Study: Compliance, staffing capabilities will need special attention in changing economy
The 2011 benchmarking study of the finance function, which gives accounting and finance executives a tool for evaluating how their organizations are performing relative to peers, has been released. The report was developed jointly by Financial Executives International (FEI) and Robert Half Management Resources.
- More than 70 percent of financial executives surveyed expect compliance regulations to increase.
- Four in 10 respondents (43 percent) use temporary, interim, or contract professionals in their accounting and finance departments.
- Eleven percent of this year’s respondents are using International Financial Reporting Standards (IFRS), up from 5 percent in the prior year.
- On average, it takes companies surveyed 22 business days to produce annual draft financial statements.