• Nonfinancial performance may influence investors

    Investors require a sharper focus on corporate governance, environmental and social factors according to our 2017 investor survey.

  • Do you trust humans or machines to fight fraud?

    Our latest EMEIA Fraud Survey explores the geopolitical and economic environment’s impact on business conduct and technology’s role in detecting fraud and corruption.

  • Global Fraud Survey 2016

    The 14th Global Fraud Survey reveals overwhelming support for increased transparency, as regulators cooperate to hold individual executives to account.

  • Reporting: Issue 11

    The CFO’s role is changing as they become increasingly involved in the strategic growth of their companies. Read more in the latest issue of Reporting.

  • Are you prepared for corporate reporting’s perfect storm?

    It’s time to address and understand the corporate reporting challenges CFOs are facing globally. Read the latest FAAS report to know how.

  • Connected reporting

    As the pace of the regulatory environment increases, companies face a challenging reporting environment. We explore these challenges and methods to overcome them.

  • Reporting: Issue 8

    In this issue, we explore ways of measuring and evaluating the value of a sponsorship deal. We also highlight some of the key reporting and governance issues facing companies today.

  • Promote board diversity to accelerate performance

    Boards need to understand the value in diversity and act now. We explore the topic and provide an action list for board chairs.

  • Audit Committee Bulletin: June 2014

    We address the risk and governance topics that are top of minds in audit committee meetings and network discussions across Europe and beyond.

Assurance Services

Meeting today’s auditing, financial and reporting challenges

The global business landscape is being reshaped by transformational events and trends. And that means the financial and reporting environment is also being reshaped, resulting in significant challenges for management, boards, audit committees and auditors.

We can help you understand and address today's most critical financial and reporting issues.


  • Accounting change

    Sweeping changes to accounting standards are coming — are you ready?

    You operate in an increasingly uncertain business environment, complicated by the unprecedented range of potential changes to accounting standards. In this environment, management and audit committees are asking what they should be doing today to ready themselves for such significant change.

    The IASB and FASB have undertaken a number of ambitious standard-setting projects to improve both IFRS and US generally accepted accounting principles as well as to work to achieve convergence. These new standards, when issued, are expected to significantly alter accounting treatments and disclosures in several critical areas, including financial instruments, leases and revenue recognition. The number of standards being revised is significant, but of greater importance is how the accounting for common transactions will change as a result of these standards.

  • Fraud prevention and investigation

    Fraud and corruption - the easy option for growth?

    Businesses are facing complex market challenges and significant pressure to grow, but our report shows that good compliance and growth can go hand in hand.

    EY’s Europe, Middle East, India and Africa (EMEIA) Fraud Survey, Fraud and corruption – the easy option for growth?, has found that greater pressure on businesses to grow revenues together with market volatility is creating increased risk in expansion opportunities. Challenges, including geopolitical instability, commodity and currency price volatility, as well as economic sanctions, are pushing companies and their executives toward high-risk behavior.

    There exists a real need for companies and those charged with their governance and oversight, to revisit their focus on the risks of fraud, bribery and corruption. Given the current environment, more robust anti-fraud and anti-corruption efforts are an imperative.

     

  • Corporate governance

    Increasing transparency, improving control

    Economic conditions generally improved during the past year, but uncertainties still remain. The world is demanding greater corporate transparency. Investors want access to more accurate and relevant information about companies, transactions, markets and risks. Regulators are moving to exert more control.

    There’s much debate about how corporate governance should evolve. It’s a debate that’s being held against a background of legislative and regulatory change, the implementation of International Financial Reporting Standards and increased public scrutiny. We believe that global coordination is a necessity, not a luxury, in today’s interconnected and interdependent markets. Regulators and standard-setters need to continue to work together, to promote global consistency.

  • Sustainability reporting

    A growing trend toward disclosure of nonfinancial information

    In the face of mounting pressure to be transparent, an increasing number of organizations are choosing to report on sustainability and corporate social responsibility (CSR). Sustainability reports help internal and external stakeholders understand how well the organization adheres to the "triple bottom line" of environmental, social and economic performance.

    Seven things you should know about sustainability reporting

    1. 3,000+ companies issue sustainability reports.
    2. Stakeholders increasingly expect companies to provide sustainability reports.
    3. Sustainability reporting can bring operational improvements, strengthen compliance, and enhance corporate reputation.
    4. Reports should contain key performance indicators (KPIs) relevant to the reporter's industry such as materiality, stakeholder inclusiveness, sustainability context, and completeness.
    5. Sustainability reports are more closely monitored than ever before.
    6. Sustainability reporting presents many challenges, including:
      • Data consistency
      • Striking a balance between positive and negative information
      • Continually improving performance
      • Keeping reports readable and concise
    7. Sustainability reports can be a valuable communications tool. They can help with cutting costs, efficiency, achieving business imperatives and accountability.

    Visit our global Climate Change and Sustainability Services site.



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EY - Reporting: Issue 8

Reporting: Issue 8

In this issue, we explore ways of measuring and evaluating the value of a sponsorship deal. We also highlight some of the key reporting and governance issues facing companies today.

EY - Reinforcing the commitment to ethical growth

Slovakia ranked among countries with highest tolerance of unethical business practices

  • Sixty-two percent of Slovak managers would use bribery/corrupt practices in order to win/retain business.
  • The Slovak Republic is among the top five countries globally, with high tolerance of excess expenses for representation and the provision of personal gifts or services in order to win orders.
  • Fifty-six percent of Slovak respondents consider corruption widespread in their country (the global average is only 38%).
  • Only 18% of surveyed Slovak companies have whistleblowing hotlines; it is 96% in the USA.
  • Emerging threats are not being taken seriously enough, and nearly half of respondents consider cybercrime a low risk.
  • One in five CEOs have been asked to pay a bribe, and one in ten regard distorting the information in financial statements as justified, which seriously undermines the integrity of the statements.
     

 Download the 13th GLOBAL FRAUD SURVEY (pdf, 904kb)