KPMG convened a cross-industry group of chief financial officers (CFOs) to talk about cost-cutting in the face of a potential recession; the ongoing struggle to attract and retain talent; the impact of the midterm elections, particularly as they relate to taxation issues; and potential climate change reporting requirements.
- In the face of inflation and labor costs, CFOs are focused on expense reduction, particularly in the supply chain.
- Although some CFOs are optimistic that the recession may lessen the allure of the Great Resignation, there is a general acknowledgement that the issues driving the talent shortage are more complex.
- Some CFOs are hoping that layoffs at Big Tech companies will free up IT talent to hire inhouse, while others are turning to automation and other technologies to offset their hiring issues.
- In the aftermath of the midterm elections, CFOs are focused on tax issues, particularly as they relate to bond depreciation and research and development expenses.
- The impending SEC climate-change rules are causing a fair amount of uncertainty, particularly when it comes to meeting deadlines.
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