Tough until 2014, say U.K., African and Asian CFOs.

• Author: Heffes, Ellen M.
• Position: BUSINESS - Survey - Brief article

A survey by the Association of Chartered Certified Accountants (ACCA) and research company CPRI Group finds that as a result of the current global economic downturn, businesses will find it tougher to raise finances, be less likely to give credit and will place greater demands on qualified accountants in five years' time.

Chief financial officers, partners and senior accountants in Europe, Africa and Asia were asked questions on expected business changes by 2014.

The report, Accountancy: The Future Outlook, found that CFOs are very concerned about the future financial stability of clients and customers: 87 percent believe businesses will be cautious in giving credit. They expect the subprime mortgage crisis and...