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Compliance is a long-term challenge

Finance functions have borne the brunt of the major regulatory compliance projects of recent years. Inevitably, that has distracted them from other tasks, with 62 percent of executives in large organisations saying regulatory compliance has absorbed time that could have been spent profitably elsewhere.

There is no sign the burden will ease any time soon; indeed, among financial services companies in the survey, 67 percent of finance executives expect it to increase over the next three years. By investing in better information management and more robust standardised processes, finance functions can prepare the groundwork for future compliance requirements and thus release time for more value-added activities.

Time that will be spent on regulatory compliance over next three years

Content and graph source:  EIU

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