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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Author(s)
CHEN Min
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DOI:10.17265/1548-6583/2010.08.006
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ABSTRACT
Financial shared services (FSS) play an important role in multinational corporations for the effective cost management. FSS also can reduce errors and fraud so as to achieve perfect internal controls by standardized and procedural business processes which are important parts of internal controls. This paper emphasizes on two popular procedures and methods in multinational corporations. One is balance sheet reconciliation. It can illustrate the situation of accounts on an accrual basis which are the focus of internal audit and external audit. The other is Interco-Sop (Intercompany-standard operating procedure) which are important for to ensure the accuracy and effectiveness of accounting system and internal controls.
KEYWORDS
financial shared services; balance sheet reconciliation; Interco-Sop
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