliations, and thereby gaining visibility into and management of their entire close process.  They enjoy ART's powerful workflow management and reporting tools and grant auditors limited access to ART's built in central repository.
Take a quick tour here.


Knowing the top fraud detection methods is one angle of control.

See all on this
infographic.
 

SEC Misconduct


Think you are alone in needing to improve your close?
Does this sound familiar?

"I have a drawer full of reconciliations that need to be scanned."

"It's prone to errors because it is not automated."

"We want to standardize our reporting process."

Hear more . . .



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Getting in Control of Internal Control

AG Bio  Annette Grotz

My family bought a new car that is bigger, more powerful and as fuel efficient as our old one. Yet when winter socked us with two feet of snow earlier this year, we still got stuck trying to get up our driveway. The big, new, powerful Q7 was not the silver bullet for a safe arrival we had expected.

Why is it we always hear of how buying X can help us achieve Y, but we seldom hear of how buying X will help us achieve Y, but will not help us with Z?

COSO states in one particular report that internal control “is not a panacea.” While COSO defines internal control as a process affected by three levels of personnel, designed to provide reasonable assurance in achieving objectives in three categories, it also mentions two beliefs that are unwarranted.

Unwarranted belief number one: “internal control can ensure an entity’s success.”

This is an unwarranted belief as market conditions, changes in government regulations, and incompetent employees cannot be changed by internal control.

Read more for belief number two and a link to the report >>>

Given tomorrow is Tax Day in the US, here's a way to lighten things up with your favorite colleague.

Why are accountants always so calm, composed and methodical? Read more for the punchline >>>


 
Visibility enables measurement
which enables management. 

Newsletter 
When you can see what is going on with reconciliations, you are prepared to intervene where necessary. You eliminate surprises. ART's dashboards bring visibility to the account reconciliation and month-end close process, from day zero. See how >>>

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