More than half of U.S. and European multinational companies will increase their compliance spending by an average of 23 percent over the next 12 to 24 months, according to a recent survey from Big Four firm PricewaterhouseCoopers.According to PwC's Management Barometer Survey, about 51 percent of those polled said that they would raise spending on compliance, while some 44 percent of senior executives revealed that their companies do not have a clear view of their total compliance spending.
Overall, companies that responded to the survey indicated that they expect to increase their compliance spending by an average of 9.9 percent over the next 12 to 24 months.
A large majority (90 percent) said that during the next 12 to 24 months, they plan improvements to their company's compliance efforts, including risk management, bolstering programs to reduce compliance costs and streamlining cost efficiency.
Some 49 percent of U.S. and European multinational companies believed that their compliance programs need improvement, while a surprising 52 percent said that they don't understand clearly the value that their company receives from compliance spending.
The survey, as well as PDF versions of the findings, are available at http://www.barometersurveys.com.
