Spectrum Brands Reduces Operational Risk with Hedge Accounting Insight
Spectrum Brands, a global consumer products company, has selected Hedge Accounting Insight as its hedge effectiveness testing solution. Spectrum Brands expects to reduce the time, cost and risk associated with its existing hedge accounting process with Fincad’s affordable software-as-a-service (SaaS) solution.
Before subscribing to Hedge Accounting Insight, Spectrum Brands was using only spreadsheets. However, Spectrum Brands decided to adopt Hedge Accounting Insight as it took on more complex hedge products and needed an easy-to-use, unified solution to simplify its hedge accounting process. Spectrum Brands anticipates saving significant time and cost with this solution, allowing it to devote resources to other activities as well as minimising the risk of audit restatements.
“Hedge Accounting Insight ties together all of the analysis and reports needed for hedge accounting in a clear, concise package that is very easy to use,” said John Beattie, vice president and treasurer, Spectrum Brands. “The detailed reports are complete, organized and intuitive, which is valuable to our auditors, making our audit process smoother and more efficient.”