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CFOs worry about impact of data on accurate reporting

Benjamin Cher Published on Wed, Nov 23, 2016 / 1:41 PM GMT+8

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SINGAPORE (Nov 23): Chief financial officers (CFO) are concerned about the increasing speed and volume of data impacting their ability to provide insights quickly with no errors, according to a report by EY Financial Accounting and Advisory Services.

Now 66% of respondents globally say this is an issue having a significant impact on corporate reporting, up from 57% in 2015.

Technology is cited as the top external reporting challenge, according to the annual global survey – How can reporting catch up with an accelerating world?— of over 1,000 CFOs or heads of reporting of large organisations across 25 countries, including 40 from Singapore, in organisations with revenue greater than US$500 million.