Poll: CPAs Optimistic on Economy, Remain Concerned About Cost, Availability of Talent

By:
Chris Gaetano
Published Date:
Jun 1, 2017
By Revisorweb - Own work, Public Domain

A survey of 726 financial executives conducted by the AICPA has found that CPAs are generally positive about the economy, but are worried about rising wage and benefit costs, as well as the availability of new talent, according to the Journal of Accountancy. Theb survey was compiled as part of the CPA Outlook Index (CPAOI), an equally weighted, nine-measure component of economic sentiment. Overall, the CPAOI slipped a point to 75, from 76 in the first quarter but still ahead of the 68 recorded a year ago. Year over year, all nine components of the CPAOI are up. Five components dropped compared with the previous quarter, but three rose slightly and one remained the same. The survey identified employee and benefits costs, followed by availability of skilled personnel, as the two main challenges businesses are facing. Companies are expecting to spend 2 percent more on training over the next year, the highest since the end of 2014, and are expected to increase hiring by 1.8 percent. 

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