The Future of Financial Reporting: A Market Perspective
Following on the heels of corporate scandals at Enron, WorldCom, Parmalat, Livedoor, and others internationally, investors around the world are demanding stricter corporate governance and compliance requirements for publicly held companies. Not only are reporting requirements increasing to meet this demand, but accounting standards are changing as well. Investors are looking for transparency beyond the basic economics to better understand how businesses operate and perform. Finance and accounting executives around the globe face the pressure of understanding, adapting to, and managing the costs associated with these changes. For those that prevail, there is an opportunity to leverage this shift to better position their companies in the eyes of the investment community.