The case for a close czar

The case for a close czar author Webmaster1 On: 03/25/2013 Views: 27



When asked what aspect of the close process they were most interested in improving, 46 percent of respondents to a recent Dbriefs poll said it was a combination of increasing integrity/accuracy of account balances, providing visibility into the close activities and responsibilities, having subledger systems agree to what is reported, and reducing effort and eliminating bottlenecks.

Having a close czar could be one of the answers to addressing these issues, as well as improving an inefficient process. Such a designee also helps promote the quality and integrity of financial and managerial reports. Moreover, the close czar can proactively identify the issues and help management make timely decisions, set expectations, and help meet the stringent financial reporting deadlines.

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