What information would you need to collect and use to manage the regulatory compliance function?

Consider the Stewardship and Reporting role of accountants shown in Table 2.1. What information would you need to collect and use to manage the regulatory compliance function? TABLE 2.1 Roles of the Accounting/Finance Function in Business Stewardship and Reporting Accounting/Finance Operations Business Management Support Regulatory compliance Management information Finance and accounting processes (procure to pay, order to cash, record to report, payroll and treasury) Tax returns Planning, budgeting, and forecasting Financial close-completing period-end accounts Stakeholder assurance Investo relations Raising capitalPeople management and loans Board reports Financial consolidation, reporting. and analysis Providing comprehensive management information Performance measurement, reporting, and analysis Performance management Risk management-from strategic to operational, including fraud risk Using IT to make finance and accounting processes more efficient and effective Investment appraisal Statutory reporting Cost management Supply chain management Value-based management Project management Change management Capital structure and dividend policy Strategic planning Professional expertise (e.g., merger and acquisition or tax) Souroe: Based on Improving Decision Making in Organisations: The Opportunity to Transform Finance London: CIMA, 2007), Figure 3. Consider the Stewardship and Reporting role of accountants shown in Table 2.1. What information would you need to collect and use to manage the regulatory compliance function? TABLE 2.1 Roles of the Accounting/Finance Function in Business Stewardship and Reporting Accounting/Finance Operations Business Management Support Regulatory compliance Management information Finance and accounting processes (procure to pay, order to cash, record to report, payroll and treasury) Tax returns Planning, budgeting, and forecasting Financial close-completing period-end accounts Stakeholder assurance Investo relations Raising capitalPeople management and loans Board reports Financial consolidation, reporting. and analysis Providing comprehensive management information Performance measurement, reporting, and analysis Performance management Risk management-from strategic to operational, including fraud risk Using IT to make finance and accounting processes more efficient and effective Investment appraisal Statutory reporting Cost management Supply chain management Value-based management Project management Change management Capital structure and dividend policy Strategic planning Professional expertise (e.g., merger and acquisition or tax) Souroe: Based on Improving Decision Making in Organisations: The Opportunity to Transform Finance London: CIMA, 2007), Figure 3