As the Security and Exchange Commission (SEC) continues its drive toward increased transparency, CFOs face a challenge: how can they deliver accurate and transparent financial reports while minimizing the costs and risks of delivering these reports. CFOs need to mitigate several sources of financial reporting risk including risk of errors leading to restatements, risk of late filing, risk of insider leaks, and risk of SOX non-compliance. Until recently, the only way to mitigate that risk was to add personnel. But, adding people doesn't remove the inefficiencies and risks inherent with consolidating multiple spreadsheets, finding and correcting mistakes, managing compliance checklists, and coordinating the review and approvals process. CFOs need a better solution.
SEC Filings Using IBM Cognos FSR
IBM Cognos FSR automates the creation of the 10-K, 10-Q and other SEC filings. IBM Cognos FSR provides a collaborative environment where many contributors can participate in the creation of the external document, within a secure application, with a tight audit trail and with seamless connection to source data. With IBM Cognos FSR, you can produce external financial documents more efficiently, with more controls and in compliance with Sarbanes-Oxley.
