Ingosstrakh automated reporting according to IFRS

On August 31, 2015 the Homnet Consulting company announced project implementation on automation of reporting according to IFRS in Ingosstrakh insurance company.

Project Tasks

Before employees of Group "Ingosstrakh" made the consolidated statements on IFRS by means of spreadsheets Microsoft Excel:

• staff of subsidiary companies filled and provided to head office the information of national accounting entering supplied, containing in the form of tables of Excel;

• staff of head office checked a packet of the entering data, transferred them to the IFRS format and prepared consolidated statements.

Office Ingosstrakh, 2014

Procedures of preparation of the reporting under IFRS in the company were not unified and became manually that influenced terms of preparation of the consolidated statements.

The management of the Ingosstrakh Group made the decision on complex automation of process of preparation of the consolidated statements according to IFRS on the platform of the product "1C Management of holding 8".

For the solution of assigned tasks invited Homnet Consulting company.

Project Progress

During the project specialists of the contractor implemented a system and performed works:

• the project documentation, including functional requirements to the system of preparation of the consolidated statements and private technical specifications on a system design is created;

• the additional functionality is developed and setup of a system is carried out;

• documentation on work with a system for users is created, training of staff of the company is provided.

Within implementation the functionality is automated:

• loadings of the packet of the logging-in data filled on the basis of national accounting with detailed interpretations of balance sheet items and OPU;

• procedures of automated verification of the loaded packet of the logging-in data, including interuniform checks;

• converting of data of national accounting from incoming packet of data of subsidiary companies in the IFRS format, including formation of the turnover balance sheet according to IFRS;

• process management of loading of a packet of the entering data of national accounting and process management of data transfer in the IFRS format;

At a stage of development and deployment is:

• data loading of insurance base of subsidiary companies, charges according to insurance contracts of subsidiary companies, including automated verification of the loaded data for the subsequent use by the staff of department of actuarial calculations.

Project Results

Upon completion of project works 30 automated jobs with a possibility of remote access by means of the Internet with differentiation of access rights are created.