The Accounting of Financial Professionals Report unveils core challenges

Financial Census 2024 report cover

Managing spending today is more complex and critical than it has ever been. Accounts payable teams control, validate, and process all cash leaving the business. Inaccurate reporting can have painful and costly consequences, including poor business and investment decisions, regulatory fines, and reputational damage.

The 2024 Financial Census reveals key challenges of finance teams, including rising fraud, growing deepfake scams, issues of internal fraud, fear of retaliation for whistleblowing, and the retention of talent.

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Medius collaborated with Censuswide to survey 1,533 senior finance executives across the US and UK to find out what is plaguing leaders, and to get their thoughts on overcoming these challenges.

“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud, but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long run.”

-Jim Lucier, CEO, Medius

The 2024 Accounting of Financial Professionals Report examines the key challenges and stats from finance teams, which include:

  • Rising fraud, its costs to businesses, ownership responsibilities and how it is perpetrated
  • The issues with deepfakes and the existential crisis it causes to a business’ financial security
  • The impact of employee expenses to an organization
  • How the AP department spends its time
  • The retention of talent and common complaints

Get the report to dive into:

  • Challenges, research statistics and more
  • Key takeaways from finance professionals
  • The benefits of AP automation and how it can address these challenges and more.

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