Just 35% of finance departments are following reporting guidelines to the letter, while the remaining 65% said there was room for improvement, a survey by Softworld discovered.
In light of this, it was not then surprising that only 24% of those surveyed said the recent accounting scandals had impacted on the way they provided information.
Changes in regulations such as Sarbanes-Oxley and the Higgs report had a slightly bigger impact with a third of finance departments saying that these had increased pressure on their methods and speed of financial reporting.
The survey did however reveal a greater integration of software, with 59% of companies saying they now linked their accounting systems with other applications such as sales databases.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016