Statutory Reporting

Updated September 2026Finance Software Glossary

Statutory reporting is the preparation and filing of financial statements that a company is legally required to submit to government authorities in each country where it operates. Requirements follow local law and local accounting standards, so a multinational group often produces one set of consolidated accounts plus separate statutory accounts for every legal entity.

Group reporting and statutory reporting run on different tracks. The group closes and consolidates under one standard, often IFRS or US GAAP, while each subsidiary also files local accounts under local GAAP on local deadlines. A German subsidiary files HGB accounts and a French one files under French GAAP, and both feed the same IFRS consolidation.

The pain is volume and variation. A group with 60 entities across 25 countries manages dozens of formats, languages and filing calendars, commonly with local accounting firms handling the actual filings.

In software: CCH Tagetik supports local GAAP adjustments alongside group consolidation, OneStream handles multi-GAAP reporting from one data model and Workiva is used to produce and control statutory document sets.