Corporate treasury concerns over compliance
Concern over regulatory compliance among corporate treasurers has soared to 30% in 2004 ? a six-fold increase on 2003 levels, according to a poll conducted by Treasury Strategies. Almost 80% of corporate treasurers, the poll reports, are undergoing projects, or have plans to do so, based on Sarbanes-Oxley compliance. Financing and credit concerns, followed by the use of technology and cash management top the list of priorities for corporate treasurers in 2004, while the survey also reports negligible changes in staffing levels.
?What we saw in the specific comments about treasurers? key issues, and what we hear consistently from our clients is the growing pressure to do more with less,? comments Susan Skerritt, a partner at Treasury Strategies. ?In the context of the current regulatory environment, rapidly changing technology, constrained resources, and expanding complexity in financial management activities, treasurers are facing a significant challenge to satisfy the demands placed on them.?