Putting intercompany accounting back in the spotlight: Controllership Perspectives: Deloitte poll results
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In the year ahead, 40.6% of finance and accounting professionals say their organizations will increase the time and effort put into intercompany accounting (ICA) management, according to a new Deloitte poll.
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Putting intercompany accounting back in the spotlight: Controllership Perspectives: Deloitte poll results
- 1. Putting intercompany accounting back in the spotlight: Controllership Perspectives Deloitte poll results November 2022
- 2. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 2 Methodology 3,900+ Finance and accounting professionals were polled online during a Deloitte webcast titled “Putting intercompany accounting back in the spotlight: Controllership Perspectives” on August 25, 2022. Answer rates differed by question. In some instances, immaterial amounts (e.g., +/- 0.1%) have been added to or removed from the “Don’t know/not applicable” answer responses to bring results to 100% total for each question.
- 3. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 3 Votes received 4,021 Does your organization have an intercompany accounting program? Don’t know / not applicable = 17.6% Yes, our program is organization-wide Yes, but our program is not yet organization-wide No 49.2% 14.5% 18.7% 63.7% have some form of intercompany accounting program in place
- 4. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 4 Votes received 3,939 Which poses the greatest challenge to your organization’s intercompany accounting during the next 12 months? Don’t know / not applicable = 23.3% Technology—Disparate systems decentralize operations and data Data—Decentralized, incomplete or unstructured accounting data M&A activity—Post-merger or post-acquisition financial integration efforts Geography—High number of global jurisdictions across which the organization operates and manages risk (e.g., intercompany settlement, transfer pricing compliance, foreign exchange/FX exposure, etc.) Regulatory compliance—Meeting documentation, audit, tax and other requirements 24.4% 22.5% 10.8% 10.1% 8.9%
- 5. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 5 Votes received 4,280 Do you expect the time and effort your organization puts into intercompany accounting management will change in the next 12 months? Don’t know / not applicable = 21.3% 40.6% 34.1% 4.0% Yes, increase No change Yes, decrease
- 6. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 6 Votes received 4,089 Does your organization leverage emerging technology (e.g., analytics, automation) for intercompany accounting management? Don’t know / not applicable = 26.4% Yes, we do across our entire organization No, but we plan to begin doing so within the next 12 months No, nor do we have plans to do so Yes, we do in some areas, but not organization-wide 13.8% 26.0% 13.6% 20.2% 33.8% do not leverage emerging technology 39.8% leverage emerging technology
- 7. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 7 Votes received 4,407 Which best describes your organization’s global operational footprint? Don’t know / not applicable = 18.6% 34.3% 14.6% 32.5% Domestic only Multinational—up to 5 jurisdictions in footprint Global—more than 5 jurisdictions in footprint
- 8. Putting intercompany accounting back in the spotlight: Controllership Perspectives Copyright © 2022 Deloitte Development LLC. All rights reserved. 8 Media Contacts Christine Oh Public Relations Deloitte Services LP chrisoh@deloitte.com Taylor Graham Public Relations Deloitte Services tagraham@deloitte.com
- 9. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms. Copyright © 2022 Deloitte Development LLC. All rights reserved. The statements in this report reflect the aggregation of poll responses and are not intended to reflect facts or opinions of any entities. All data, charts and statistics referenced and presented, as well as the representations made and opinions expressed, unless specifically described otherwise, pertain only to the participants and their responses to the Deloitte poll. The information obtained during the poll was taken “as is” and was not validated or confirmed by Deloitte. This presentation contains general information only and Deloitte is not, by means of this presentation, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this presentation.