The CFO's Agenda for 2013

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2
These variables have
become certainties for
CFOs this year.

Agenda
Item
1
#
3

Address and Mitigate
Healthcare Costs
& Concerns
Agenda item #1
4

5
%of CFOs cite healthcare
costs as a key company
ﬁnancial concern for the
third consecutive year.
Source: Bank of America. 2013 CFO Outlook – Annual Survey of U.S. Senior Financial Executives. United States: 2013.
https://corp.bankofamerica.com/documents/16303/307298/CFO_Outlook_2013_Report.pdf
Agenda item #1

CFOs are familiar with the
‘pay or play’ decision they
must make. It may seem
obvious but…
Agenda item #1
6

7
The costs of healthcare
insurance are much higher
than the penalty ﬁgure.
Agenda item #1

Potentially reevaluating employees
total compensation packages
Penalty fee is subject to a
nondeductible excise tax by the IRS
Business is less marketable to attractive talent
Okay. But dropping
healthcare coverage means:
Agenda item #1
8

or
CFOs must decide...
Pay
play?
9
Agenda item #1

Now what?
? ?
? ?
?
?
? ?
??
??
?
? ?
10

11
Determine company’s healthcare reform strategy
Align with HR & medical executives
Prepare for the January 1st, 2014 ‘pay or play’
implementation date
Evaluate ‘pay or ‘play’ costs and beneﬁts
Action Items:
Agenda item #1

12
Agenda
Item
2
#

Better Industry Regulation
& Legislation Monitoring
13
Agenda item #2

14
More than 50%of CFOs
say that industry regulation
& legislation are in their top
three concerns.
#1
#2
#3
Source: The Wall Street Journal. Health Care Cost Management: Ways CFOs Can Get Ahead of the Curve. New York: 2012.
http://deloitte.wsj.com/cfo/2012/11/16/health-care-cost-management-ways-cfos-can-get-ahead-of-the-curve/
Agenda item #2

15
With the ever-evolving nature
of regulations and legislation,
it’s no surprise that CFOs cite
government policies as a top
priority and concern.
Agenda item #2

Sarbanes-Oxley Act
Dodd-Frank Act
JOBS Act
There’s:
16
Agenda item #2

And then there’s:
XBRL IFRSIFRS
17
Agenda item #2

18
Scouring the SEC, IASB and
FASB websites regularly requires
unnecessary resources, particularly
with the inception of automation.
Agenda item #2

So what’s next?
? ?
? ?
?
?
? ?
??
??
?
? ?
19
Agenda item #2

20
Automate manual procedures for staying on
top of regulation and legislation changes
Determine which technology / labor resources
are needed to ensure proper legislation monitoring
Evaluate which regulations require
substantial monitoring
Action Items:
Agenda item #2

21
Agenda
Item
3
#

Signiﬁcant Technology Investments
22
Agenda item #3

23
CFOs say their companies
will increase spending
in technology by nearly
8% this year.
$
$
8%
Agenda item #3
Source: PWC. CFO Optimism Blooms. New York: 2013. http://www.pwc.com/us/en/cfodirect/issues/strategyoperations/other-sources/
cfo-cfo-optimism-blooms.jhtml?display=/us/en/cfodirect/issues/strategy-operations

24
Manual processes will not suffice when
it comes to complying with new legislation,
keeping pace and ultimately differentiating
the business from competitors.
Agenda item #3

25
Automate data mining and analysis
Continue R&D initiatives
CFOs will invest in technology to:

To do this, CFOs must
take note of…
26
Agenda item #3

27
Research and compare different SaaS solutions
Purchase and implement solutions
Determine where workflow would
benefit from automation
Determine budget figure for
technology spend
Action Items:
Agenda item #3

28
Agenda
Item
4#

Hiring in Finance
29
Agenda item #4

30
of CFOs anticipate
more hiring in 2013.
Agenda item #4
Source: Bank of America. 2013 CFO Outlook – Annual Survey of U.S. Senior Financial Executives. United States: 2013.
https://corp.bankofamerica.com/documents/16303/307298/CFO_Outlook_2013_Report.pdf

31
Why are CFOs hiring in ﬁnance?
Agenda item #4

32
Because they need resources for…
Agenda item #4

33
Reporting adjustments for ongoing compliance...
Agenda item #4

34
...and leveraging implemented
software for better ﬁnancial reporting.
Agenda item #4

How will CFOs achieve this?
35
Agenda item #4

36
Hire: Compliance Manager, Government &
Regulatory Affairs Officer, Chief Risk Officer,
Asset Management Professional,
Wealth Management Professional,
Emerging Payments Officer and
Payments Executive
Ensure budget’s ﬂexibility for new hires
Action Items:
Agenda item #4

37
Resources
Print this:
Use a SEC ﬁlings Calendar to keep on top of deadlines
Read this:
Understand the truths about XBRL tagging
Know this:
A Guide to Common Filing Errors and How to Avoid Them

38
Would you like to learn more about how to automate your regulation
monitoring process to keep your disclosures on the leading edge of
ﬁnancial reporting?
Contact us.
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The CFO's Agenda for 2013

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