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EY study: 87% of CFOs plan to increase their investments in technologies for corporate reporting in the next two years

23 Nov 2017

As the political and social environment changes, the business rules and standards - regulatory standards, accounting standards, protocols, legal and ethical regimes - turns to respond to these changes.

In addition, innovative technologies and sophisticated data analysis become essential in meeting the growing compliance requirements. 71% of financial directors (CFOs) around the world believe that changes to compliance requirements locally and internationally have become so complex that affects the effectiveness of reporting. Moreover, 56% of the CFOs have at least 11 reporting standards that must comply with and use at least 11 reporting systems(accounting systems, Enterprise Resource Planning ("ERP") and Excel).

For more information, please see the Romanian version of the article, here.