Corporate CFOs and controllers are struggling to keep up with the pace of change in financial reporting, according to a global EY survey that found an increasing number say change is having a significant impact on the effectiveness of corporate reporting.
The biggest obstacle to transforming corporate reporting is the cost and complexity of making changes to the legacy information technology environment, according to half of the 1,000 CFOS and controllers surveyed. Close to one-third said their reporting operating model is average, and 56 percent say transforming the model is a primary focus of their role within their organizations.
