Deep flaws in month-end reconciliation processes create distrust in finance departments in the U.S. and Europe, leaving only 28 percent of respondents willing to trust the reported numbers, according to a new survey of financial professionals.
Only 28 percent of the 300 finance professionals surveyed by software developer Adrra Match said they trust the reported numbers. Managers, such as CFOs, controllers and finance directors, indicated that they trust their numbers at a much higher rate (30 percent) compared to their staff (15 percent). But 90 percent of the survey respondents said they felt under pressure to close faster. Only 39 percent said they are satisfied with the quality of the closing process.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access