CODA Financials, Inc., the finance systems specialist, announced results from a detailed survey of 147 international companies in the United Kingdom, Germany, France, The Netherlands and the United States. The survey looked at how organizations are addressing the triple challenge of conformance with new corporate governance and accounting standards, the growing demand for corporate responsibility and the need to both protect and grow shareholder value. The aim of this survey was to understand how corporations are addressing the challenges of corporate governance and accountability and balancing those pressures with the need to drive improved performance.
A detailed report of the research is available from CODA and shows that the survey respondents look to a variety of sources for help in implementing corporate governance. The market is dominated by accountancy firms, but specialist management consultancy and legal firms also feature. With respect to risk management, specialist management consultants appear to play a greater role, with traditional audit and accounting firms also playing a strong role. Not surprisingly, the performance management market focused around planning and forecasting, continues to be dominated by management and specialist consultants.
Conducted in the spring of 2004 by PMP and National University of Ireland, Galway on behalf of CODA, the Enterprise Governance survey consisted of in-depth interviews with senior finance professionals from 147 international businesses across Europe and the United States. Thirty-three percent of those interviewed were based in the United Kingdom, with a further 32 percent based in the United States. The remaining survey participants were drawn from France, Germany and the Netherlands. A small number of the respondents were CODA clients.
Of those organizations that participated in the study, 36 percent had a U.S. parent and 28 percent had a U.K.-based parent. The interviews were drawn from a wide range of industry sectors with the largest group being manufacturing, at 27 percent, followed by banking and finance at 14 percent. The survey data was complemented by information from a variety of other sources, including case interviews, focus groups and successful client engagements.
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