Freight forwarder - global subsidiaries
Situation faced:
The European group wanted to improve the Accounting & Finance function in Ireland, as there were significant shortcomings in accuracy, reporting & governance. The Department was badly led, untrained and its staff were generally insufficiently qualified, using antiquated accounting methods.
Outcome achieved:
Accounting & admin procedures and practices were overhauled extensively, and two, new computer systems were prepared, tested and implemented (one job costing and one accounting). Staff job descriptions were prepared and training was given in new procedures and practices to improve quality and reporting timetables (reduced from 4 weeks to 5 days). Finance operations were improved to produce £150k pa savings. also found and investigated an accounting discrepancy of over £1million. Subsequently asked to conduct a similar review in the Danish operations, with similar problems and eventual results.