Deloitte: Majority of CFOs See Positive Effects of New Financial Policies to Business
Earlier this month, 70 percent of participant of Deloitte’s Chief Financial Officers (CFOs) poll said the government’s financial policies had either not done anything or had a negative impact to their business. However, recent survey of the same gorup revealed, that after the 2010 midterm Congressional elections, 59 percent of CFOs hope that their industry might gain some benefits from new regulations.
During the annual Deloitte CFO Vision Conference held this month, senior finance executives said they were more concerned on the effects of the changes in financial policies, urging the government to reduce the deficit in Federal budget. Chief finance officers were hopeful non-traditional markets would offer opportunities to emerging markets with higher growth.
Barry Salzberg, chief executive officer of Deloitte LLP, said the imminent upsurge of China’s economy, the looming regulation, the pending effects of the reforms in health care system and the changes in financial policies have made these times ‘unusually uncertain,’ referring to what one pundit has said.
Salzberg expected CFOs to refocus their strategy on agility and capitalization on growth opportunities in the midst of the USA’s sluggish economic growth at present. He added that results from Deloitte’s third quarter ‘CFO Signals’ showed that most “CFOs from large enterprises expect a prolonged ‘U-shaped’ economic recovery, or even ‘bathtub’-shaped, wide-bottomed recovery rather than a ‘doubled-dip’ recession.”
Chief financial officers from the leading enterprises worldwide have gathered at the CFO Vision Conference to tackle domestic and foreign concerns that face senior finance executives at present. The group had an exchange of opinions regarding the effects of the 2010 midterm elections, regulatory, financial policies, hot spots for business growth, and changes in tax regulations.