I'm a commerically focused finance leader rather than a conservative "dot the Is and cross the Ts" accountant. And like many colleagues in Europe and the US, I've spent a lot of time dealing with S404 Sarbanes Oxley compliance, where senior management needs to sign off on the existence of business controls. The consequence is that you need a huge system documenting line managers proving that they have detailed controls at every level of management. Initially, it seemed completely ridiculous. However, it's not all bad.
Firstly, on a personal note: the defining moment that caused me to move into finance was not a turnaround or a big investment. It was basic business controls. I went to Indonesia in the days of the Tiger Economy boom. Business was growing fast, deals were being made, parties were being had and Jakarta was full of expats, money, long nights and gorgeous girls. I was doing post-implementation work with MFG/PRO, reporting to the Finance Director (an austere Dutchman from the northern protestant provinces). He had an internal audit report that was critical about the management of credit risk to our customers, although there were actually no indications of credit problems in an environment of 20% growth. However, we sat down and went through the customers, updating credit ratings, liens, mortgages and bank guarantees necessary. To some customers we said goodbye. Sales management was puzzled.