Recent surveys reveal that nearly a third of CFOs are delaying or scaling back their investment plans due to the risks associated with the upcoming U.S. presidential election on November 5, 2024. According to a survey of 479 CFOs, 21% reported postponing investments because of election-related uncertainty, while 15% scaled down their plans. Overall, 30% of CFOs indicated that they have been affected by this uncertainty, although 64% reported no impact on their investment strategies [67075d09].
This cautious approach aligns with findings from a Deloitte CFO Signalsâ„¢ Survey conducted from July 17 to 29, 2024, which showed that only 14% of CFOs rated the North American economy as 'good,' and just 19% expected improvement within the next year. Inflation was identified as the top external risk by 57% of CFOs, while technology transformation was highlighted as the leading internal risk by 49% of respondents [61a2b9d3].
In a more recent survey from September 2024, Deloitte found that 58% of CFOs believe the outcome of the U.S. election will significantly impact their organizations. This survey also indicated that 33% of CFOs prioritize workforce issues for government focus, while 26% are concerned about outbound investment, 22% about supply chains, and 19% about AI regulations. Additionally, 56% of CFOs cited geopolitics as a major concern, reflecting the complex landscape businesses are navigating [cd2f23a6].
Despite the overall pessimism regarding the economy, 69% of CFOs expressed optimism about their own companies, and 60% were optimistic about the U.S. economy. However, regulatory policy was cited as the chief concern by 60% of CFOs, followed closely by monetary policy at 59% and corporate tax policy at 54%. Notably, concerns about inflation have decreased, with only 8% citing it as their top concern [67075d09].
The Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) reported a significant decline in economic confidence among finance professionals in North America, with their confidence index falling by 16.5 points in the second quarter of 2024. This decline contrasts with a global increase of 1.4 points, indicating a growing unease within the financial landscape [a28e1c73].
As the IRS increases scrutiny on large partnerships and new regulations on accounting methods were announced, the economic landscape for CFOs and CPA executives continues to evolve, further complicating their outlook [2b4c9276].