Epiq say quick access to documents beyond most corporates
Epiq Systems Inc has released a new research report focused upon the edisclosure readiness of European and US companies. The full report is at www.epiqsystems.com/regulator.aspx The report – When the Regulator Calls – is based on a survey of more than 2000 corporations across sectors including aerospace, banking and manufacturing in the UK, France, Germany and the US.*
A majority (58%) of respondents stated that in their sector, most companies would not be able to rapidly and accurately access key information and documents likely to be demanded by a regulatory authority in the course of an investigation. In France, 69%of the companies surveyed believed that companies in their sector would not have the tools in place to enable them to access important information at short notice. In contrast, German companies were the most confident – 47% said that most companies would not be able to access information quickly and correctly. In the UK, 59% said this was the case, similar to that of the US where 56% said that companies would struggle to retrieve the information required.
Companies across 17 sectors in the U.K., France, Germany and the US were surveyed. Of these, food and drink (51%), extraction industries (52%) and chemical and pharmaceuticals (54%) expressed the most confidence in their ability to rapidly and accurately access key information. At the other end of the scale, companies in the media and publishing (74%), high-tech and information technology (69%) and telecommunications and internet service providers (68%) sectors expressed the least confidence in their eisclosure capabilities.
*MindMetre Research, on behalf of Epiq Systems, surveyed more than 2,000 corporations in the UK, France, Germany and the US between September and November 2011. Respondents were senior managers (functional heads or deputy heads) with responsibility for compliance, corporate risk, or both. Company size demographics were: 51-250 employees, 26.8%; 251-1,000 employees, 20.5%; 1,001-2,500 employees, 9.4%; 2,501+ employees, 43.3%.