During my period working for a US listed fortune 500 company we faced thousands and thousands of IC transactions monthly, the workload exceeded the capabilities of our accountants on the ground which in return caused the reconciliations to become of out date.

The biggest problems we faced we repatriating cash from certain African countries. The intercompany invoices remained outstanding for long periods which in return then raised the issue with our auditors in these countries.

Intercompany transactions really is a beast on its own, especially when the intercompany branches are in different countries, you then need to start implementing transfer pricing policies to ensure you comply with the local customs regulations.

What did help was to have dedicated intercompany teams reviewing and ensuring the quality en reliability of the intercomany accounts.