RegulationCorporate GovernanceRegulation forces finance function from strategy

Regulation forces finance function from strategy

PwC director bemoans the effect of regulatory push onto the finance function 

Regulatory demands are forcing finance departments away from strategy,
according to PricewaterhouseCoopers risk assurance director Carolyn Clarke.

Speaking during the showcase of speakers attending this year’s Softworld
Accounting & Finance, Clarke said that the finance function was ‘bursting at
the seams’ and struggling to cope with the pace of regulatory change.

‘The result is that often finance has moved further away from the main hub of
the business it supports into a compliance role – and research indicates with
significant additional cost,’ said Clarke.

‘It is essential that companies take time to consider how they move the
compliance projects they have undertaken from a project basis to business as
usual so that reporting under new rules is repeatable and sustainable.’

Clarke will be speaking at Softworld, held at the NEC in Birmingham on 18-19
October.

Her session will focus on advising how finance teams can react quickly to
changes affecting the function.

For more information on Softworld go to
www.softworld.co.uk/af

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