Economic indicators

Business executives who are also CPAs have sharply reduced their outlook for profits, sales, hiring and the overall economy over the next 12 months, because of the COVID-19 pandemic, according to a new survey by the American Institute of CPAs.

The CPA’s first line of defense is to protect e-tailers and brick-and-mortar shops.

The pandemic has prompted confidence among accountants to fall to its lowest levels on record in all regions of the world during the first quarter of the year.

Most CFOs polled by PwC expressed great concern for their business and 80 percent anticipate COVID-19 will decrease their revenue or profits this year.

More than half of chief financial officers see the potential for a significant impact on their business operations, according to a new survey from PwC.

CPAs who are also business executives are concerned about the potential global fallout from the outbreak.