Expanding the Accounting Ecosystem

expanding-the-accounting-ecosystem

In today's corporate environment, technology plays a central role in gathering, validating, analyzing, and sharing the non-financial information inside and outside organizations with data-sharing standards like XBRL. Current sources of non-financial information for investors and other stakeholders typically include stand-alone corporate social responsibility/sustainability reports, annual reports and value-related indices.

Lacking a global uniform standard to guide what is reported and how creates a fractured approach to deal with the many challenges surrounding non-financial disclosure. Skepticism increases as company's legacy software struggles to handle the challenge, but innovative companies like Workiva can minimize errors while streamlining the processes.

To read more about how Wdesk streamlines non-financial information gathering, validating, analyzing, and sharing, click here

For the latest information and news, visit The Workiva News Room.

Source: 
Strategic Finance Magazine