Question

Did you know that many companies are now asking their entire accounting and finance staff to...

Did you know that many companies are now asking their entire accounting and finance staff to sign off on the accuracy of their work for quarterly financial reporting? This is a relatively new trend where even "lower level" employees are signing these internal company documents. This then goes up the hierarchy chain to the highest level, CEO and CFO.

Why are companies going to the lowest levels in the organization to do this now? What are some pros/cons of this approach?

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Answer #1

Why are companies going to the lowest levels in the organization to do this now?

This is mainly because to check the authencity if the numbers/data. Because many company people are manipulating numbers in quarterly results so that their market/share price will not affect if competitors posts better numbers.

Now if the lowest levels are involved then they can't change the data/numbers.

Pros:

Authenticity

Reliability

Confidentiality

Low level importance

They feel they are playing an important role in company

They will be motivated

Cons

Time consuming

Data leak may happen

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