Where are you on your Compliance Journey?
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In March 2011, BDO, in partnership with SSON, launched a compliance survey which explored the challenges associated with achieving local compliance in a centralised finance environment. Non-compliance is costly on a number of different fronts, and getting it right first time is now more important than ever. The survey also asked about the different models deployed to achieve local compliance.
The results of the survey proved just what many of you are up against:
- 70% of companies are retaining staff in-country for local compliance, or using different local accounting firms.
- 45% have moved to some compliance functions to the centre or to a single, global firm
BUT...Which approach yields the best results? And how should you be managing your compliance? Our experience suggests that when organisations move finance functions to shared service centres or to BPO, the reduction in local finance headcount can have a significant negative impact on local compliance.
Join this webinar to discover which solutions have proven most effective for companies to maintain necessary compliance with local regulation within a centralised Finance shared services environment.
As the world's fifth largest accounting network, BDO combines global reach with strong personal relationships. That's what makes us different. BDO has over 44,000 partners and staff in over 1,000 offices operating in over 120 countries and a worldwide fee income of US$ 5.1bn. Outsourced Global Compliance – With our extensive international network, we help global organisations manage local compliance needs, anywhere in the world. We take care of the financial infrastructure, leaving our clients to focus on running their business. Our market-leading local knowledge enables us to provide support ranging from operating local bank accounts, financial accounting, payroll and company secretarial administration to local and international tax and corporate finance advice. Most of our offices can also provide cheque signing and local director facilities as well as advice on setting up business in the most advantageous way. We also provide central visibility and control through a dedicated Client portal, with a central point of contact and single contract.
David is a director in our Global Outsourcing department in Reading, UK. He has held various European roles with global businesses including Unisys and Novell and spent 8 years with Ernst & Young before joining BDO in 2006. David works with global businesses to help them maintain compliance with local regulation in a shared services environment. He has presented at shared services conferences in the USA and Europe.
David is a Board member of Byte Night – an event bringing together executives from the IT and related industries to sleep out in the open for one night in October each year to help prevent youth homelessness.