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NetSuite CFO: Constantly Changing Regulations Among Major CFO Challenges

NetSuite CFO: Constantly Changing Regulations Among Major CFO Challenges

While the unsteady financial markets certainly provide a roller coaster ride for financial executives around the world, CFOs have also expressed concerns that the changing nature of government regulations keep them up at night as well.

In fact, NetSuite CFO Ron Gill told IDG News recently that the biggest challenge facing CFOs today involves balancing the various regulations and pinpointing exactly what they mean for the company's day to day operations.

"There's constantly new accounting guidelines coming out," Gill told the publication. "Then you have something like [the] Dodd-Frank [Act]. You have a constantly changing regulatory and government guidance environment. You have to keep on top of all of it but at the same time you have to pay attention to the important part, which is actually building the company. That balance is a real challenge."

NetSuite, which sells SaaS packages to clients for a number of purposes, reported a total revenue increase of 23 percent in the second quarter of 2011 as compared to the same period in 2010, according to the company's website.

Still, Gill told IDG News that regulations like the Dodd-Frank and Sarbanes-Oxley acts make it ever challenging to keep the business running smoothly.
 

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