A majority of accounting and finance executives in the U.S. and Canada are anticipating that their companies’ compliance burden will increase in the years ahead, though less than half expect the cost of compliance to grow.
A new study, Benchmarking the Accounting & Finance Function: 2014, by the staffing firm Robert Half and the Financial Executives Research Foundation, the research affiliate of Financial Executives International, found that 74 percent of U.S. and 67 percent of Canadian finance and accounting executives said they expect their companies’ compliance burden to rise in the coming years, while 48 percent and 41 percent of U.S. and Canadian executives, respectively, also anticipate the cost of compliance will increase. Nearly all the survey respondents (99 percent in the U.S. and 96 percent in Canada) project the cost of compliance to either rise or remain steady, with 48 percent and 41 percent, respectively, expecting it to increase.
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