Media Advisory - Changing economic climate affects CPA Canada Business Monitor

TORONTO, Jan. 27, 2015 /CNW/ - Due to the many prominent factors currently affecting the Canadian economy, a news release will not be issued outlining the findings of the latest CPA Canada Business Monitor (Q4 2014).

The results are usually issued quarterly based on a survey commissioned by Chartered Professional Accountants of Canada (CPA Canada). The research draws upon business insights of professional accountants in leadership positions in privately and publicly held companies.

CPA Canada believes that much of the data collected for the most recent survey may not accurately reflect the current thinking of the participants. This would include findings for optimism and pessimism levels along with forecasts for revenues, profits and employee numbers.

The field work was conducted from December 4 to December 19, 2014. After its completion, oil prices continued to plunge, Target Corporation and Sony Corporation announced plans to close their Canadian stores and the Bank of Canada dropped its trend-setting interest rate.

Although the economic landscape changed greatly after the field work was completed, it is interesting to note that economic pessimism among the professional accountants surveyed was already at its highest level since 2011.

Survey highlights are available at cpacanada.ca/BusinessMonitor2014Q4. 

SOURCE CPA Canada

For more information, contact: Tobin Lambie, Principal, Media, CPA Canada, [phone], [email protected], www.cpacanada.ca