Finance teams carry not only great responsibility but typically face time constraints as well. The scope of work is diverse, ranging from accounting and controlling to taxation, corporate finance and M&A.

Each area of responsibility comes with specific tasks requiring a wide range of different data:

• for impairment tests and purchase price allocations
• for profitability analysis and value
• for calculating interest rates between group companies
• for business valuation and benchmarking

Relying on the wrong data foundation can quickly lead to trouble: The financial statements may feel "incorrect". Personal liability looms while reputation suffers. Additionally, the company faces tax risks because tax authorities may reject the calculation basis.

Obtaining required data from your own auditor is the wrong approach. Due to their relationship with you company, they lack neutrality –  making their data essentially "biased" and therefore unusable.