Asia’s top corporates rate hiring the right talent, training and embracing technology as their greatest challenge to meeting local and global regulatory requirements in the year ahead, according to the Asia-Pacific Researching Asia’s Compliance and Regulatory Readiness 2018 survey conducted by CorporateTreasurer in partnership with TMF Group.
We asked senior financial executives across the region about their future growth plans and their level of confidence in achieving them. Issues such as the complexity of the jurisdictions they were either operating or moving into were factored into their responses.
For example, those surveyed viewed China’s financial and regulatory environment as very complex and a barrier to success. In contrast: Hong Kong, Singapore, New Zealand and Korea ranked as easy. In terms of regulatory challenges cyber-security, tax compliance, basic erosion and profit shifting (BEPS) and transfer pricing were top of mind when doing business in the region.
In the TMF Group’s view, the biggest issue for most organisations is not having adequate resources to oversee legal, compliance and tax matters in APAC, so staying on top of regulatory changes presents challenges for in-house company secretaries and compliance officers.
To learn more about the results of this exclusive survey, please download the report.