Survey Reveals Closer Collaboration Between Accounting, Other Departments to Achieve Corporate Governance Goals
MENLO PARK, CA -- When it comes to ensuring sound corporate governance practices throughout an organization, executives agree they cant go about it alone. In a nationwide survey, 77 percent of respondents said their companies accountants are working with departments throughout the organization to uncover financial irregularities and prevent corporate scandals like those that have made headlines in recent years.
The survey was developed by Robert Half Management Resources, the worlds premier provider of senior-level accounting and finance professionals on a project basis. It was conducted by an independent research firm and includes responses from a stratified random sample of 150 executives from the nations 1,000 largest companies. One hundred thirty-four public companies and 16 privately held firms participated in the survey.
Executives were asked, "How have recent corporate accounting scandals impacted how closely your accounting department works with other departments in your organization on issues relating to corporate governance?" Their responses:
|Working with them much more closely||30%|
|Working with them somewhat more closely||47%|
|Don't know/no answer||2%|
"Sound financial reporting is dependent on receiving accurate information from every operating unit of a business, whether the company is public or private," said Paul McDonald, executive director of Robert Half Management Resources. "All managers should play a role in ensuring their departments financial activities and reports are accurate and support the firms ability to comply with the Sarbanes-Oxley Act and related legislation."
McDonald added, "Accounting professionals are providing direction and assistance to executives throughout the organization on compliance issues related to corporate governance. Firms where this interdepartmental collaboration is absent are at greater risk of errors in reporting."
Robert Half Management Resources has locations in major cities throughout North America, Europe and Australia, and offers online job search services at www.roberthalfmr.com.
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