Blogs & Comment

Chartered accountants feeling gloomy

Lets hope all of this doom and gloom means were at some kind of market bottom. The Canadian Institute of Chartered Accountants and the Royal Bank of Canada have just released a major report that finds senior level chartered accountants in this country are feeling about as down as you can when it comes to the economy. According to the report, the CAs polled think that profit and revenue levels will decline dramatically through 2009 and that their levels of optimism are at rock bottom. The most interesting stat: Only two per cent of the executives polled expressed optimism about the economy in 2009. That’s down sharply from the 63 per cent who expressed optimism a year ago. I think that sums up nicely the extent of the drop off in the real economy that weve seen over the last couple months. A glimmer of hope would be nice at some point.