Survey: Rising Demand for Help with Risk, Governance and Compliance Initiatives
TORONTO, Oct. 8, 2015 /CNW/ - Companies are tapping financial consultants for a wide range of projects, with a strong focus on risk, governance and compliance, new research reveals. In the Robert Half Management Resources survey, 81 per cent of chief financial officers (CFOs) whose firms work with consultants said they are likely to bring in project professionals for risk, governance and compliance initiatives, followed closely by those who specialize in finance optimization (79 per cent) and finance and accounting (78 per cent).
CFOs whose companies work with consultants were asked, "In which of the following areas is your company likely to bring in financial consultants or project professionals in the next 12 months?" Their responses*:
| Risk, governance and compliance |
81% |
| Finance optimization (e.g., finance remediation) |
79% |
| Finance and accounting |
78% |
| Business systems and performance improvement |
76% |
| Taxation |
69% |
*Multiple responses permitted.
"With regulatory requirements evolving so quickly, companies dealing with new risk and compliance needs often lack the in-house skills necessary to handle these complexities," said David King, Canadian president of Robert Half Management Resources. "Leveraging financial consultants for particular initiatives ensures that these projects are managed by practiced professionals who have specific expertise."
"Many financial executives are attracted to the challenge and variety that consulting work offers," added King, "which means good news for companies seeking immediate and highly-experienced interim support."
Robert Half Management Resources offers three tips to help companies make the most of their engagements with consultants:
- Communicate, communicate, communicate. Clearly explain to consultants your goals and expectations. At the same time, talk to full-time staff about their roles and how they will work with the interim professional. Confusion on either side could hinder the success of the initiative.
- Integrate consultants quickly. Help project professionals build rapport with their colleagues and acclimate to the workplace culture. The sooner consultants understand how work gets done at your firm, the sooner they will make valuable contributions.
- Transfer knowledge. Don't lose key learnings from an initiative. Prior to the end of an engagement, provide a forum for consultants to share best practices with staff.
About the Survey
The survey was developed by Robert Half Management Resources and conducted by an independent research firm. It is based on telephone interviews with more than 270 CFOs from a random sample of Canadian companies that work with financial consultants.
About Robert Half Management Resources
Robert Half Management Resources is the premier provider of senior-level finance, accounting and business systems professionals to supplement companies' project and interim staffing needs. The company has 150 locations worldwide and offers assistance to business leaders and consultants at roberthalfmr.ca and on its blog at blog.roberthalfmr.com. Follow @RobertHalf_CAN on Twitter for additional workplace advice and hiring trends.
SOURCE Robert Half Management Resources
Naz Araghian, 416.865.2140, [email protected]
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