1 Automate the Period End Process Basico, 22 nd of April 2015 Period End Challenges, PBC Lists, Internal Controls & JSOX, Astellas Pharma Nordic.

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Presentation transcript:

1 Automate the Period End Process Basico, 22 nd of April 2015 Period End Challenges, PBC Lists, Internal Controls & JSOX, Astellas Pharma Nordic

2 Astellas Pharma Nordic (Denmark, Finland, Iceland, Norway, Sweden & Baltics) No. of employees150 OfficesCopenhagen (HQ), Oslo, Espoo, Reykjavik Turnover 109 million EUR (14/15) Global No. of employees17,000 Head officeTokyo, Japan Turnover billion EUR (3Q 14/15) Balancer, Adra Match ContactFall 2012 Denmark, Iceland & SwedenNov 2013 Finland & NorwayDec 2013 PBCYear End 2013/14 Internal Controls & JSOXJune 2014

3 A broad portfolio of products UROLOGY TRANSPLANTATION ANTI-INFECTIVES DERMATOLOGY PAIN MANAGEMENT ONCOLOGY

4 "Remember, the thoughts that you think and the statements you make regarding yourself determine your mental attitude. If you have a worthwhile objective, find the one reason why you can achieve it rather than hundreds of reasons why you can't." "Do not wait; the time will never be 'just right'. Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.“ Napoleon Hill , Author

5 Changing Environment & Requirements JSOX Internal & External Audit (PBC list) IFRS GRC Segregation of Duties Code of Ethics FTE freeze Manual Processes Automated Processes

6 Why do people commit fraud? Greed Ethics Rationalisation Opportunity Control weakness Pressure Expectations Tone “10% of people will never steal, 10% will always steal, 80% of the people steal given the right motivation and opportunity” Source: ACFE

7 Managing Fraud Risk - Framework Fraud Risk Management Soft Controls Tone from the top Code of Ethics Conflicts of Interest policy Training & Awareness Whistle Blowing Hotline HR Policies & Procedures Hard Controls Segregation of Duties System & Business Process controls Authorisation Rules Analytical Review Internal Audit

8 Characteristics of the typical fraudster Male 36 to 45 years old Commits fraud against his own employer Works in the finance function or in a finance-related role Holds a senior management position Employed by the company for more than 10 years Works in collusion with another perpetrator Source: KPMG 8

9 Own Development vs. Standard Tool/BALANCER Standard Tool Pros We get more/other functionalities than we initially scoped Technology – Userbility Less time involved in design, development & maintenance/upgrades Constant enhancements Do not have to ”invent the wheel” Cons Does Best Practise fits you? Cannot have all functionalities that we initially scoped Wishes never realized Less overview of the resolving status of issues and plans Less overview of future development/enhancement plans, implementation and releases

10 BALANCER – Achievements Transparency Compliance & Integrity Code of Ethics / Code of Conducts / Ethical standards Conflict of Interest Fraud Risk Management System & Business Process Controls Segregation of Duties Authorization Rules Analytical Review Internal & External Audit Transparency

11 "You may never know what results come from your action. But if you do nothing, there will be no result.“ Mohandas Karamchand Gandhi,

12 Thank you.