Keep data consistent from source to report!
New technologies for analysis, the ever growing availability of data and the increasing regulatory pressure require that organisations are in control of their data throughout their reporting flow, from source to report. This is especially true for the finance sector. Supervisory authorities providing practical frameworks and elaboration on regulations (e.g. BCBS #239, IFRS, IRB, Solvency and Anacredit) whilst at the same time shifting supervisory from report driven into data driven. They are looking at the lowest granularity level: your data.
Supervisory authorities require that data is correct and accurate throughout the entire organisation, used for the correct purpose and proven in control. This makes the need for consistent and reliable data increasingly important, exceeding the master data management initiatives that organisations have started. It has become clear that control over data quality should cover the entire flow of data: from source to report. This gives organizations the opportunity to achieve true data driven reporting and decision making, but also brings along several challenges that need to be overcome.
Curious to find out more? Read the Compact artikel Data Management through the value chain.
Please contact Marinka Voorhout, senior manager KPMG Advisory, tel. +31 (0)10 453 4156