The survey confirms that many European multinationals are not yet able to close their books and produce results in the timeframe being demanded by their managers and the investment community, despite the fact that many have increased headcount and cost to try and meet these demands.
Pressure on reporting have increased due to the recessionary environment, plans to move to International Accounting Standards and the need to move to faster and more accurate quarterly reporting.
In the PwC survey the fastest legal close was five working days and the slowest 120.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements