As companies enter the recovery stage from COVID-19, many are re-evaluating ownership of non-core assets and operations, and potentially migrating to an ecosystem of strategic partners. These partners, typically “better owners or managers” of such assets, can help transition fixed costs to a variable cost structure, enhance company agility, shift resources to focus on core or critical capabilities and enhance valuation. During this spotlight on “asset light strategy”, we will discuss how businesses can reshape their future using an asset light approach.

This session discusses digital transformation in Operational Risk and Internal Controls, with references to financial services but an approach applicable to all industries. The new approach will lay out how to view and manage risks and use those opportunities for future growth. Often times, Operational Risk and Internal Control assessments are tactical and focus on processes; they do not access holistic or layered risks. Furthermore, they are reactive findings based on limited sample sizes, not proactive monitoring for full population. The reviews focus on risk mitigation and not growth potential. Data is frequently in silos and difficult to extract and analyze. Furthermore, there are increasing challenges with increased regulations, rising volumes, credit defaults, limited resources, and complex IT environment.

This session details how to digitize Operational Risk and Internal Control processes and reviews for that go beyond sampling to full population, reduces subjectivity and focuses on exceptions and red flags. It aims to achieve continuous monitoring on real-time data rather than a review on aged data. The process provides for standard views across multiple markets, with lesser disruption to businesses and better cross-functional/ cross-geographical learnings. In the end, it aims to reduce key operational risks in an efficient and effective way and identify future growth opportunities.

In this session we will discuss the hype fueling automation robots and what impact it is having on finance leaders and their teams.

Business value used to be created by delivering a product or service at the right place, time, quality and price. Similarly, companies used to measure success by following its operational and financial performance metrics. Today, in the experience economy, value is no longer limited to productivity and efficiency, but notably driven by behaviors and the emotions of the people who interacts daily with our business. High performing businesses are leveraging from experience management, actively listening to customers in real-time, armed with advanced analytics, making their employees happier and boosting customer loyalty. Leading companies are harvesting revenue gains of 5-10% while reducing costs by 15-25% within 2-3 years cycle. Are You ready to win in the experience economy?

During the session we will discuss the updates on the IRS operating status, including the delays that IRS is experiencing with processing taxpayers tax returns, issuing tax refunds, including those that were submitted as tentative refund claims, as well as responding to other taxpayer’s requests. We will briefly touch upon the taxpayer’s advocate report to Congress that identified 10 most serious problems that the taxpayers encountered in their dealings with the IRS. We will discuss how IRS budget impacts IRS enforcement activity and IRS enforcement initiatives for the fiscal 2021 tax year.

Even before the current crisis, digital transformation and new ways of working were having a significant influence on the critical skills and capabilities of the finance function. The coronavirus pandemic has accelerated that need. Barry Payne, Director – External Relations, Management Accounting and panel will share insights on the skills and competencies that will become more prominent in the post-COVID world and tips on developing a measurable roadmap to develop sustainable finance talent. This is an absolute imperative for CFO’s.

The role of both the public and private company CFO has never been more challenging. Living through COVID and navigating the ever-changing expectations of customers, shareholders, creditors, and the community at large has been quite difficult. Yet certain truisms were once again revealed during the last year as it relates to capital structure, relationships with critical constituents and being nimble in the face of changes. Larry will explore some of the lessons learned from the last 12 months and what we might expect of the 12-24 months ahead.

Environmental, Social and Governance (ESG) performance, reporting and assurance has gained center stage around the world as organizations seek to better understand the needs and concerns of a variety of stakeholders, improve their own performance and better communicate their ability to create long term sustainable value. CPA’s, the CFO organization, and Finance professionals can all play a valuable role in adding value as their organizations, start, evolve, and continuously improve their ESG related activities.

The workplace landscape has changed during COVID and will again in the post-COVID world. The data indicates that returning to the workplace we knew before COVID is highly unlikely and there is no-one-size-fits-all approach to what the workplace will look like. This session will discuss from a human resource management and legal perspective, issues, options, and potential pitfalls that employers must consider in the future workplace.