THE CHALLENGE

As the organisation expanded internationally, differences in accounting practices started to affect the quality and efficiency of group reporting. To prepare consolidated financial statements, the Group Finance department had to manually adjust local figures so they aligned with the accounting policies of the Dutch parent company. A time-consuming and error-prone process that was repeated every reporting cycle.  

Meanwhile, the absence of clear and shared guidelines created uncertainty within local finance teams.

In short, the organisation faced several challenges: 

• Limited comparability between financial results of different entities 

• Frequent manual corrections during the reporting process 

• High workload for Group Finance during closing cycles 

• Different interpretations of accounting policies across entities 

• Increased operational risk when key finance staff left local teams

On top of that, the organisation kept growing. Without a consistent accounting framework, these issues would only increase.  

   HOW WE HELPED

Fidugius supported the organisation in developing and implementing a group-wide accounting and reporting framework. 

We started by analysing the existing accounting policies and reporting processes across the group. Based on this analysis, we translated the group’s accounting principles into practical guidance that local teams could apply consistently in their daily work. 

What we did: 

• Define clear group-wide accounting policies 

• Standardise booking procedures and the chart of accounts 

• Structure reporting processes and closing instructions 

• Align accounting policies with the operational reality of local entities 

 To make things more concrete and practical, we provided lots of examples and detailed information on booking procedures for common transactions. We also set out clear valuation principles and provided an explanation of the general ledger chart of accounts. 

In collaboration with the client’s IT department, we integrated the complete framework into the Fidugius Accounting & Reporting Manual within the SharePoint environment of the client. This central platform allows users to quickly find relevant guidance and understand how accounting policies relate to specific transactions and reporting outcomes. 

Finally, we trained employees across the organisation so they could manage and maintain the manual themselves. 

   IMPACT & RESULTS

The organisation now operates with one single accounting framework across all entities. 

This resulted in: 

• Significantly fewer manual corrections during reporting cycles 

• Improved comparability of financial results between entities 

• More efficient closing and review processes 

• Greater ownership of financial reporting by local teams 

• Higher confidence in the reliability of group reporting 

The finance function now provides a scalable foundation that supports the organisation’s continued international growth.