Accounting and consolidating entry
It will divert you from managing this risk successfully.
The unnerving truth is that your finance department is probably managed less rigorously than your company’s office supplies.
Anyone with a credit card has experienced verification calls from the bank whenever it notices spending pattern changes.
Many businesses exposed to commodities price risk use automated program trades to execute hedging strategies when a rate change occurs.
That lack of awareness and recognition also means the losses are unnoticed.And finance departments must comply with Sarbanes-Oxley regulations that monitor a wide range of risk events from boardroom oversight failures to financial reporting inaccuracies.This intense surveillance, however, consistently overlooks a costly category of financial risk: continuous risk.In your finance department, however, uncertainty is a serious, hidden risk to the entire enterprise.Yet, as in Hollywood, you should ignore the conventional wisdom.
Continuous risks, on the other hand, aren’t distinct events.