Quarter 1 2013 has been an optimistic start to the year for CFOs, with the results showing one of the most positive quarters to date since the Deloitte CFO Survey began. Encouragingly, 65% of CFOs indicated that they expect revenues to increase over the next 12 months while operating costs and bank borrowing are set to decline. Perhaps most encouraging is that corporate strategy is now expansionary for 69% of survey respondents.
In the midst of this optimism CFO respondents have indicated that their greatest challenge is managing their individual company’s performance, with a 40% majority. Taking this challenge into account as the role of the CFO expands, it follows that respondents have indicated that they are striving to develop relationships with other senior executives to ensure they are aligned on objectives and decision making policies.
CFOs of listed companies, large private companies and Irish subsidiaries of overseas multinational companies participated in the survey, which took place in March 2013.