North America's top finance executives have dialed down their 12-month outlooks and overwhelmingly cite economic or financial market risks as their top concern, Deloitte found.
Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C., May 3, 2023.
"Trade conflicts and Russia’s invasion of Ukraine were pervasive concerns for CFOs over the last calendar year, and geopolitical issues are still commonly cited risks," he said. "However, banking shocks andDeloitte's survey also found CFOs are being directed by their CEOs to focus on cost-reduction measures. Some 33% of respondents said now is a good time to take risks, down from 40% in the first quarter.
CFOs have cited talent and labor concerns as their top internal worry for the past nine quarterly Deloitte surveys, but execution risks were cited as the No. 1 worry in the latest poll. While 80% of respondents still pointed to talent among their most worrisome internal risks, execution risks edged it out of the top spot at 81%, indicating that CFOs are slightly more concerned with successfully executing their strategic priorities.
The survey also asked CFOs about the most significant challenges to managing enterprise risk and regulatory compliance, and, overwhelmingly, the top challenge cited was "
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