Insource its statutory consolidation
Context
Until recently, Primonial Group had its consolidation performed by two external accounting firms, one for a consolidation in line with French accounting standards and the other one specializing in IFRS. Following the Group capital restructuring in March 2017, a decision was made to insource this expertise. Primonial’s dual objective was firstly, to stop depending on accounting firms and secondly, to rely on a trustworthy audit trail.
Benefits
- Insourcing of expertise
- Greater autonomy in the consolidation process
- Simplified publication of consolidated financial statements
- Reliable audit trail
29 Entities
including 9 overseas
The real strength of Conso & Report lies in the audit trail available. When we were deciding on which solution to use for our consolidation, it was especially important for us to have a reliable detailed audit trail. Conso & Report is easy to use and practical. Once historical data had been recovered, it was very easy to create analyses and reports, and to provide data to statutory auditors.