Presentation Title: GDPR & IFRS Compliance
Speaker: Mr Howard Page UKOUG Partner of the Year Awards 2017/18
Company: Q Software
Co-presenter: 
Presentation abstract: Following the 2007 Global Financial Crisis, national governments introduced bank regulation to ensure the events would not be repeated. Regulations were introduced subjecting banks and financial institutions to requirements, restrictions and guidelines, designed to create market transparency between financial services and the individuals and companies with whom they conduct business. The result of this is that regulatory reporting has become a prime focus for financial institutions.

Under GDPR, protecting customer data is the responsibility of the organisation that possesses the data. GDPR applies to personal data that resides anywhere within an organisation and applies to any company, inside or outside the E.U. that provides goods or services to European citizens. Organisations must be 100% compliant from day one (25th May 2018) or regulators will issue fines of between 2-4% of corporate revenue. Depending on the infringement, the reputational damage from non-compliance may be long lasting. The ability to report on data is vital to breach notifications. Under the regulation, companies must report certain data breaches within 72 hours. Failure to do so will result in a fine.

IFRS Compliance

International Financial Reporting Standards (IFRS) are a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB). As business becomes more global, especially with the rise of technology and outsourcing of production to countries with lower labour costs, the need to compare businesses against a global benchmark rises. Companies will be required to produce reports in the same way to enable comparable decision making derived from financial information. In effect, IFRS allows users of financial reports to "compare apples with apples".

A single standard also provides investors and auditors with a cohesive view of finances. There are several International Financial Reporting Standards which apply to a wide range of companies. Some of these apply to JD Edwards users; namely IFRS 15, 16 and 17. These standards apply to a range of accounting and reporting areas including accounting for revenue derived from customer contracts, recognition, measurement, presentation and disclosure of leases and insurance contract accounting.

In this session, we will discuss both GDPR and the various IFRS requirements, how they affect JD Edwards users and explain ways of meeting these requirements in conjunction with JD Edwards.

For more GDPR sessions, check out the sessions by the speakers below;

Apps:

Milomir Vojvodic

Baljit Sarpal

Paul Smit

Tech:

Peter Finnigan

Svetoslav Gyurov

Presentation begins: 05/12/2017 14:50
Presentation duration: 45
Presentation content level: 4 (1 = indepth, 5 = strategic overview)
Audience experience: All Experience Levels
Audience function: Customer/Senior Manager, Functional Manager, Product Expert, Product User
Speaker biography: I have worked with JD Edwards since 1998 initially as a JDE technical consultant, the technical project manager with JD Edwards, PeopleSoft and Oracle moving into sales roles. I have worked with several Oracle JD Edwards partner organisations. I am passionate about JD Edwards and the user community and an active member in all JD Edwards related events.
Related topics: Business Process Change: GDPR – General Data Protection Regulations
Hall: Hall 7B

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