Understand independence status in real time
Public accounting firms and their networks are naturally federated organizations, with partners seeking to grow business. At the same time, the independence rules pertaining to the types of permissable services are complicated. The organizational structures of clients and prospects are large, global, and complex. Some clients must be handled with special care as they are public interest entities. How can a public accounting firm track hundreds, if not thousands, of requests to perform a service each day across different jurisdictional rule sets?
Kingland has been assisting organizations with scope of services compliance since the early 2000s with data and technology solutions. Using the Kingland Platform of rules, workflow, data models, and visualizations, firms can orchestrate the service request, collect the appropriate documentation about the service request, and route it to the right individuals in the member firm and/or network for adjudication. We provide dashboards and notifications to the individual submitting the request as well as to approvers and administrators in order to ensure everyone knows the status in real time.
Scope of services independence relies on a strong data foundation. In a federated organization, a common question asked is, "Do I really know my customers and their family trees?" Independence rules presume that you do, including dealing with clients that have a minority ownership interest in other entities. In addition to our legal entity hierarchy data and alerts, we provide robust hierarchy management visualizations that enable data to be managed and changed with corporate actions and normal maintenance processes.
Kingland brings together the right data and technology to manage this complex set of jurisdictional rules, organizational complexities, and required business development processes. Join other leading firms in reducing the complexity of scope of services independence.
See how we assist in scope of services compliance.