Financial Consolidation Agent

Deloitte’s AI-enhanced Financial Consolidation Workflow can transform the way financial consolidation is managed, helping ensure efficiency, accuracy, and compliance across the entire lifecycle. This solution leverages intelligent agents to automate and optimize each step, from entity data collection to audit trail and documentation.

Key Steps and Enhancements:

Data Standardization: AI learns mapping patterns and auto-maps new accounts with validation.

Currency Translation: AI applies correct rates by account type and tracks translation adjustments.

Intercompany Identification: AI uses fuzzy matching to identify IC transactions despite timing/FX differences.

Elimination Entries: AI automatically generates elimination entries and explains variances.

Minority Interest Calculation: AI calculates NCI with proper allocation of comprehensive income components.

Consolidation Adjustments: AI tracks recurring adjustments and suggests entries based on patterns.

Investment Elimination: AI handles complex structures including step acquisitions and disposals.

Variance Analysis: AI identifies unusual variances and suggests investigation priorities.

Financial Statement Prep: AI auto-generates statements with drill-down capabilities to source data.

Disclosure Notes: AI drafts disclosure notes using templates and current period data.

Audit Trail & Documentation: AI creates automated audit packages with full data lineage tracking.

Benefits:

Operational Efficiency: Reduces manual effort and accelerates processing times.

Accuracy: Enhances data extraction and validation accuracy.

Compliance: Determines adherence to policies and regulations.

Financial Reporting: Improves consolidation timeliness and accuracy.

By embedding AI into routine tasks, Deloitte’s solution not only boosts productivity but also frees up human talent for strategic innovation. It’s a future-ready platform that brings together AI, automation, and human oversight into a cohesive, high-impact solution. This professional service utilizes Amazon Bedrock, Bedrock Agents, Strands Agents, Lambda and OpenSearch.