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Surveys show regulation, compliance overwhelming

A series of new studies find that companies are swamped by increasing regulatory scrutiny

A recent slate of surveys has shown that regulatory requirements have increased and only become more burdensome for companies of all sizes.

Continuity Control produced its latest Banking Compliance index, compiling data for the third quarter of 2013. The results of the study indicate that there has been a 31 percent increase in enforcement actions in the past three months, and that the cost of compliance with regulatory requirements has soared past $43,000 per company per quarter.

BDO USA polled a selection of board members from public companies and came up with some interesting results concerning the Public Company Accounting Oversight Board and its recommendations. 45 percent of respondents do not believe that the PCAOB’s proposal will make annual auditor’s reports better, and 69 percent state that they are suffering from regulatory overload.

In other studies, the Rand Corporation found that both fair value and historical cost accounting contribute to systemic risk in the financial sector, as both methods can potentially produce misleading information and result in institutional and systemic risk. Also, a study from the Tabb Group found that managers of so-called “boutique firms” are overwhelmed by increased regulatory requirements, as large firms continue to grow larger and small firms find prosperity in specialized niches, leaving the middle-tier firms in a difficult position.

Senior Editor and Community Manager

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Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

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