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Senior IFRS Technical Specialist

ReferenceP12345
OrganisationPhilips
LocationAmsterdam
Salary / RateEuro 70.000 - 80.000

Organisation

Working in one of Philips Corporate Staff Departments, you’ll be at the heart of our worldwide company. These departments play a key role in supporting the Royal Philips Electronics Board of Management (BoM). So you may be involved in helping manage the processes and functions core to our operations: Performance Management, Finance,
Human Resources, Technology Management, Brand Management, or Information Technology.

Whatever your role, you’ll be helping implement BoM decisions, measure our performance, set company-wide standards and drive corporate initiatives. You may be involved in the creation of corporate products as diverse as our Annual Report, our brand image or a high-quality talent pool. But in every case, your activities will touch those of colleagues throughout Philips, as well as customers and stakeholders outside.

 

Corporate Control is the Corporate Staff department of Royal Philips Electronics with responsibility for the financial and management accounting activities of the company.

Corporate Control aims to provide cost effective, reliable and meaningful information in order to enable stakeholders to have insight in the Philips performance, and support the BoM, GMC and Supervisory Board in their decision-making.
It aims to maintain a world-class control function worldwide. Corporate Control provides functional training on accounting and control processes and methods and facilitates the Management Development process for the Finance function.

Corporate Control offers functional guidance to the Sectors and Businesses with respect to accounting and control issues and is Philips' leading competence center with regard to the definition of adequate accounting policies/procedures, and to ensure external and internal compliance.

Corporate Control manages an effective and efficient common infrastructure for financial reporting. Furthermore, Corporate Control manages and controls the Holding Administration of Koninklijke Philips Electronics N.V.
Corporate Control acts as a Business Controller for PD Miscellaneous, PD Unallocated and the Group Overheads & Services.

Within Corporate Control the Policies & Directives Group is responsible for the establishment and communication of the accounting policies of the Philips Group. The activities of the group are:
1. Develop and maintain Philips Accounting Policies and Directives. The purpose is to maintain an efficient and easy to apply framework of accounting principles that allows Philips:
•to ensure Philips Accounting Policies and Directives comply with IFRS and US GAAP,
•to meet external reporting requirements in an efficient and timely fashion,
•to have necessary information for internal decision making and performance management available, and
•to respond to changing information needs both inside the company and in the global financial markets.
2.  Monitor and support uniform interpretation and application of Philips Accounting Principles to ensure consistency in internal and external reporting and to safeguard Philips interests in case of reviews by regulatory agencies (SEC, AFM).
3. Assist in reviewing the financial statements in the Philips Annual Report and Form 20-F and ensure compliance of IFRS, US GAAP and SEC rules . 
4. Provide support to the Board of Management, Sectors and Corporate Staff departments in the application of Philips Accounting Principles and provide advice on the developments in external accounting standards and their relevance for Philips. Consult with external auditors and regulators on the implementation and interpretation of new accounting standards. Advise on reporting issues and accounting standards in due diligence, post merger integration, disentanglements, impairment-reviews etc. 
5. Participate and/or provide training courses for finance staff on complex accounting issues and new policies and directives.

Policies and Directives Group is composed of a small team of specialists, with in-depth knowledge of IFRS, US GAAP, SEC rules, who performs these activities, operating from the Corporate Center.

Assignment

- Developing and/or updating accounting policies and directives and preparing related instructions on the basis of external developments (new standards) and internal business requirements.
- Advising reporting units on the application and interpretation of accounting policies.
- Reviewing internal reporting to ensure compliance with the Philips accounting policies and directives IFRS and SEC rules.
- Participating in working groups dealing with complex accounting matters.
- Assisting in preparation of selected sections of the external financial statements

Profile

- Academic background in accounting with relevant professional qualification (Registered Accountant, CPA or equivalent).
- At least 8 years of experience in financial reporting and/or auditor role (Big 4 background preferred).
- In-depth knowledge of accounting standards and active interest in new developments in this area.
- Strong communication skills and an ability to communicate effectively with non-specialists.
- Team player with ability to work under high pressure.
- Understanding of and sensitivity to business environment


Contact

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