Quarter of CFOs prepared for euro breakup
CFO confidence suffers sharpest fall since 2007, its third major decline in five years, Deloitte survey finds
CFO confidence suffers sharpest fall since 2007, its third major decline in five years, Deloitte survey finds
WORRIES ABOUT recession and a breakup of the euro have knocked fragile CFO confidence in the business environment, according to a Deloitte survey.
The Deloitte CFO Survey, which polls the views of 137 finance directors and CFOs of UK businesses, found that a breakup of the euro was perceived as the biggest threat to UK corporates.
CFOs now see a 36% probability of one or more countries leaving the single currency by the end of this year, up from 26% in March, with almost a third saying their own plans for coping with a breakup of the single currency are “all made” or “at an advanced stage”.
Business confidence has also been hit by the UK’s return to recession. On average, CFOs see roughly a one-in-two chance that the recession will continue to the end of this year or that the economy will hit a triple-dip recession within the next two years.
Uncertainty has had a corrosive effect on risk appetite and 80% of CFOs say this is not a good time to take risk onto their balance sheets. However, only 4% cited the cost or availability of finance as having influenced recent changes in investment plans.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe Big Four firm was found guilty of breaches in relation to cash and the audit of supplier rebates Read More...
View articleFollowing the release of the Brydon report, in which Sir Donald Brydon has made 64 recommendations on how to improve the troubled UK audit industry, A...
View articleAccountancy Age spoke with Deloitte tax innovation experts Andy Gold and Chuck Kosal on the topic of Deloitte's tax plans for 2020, innovative tax sol...
View articleThis figure is up from £3.58bn in 2018, where the Big Four firm was second on Accountancy Age’s 50+50 list of accountancy firms. If they posted their ...
View articleWe are likely to see Sproul leading Deloitte in even more growth this year as well as making changes to embrace technology and the changing role of th...
View articleHere we reveal the top 5 individuals we feel will have the greatest impact on the accountancy industry in 2018 Read More...
View articleThe Top 50+50 Accountancy Firms survey revealed that although progress has been made, there is more work to be done to promote diversity Read More...
View articleRevenue growth can be attributed to the firm’s multi-disciplinary business model and client backing, says Deloitte's global CEO Read More...
View article