Execution risks to strategies and/or transformation topped CFOs' list as their most worrisome internal concern, edging out talent risks after nine successive quarters, according to Deloitte's "CFO Signals Survey 2Q 2023.".
Five things to know:
1. Economic/financial market risks (81 percent), geopolitical risks (57 percent), and cyber risks (56 percent) topped CFOs' list of most worrisome external concerns.
2. Fifty-four percent of CFOs indicated that their CEOs are asking them to focus on cost reduction while 40 percent say their CEOs want them focused on strategy/transformation.
3. CFOs' optimism for their companies' financial prospects dropped to 30 percent from last quarter's 32 percent.
4. The proportion of CFOs saying now is a good time to take greater risks dropped to 33 percent from last quarter's 40 percent.
5. Growth expectations for revenue rose to 4.9 percent from 4.4 percent, while growth expectations for earnings dropped to 4.4 percent from 5.4 percent.
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