Ensuring reliable financial reporting

Sector of activity: Clothing retail
Size (sales in €m): 800

Context

  • Although sales were relatively stable, the group was facing a decline in its EBITDA margin
  • This occurred in a context of high turnover of financial staff and insufficient formalization of management control procedures
  • The result was a lack of control over figures and a loss of past reference systems which undermined the group’s capacity to analyze the business and its re-forecasting

These difficulties were compounded by the existence of a large number of reporting statements not tying in with the income statement and management control teams insufficiently focused on highlighting the figures produced from a business perspective

Our mission

  • Assistance with definition of the group’s financial reporting (P&L, cash flow)
  • Assistance with definition of the closure procedures and controls to set up on the key areas of the activity
  • Support for the implementation of the new reporting and new procedures.

Results

  • Definition of new reporting format, allowing the group to obtain summarized and consistent information

Key success factors

  • Familiarity with the sector
  • Ability to combine “financial and operational expertise”
  • Ability to lead the client’s teams around an upgrade project and get them to buy in