Compliance stifles outsourcing
0 Comments Published by claudia April 26th, 2007 in SOX, Section 404, Europe, Accounting rules, Sarbox Tags: accounting, business functions, compliance issues, corporate governance, finance directors, ftse 350, outsource, outsourcing finance, regulatory pressures, uk finance, uk ftse.Increased regulatory pressures and the fear of sanctions for failure to comply are making FTSE-350 FDs reluctant to relinquish control over sensitive finance and accounting functions
The burden of handling regulatory and compliance issues has become a major obstacle to outsourcing finance and accounting business functions, according to research among UK finance directors.
The survey of 50 FDs from UK FTSE-350 companies by LogicaCMG has found that FDs believe that increased regulation and a greater emphasis on corporate governance are the biggest barrier to outsourcing. Only 7% currently outsource any finance and accounting functions, with 68% stating that the burden of current financial regimes is holding them back.
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