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?

Expert Solution

Answer :-

Yes I 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 only because of the motivation to the lower level employees and also feel them that they also have a value in the company. All the employees , managers , CFO ,CEO all are responsible for the efficient working and any inefficient activity of the company, The companies have done this to make the employees feel motivated.

The Pros of this appproach

The employees are get motivated to work due to this approach. This creates a Valuable feel of the employees. It is just like a non monetary incentives for them, This signing make responsible the employees for the working of the organisations.

The Cons of this approach

The cons is that the employees may fear in signing the reports . another disadvantage is that the estimates are taken by the senior management but signing is done also by the lower level of employees.

jeff jeffy answered 2 years ago

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