Report: CPAs More Optimistic About Economy

By:
Chris Gaetano
Published Date:
Jun 3, 2016
CrowdAn AICPA survey shows that, in comparison to last quarter, CPAs in business and industry are more optimistic about the economy, according to The Journal of Accountancy. On the overall U.S. economy, 59 percent are optimistic, versus 47 percent last quarter. There was similar growth on optimism about their own organizations (63 to 68 percent), plans for expansion (63 to 69 percent), revenue (68 to 74 percent), and profits (60 to 63 percent). However, compared to last year, CPAs in industry remain pallid in their views: on no metric are they more hopeful than they were at the same time in 2015. U.S. economic optimism, for example, is still down 9 percent compared to second quarter last year, and profit expectations are down 6 percent. 

When asked about what they think are the greatest challenges facing their organization, CPAs in industry said: 

  1. Regulatory requirements/changes
  2. Domestic economic conditions
  3. Availability of skilled personnel
  4. Domestic competition
  5. Employee and benefits costs
  6. Stagnant/declining markets
  7. Domestic political leadership
  8. Developing new products/services/markets
  9. Liquidity
  10. Energy costs

Click here to see more of the latest news from the NYSSCPA.