Spring 2009 Survey of Senior Financial Executives

Grant Thornton LLP Survey of Senior Financial Executives

Twice a year Grant Thornton LLP conducts a survey of senior financial executives across the United States, once in the spring, and again in the fall. Questions explore a wide range of topics, from the state of the economy, to specific accounting and tax pronouncements, to issues impacting boards and directors. The Fall 2009 survey was conducted from September 21 through October 2, 2009, with 846 U.S. CFOs and senior comptrollers participating.

From the Fall 2009 survey:

Optimism is on the rise for respondents in Grant Thornton LLP’s Survey of Senior Financial Executives. More than three-fourths believe the recession will taper off by the end of this year, and half think the economy will improve over the next six months, double the percentage of those who felt that way in our March 2009 survey. CFOs might be right about the timing of the recovery. Employment – a lagging economic indicator – seems to be stabilizing for respondents. More than half (54%) expect their headcount to remain the same (compared with 43 percent who said this in March 2009). The number of those planning to decrease headcount dropped almost 20 percent.

Although the slight uptick in those who plan to increase hiring is promising, the road ahead is a long one. Many CFOs are still looking for ways to tighten their belts, and bonuses, health care benefits and 401(k) matching contributions find themselves on the chopping block. Nevertheless, the percentage of CFOs who say they are more worried about their organizations than they were at this time last year dropped from 40 percent in March to 24 percent in the most recent survey.

Download the survey report.

Grant Thornton's Ed Nusbaum discusses findings from the Fall 2009 Survey of Senior Financial Executives

10/16/09: Ed Nusbaum, CEO of Grant Thornton, appeared on FoxBusiness to discuss the economy, employment and going concerns results from Grant Thornton's Fall 2009 Survey of Senior Financial Executives.

To access press releases presenting selected results from the Fall 2009 survey, use the links below.

10/8	National survey of senior financial executives finds only 1 in 4 plan to increase hiring in next 6 months
10/19	National survey of senior financial executives finds majority to reduce bonuses
10/20	Despite some optimism Grant Thornton LLP study finds more than one-third of manufacturing CFOs predict recession won't end until second half of 2010
10/22	Nearly three-quarters of senior financial executives say financial statements too complex for investors
10/26	40% of U.S. senior financial executives don't want IFRS to replace GAAP
10/29	71% of senior financial executives say that FASB should set U.S. accounting standards, not IASB or U.S. Congress
10/29	Only 26% of financial services companies plan to increase hiring in next six months and nearly half plan to reduce bonuses
10/29	38% of health care organizations surveyed will increase hiring
11/2	Only 11% of not-for-profits plan to increase hiring in next six months and half plan to reduce bonuses
11/3	Only 12% of real estate companies plan to increase hiring in next six months and nearly two-thirds plan to reduce bonuses
11/3	Only 20% of financial institutions plan to increase hiring in next six months and more than half plan to reduce bonuses
11/4	Only 22% of transportation companies plan to increase hiring in next six months and more than half plan to reduce bonuses
11/5	88% of senior financial executives believe positions of CEO and chairman of the board should be separate
11/16	Majority of senior financial executives expect state taxes to increase