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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.