Financial and Regulatory Reporting

The regulatory environment is fast-paced and ever-changing. With so many financial and regulatory reporting updates issued each year, it can be difficult to stay on top of it all.

But understanding how these changes may affect your business is critical. In the face of this regulatory environment, trying to ensure that you identify, manage and control existing and future regulatory risks have become a full-time strategic business activity.  Its importance continues to move up the agenda for CFOs, CEOs and Boards with the strengthening supervision of regulators worldwide.  While compliance can be costly, strategic approaches to deal with these regulations can bring benefits in terms of quality and insight to management.  In fact, most advanced companies are already leveraging this changing regulatory landscape as a platform to enhance efficiency and improve quality of management reports.

Through PwC's global network of firms, our team can assist you in dealing with various aspects of regulatory reporting, from responding to new regulation to finance and risk transformation. Our experts not only know the rules, but have also successfully implemented sustainable solutions against them to achieve both compliance as well as improved reporting quality and efficiency.

How can PwC help?

New regulations:

• PwC can help with rules interpretation, impact assessment across business, financial, capital charges, accounting, etc. as well as implementation of sustainable compliance programmes leveraging our industry leading and practical implementation approaches.  Our team can support you with both local and global regulations across front to back offices such as transaction reporting requirements, margin reforms, IFRS 9, and various BASEL standards, etc.

Compliance governance and control:

• PwC can help to design, implement, or review your governance and control framework over regulatory reporting to help improve your regulatory reporting function.  Our tried and proven framework and experienced team can provide support over all three lines of defence as well as customised reporting data and process control reviews.

Data and system:

• Data quality and completeness is integral to all regulatory reporting.  We can support change and implementation work over data taxonomy, governance, and ownership, etc. for effective data management as well as integration of data across functions (e.g. BCBS 239 programmes or other Finance / Risk integration initiatives)
• PwC can support implementation of various regulatory reporting systems, ranging from assessment of third party vendor solutions, in-house system, business requirements gathering, configuration support, user acceptance testing, rollout, and change management across both single business units as well as regional rollouts.

Organisation and Process:

• We can help to review and design optimal regulatory reporting structure and processes with an aim to improve control and efficiency.  Our experience includes design and implementation of shared service centres or centres of excellence for regulatory reporting, process improvement initiatives, and finance function realignment among closing, regulatory, and management reporting functions to achieve efficiency.

Innovative technology solutions:

• We are experienced in helping organisations leverage innovative technology such as various RegTech tools, robotics, etc. to enhance both accuracy and efficiency of regulatory reporting process.