Compliance spending to rise 23%, says PwC
NEW YORK -- Most international financial firms expect to increase their compliance spending by an average of 23% during the next year, according to a recent survey by PricewaterhouseCoopers (PwC).
The survey found that external requirements and regulations account for 74% of total compliance costs. US firms spend more on external requirements (84% of their compliance budget) than their European counterparts, who spend 61% of their compliance budget on external requirements. European firms spend more (39% to 16%) on internal compliance -- including ethics, code of conduct and risk management
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