TORONTO, June 7, 2013 /CNW/ - Minimal growth in employee numbers is
anticipated with only a one per cent gain forecast by the executives
surveyed for the latest CPA Canada Business Monitor (Q2 2013).
The survey of professional accountants in leadership positions found
that 40 per cent of the respondents expect employee numbers at their
company to increase in the next 12 months. Thirty-seven per cent of the
respondents anticipate no change and 21 per cent expect a drop. The
outlook is essentially unchanged from the first quarter of the year.
"Any anticipated growth in employee numbers is welcomed," said Kevin
Dancey, FCPA, FCA, president and CEO, Chartered Professional
Accountants of Canada.
There is no movement when it comes to optimism about how the Canadian
economy will perform over the next 12 months. In both the first and
second quarters of this year, 26 per cent of those surveyed expressed
optimism about what lies ahead for the economy.
Most respondents (61 per cent) remain neutral about the prospects for
the Canadian economy while just 13 per cent are pessimistic.
The state of the U.S. economy is viewed as the strongest challenge to
economic growth in Canada. Forty-two per cent of respondents listed it
as the number one challenge, well ahead of uncertainty surrounding the
Canadian economy (16 per cent) and consumer confidence (12 per cent).
"Lingering economic uncertainty, whether it be in the U.S. or at home,
is affecting how the respondents feel about the Canadian economy and
the prospects for their own company," noted Dancey.
Company optimism is basically unchanged. Almost half (47 per cent) are
optimistic about how their company will perform over the next 12
months. Forty-six per cent were optimistic in the first quarter of the
There are positive projections for revenues and profits emerging from
the second quarter survey. Sixty-two per cent of respondents expect
their revenues to increase in the next year and 59 per cent are
forecasting an increase in profits.
The CPA Canada Business Monitor is issued quarterly, based on a survey commissioned by CPA Canada. The report draws upon business insights of
professional accountants in leadership positions in privately and
publicly held companies.
For the Q2 2013 study, emailed surveys were completed by 322 of 4,337
identified by CPA Canada as holding senior positions (CFOs, CEOs, COOs
and other senior executive roles). The response rate was 7.4 per cent, with a margin of error associated
with this type of study at ± 5.5 per cent, with a confidence level of
95 per cent. The survey was conducted by Harris/Decima Inc. from May 7
to May 29, 2013. A background document is available online at www.cica.ca/businessmonitor.
About CPA Canada
CPA Canada is the national organization representing the Chartered
Professional Accountant (CPA) profession in Canada. The Canadian
Institute of Chartered Accountants (CICA) and The Society of Management
Accountants of Canada (CMA Canada) created the organization on January
1, 2013, to support unification of the Canadian accounting profession
under the CPA banner. CPA Canada is responsible for providing services
to CAs and CMAs on behalf of CICA and CMA Canada as well as to CPAs and
CGAs participating in the unification effort. CPAs will serve the
public interest across all sectors of the economy with integrity, sound
ethical practices, disciplined regulation and proven strategic
management and financial expertise. Accounting bodies representing
almost 90 per cent of Canada's professional accountants are committed
to unification or have already merged under the CPA banner.
SOURCE: CPA Canada
For further information:
or to arrange an interview, contact:
Tobin Lambie, Principal, Media