iscoverA big four accounting firm has teamed up with a global cloud platform in order to satisfy looming regulatory requirements.
Big 4 announces partnership to meet new regulations
19 January 2017
•
4 minute read
var tags = '';
Oracle said the partnership was motivated by the challenge presented by the IASB’s new IFRS 9 accounting standard that all banks must comply with as of 2018.
“IFRS 9 implementation poses a significant challenge for financial institutions and failure to manage it well can have a material impact on their bottom line,” Oracle’s financial services senior vice president Sonny Singh said.
“By partnering with PwC, we can provide our clients a comprehensive technological solution, as well as deep strategic insight, that’s unmatched in the marketplace.”
As part of the deal, Oracle’s software and analytics will be implemented and adjusted to suit PwC clients’ requirements, while PwC will provide consulting advice on the implementation of Oracle’s analytical applications.
“Financial institutions are already relying on PwC and Oracle to makes sense of IRFS 9 compliance,” PwC senior partner and IFRS9 global leader Colin Brereton said.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
“Now, our industry-specific business-process insight, coupled with Oracle’s technology, provides a best-in-class IFRS 9 solution.”
You need to be a member to post comments. Become a member for free today!
