Over a quarter of FTSE 350 directors believe that the requirement to comply with new regulations has a negative impact on their business.
The finding is from a survey commissioned by Cartesis, the business performance specialist. Many respondents claim that precious time spent completing regulatory compliance is a distraction to managers and is perceived as a non value-add activity. This in turn is driving up costs, tying up capital and hence reducing profitability.
In addition, 33% of those surveyed feel compliance has little or no impact on the organisation.
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