The number of treasurers concerned about regulatory compliance increased from five per cent in 2003 to more than 30 per cent in 2004. This was the finding of a poll of CFOs and treasurers conducted by US-based management consultant Treasury Strategies. The 2004 Corporate Treasury Survey asked corporate treasurers about the key issues they currently face and regulatory compliance, primarily Sarbanes-Oxley, came at the top of the list. ‘This certainly reflects a strong trend we see with our corporate clients,’ said Mike Gallanis, a principal with Treasury Strategies. ‘There has been significant attention paid recently to Sarbanes-Oxley related programmes – verifying or improving treasury controls, documenting control procedures, and ensuring adequate and accurate treasury reporting.’ Among survey respondents, 78 per cent have Sarbanes-Oxley related projects underway or planned for 2004. ‘This issue is consuming a considerable portion of treasury resources this year, and actually represents an opportunity for treasurers to implement best practices,’ added Gallanis. Other issues cited indicate a growing pressure to optimise the use of staff resources and corporate cash assets, specifically including financing and credit, the effective application of technology, identifying operating efficiencies, and effective working capital management. The challenge of managing cash on a global scale is also an issue growing in importance.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.