FloQast

JANUARY 22, 2025

Some of the main ones include: Traditional Processes are Outdated Many accounting departments still rely on manual, paper-based processes and spreadsheets. To keep up with new reporting mandates, like ESG reporting , accounting departments need systems that can adapt quickly and reliably.

Accounts 52

Accounts AI Automation Audit 52

FloQast

MAY 7, 2024

The Year End Close: Why Does It Matter? The Year-End closing process is the regulatory requirement that companies verify the accuracy of their annual finances. While that may mean the process is particularly challenging for certain organisations and their accounting teams, there are plenty of ways to ease the pressure.

Reconciliation 52

Reconciliation Audit Automation Accounts 52

FloQast

DECEMBER 13, 2023

The SOX rules require external auditors to confirm management’s assertions regarding the presence and effectiveness of internal controls. That means audits today are heavily weighted on understanding financial processes and testing the controls in place to prevent errors from showing up in financial reports.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

FloQast

DECEMBER 18, 2024

Help your company take its first steps towards a streamlined, automated close with our guide. Month-End Close: An Overview What is the Month End Close? Step 2 – Close expense accounts to Income Summary: After expenses are closed to Income Summary, the balance in that account is net income for the period.

Close Processes 98

Close Processes Process Accounts Adjustments 98