Finance departments increase usage of senior-level interims

Accountants may be interested to learn that a recent study by Robert Half International has discovered that nearly 40% of CFOs say their finance teams do not have enough time or resources to satisfactorily support the business.

The study also found that 31% of chief financial officers are reluctant to invest money while the economic climate is uncertain and instead are keeping higher cash reserves.

Robert Half director, Ashley Whipman, said many CFOs are turning to senior-level interim accounting professionals to help manage complex, strategic initiatives and support business growth.

Meanwhile, accountants in Manchester might be considering a move down south after it was revealed that the north-south divide is widening.

PwC said last week that the North East of England, Scotland and Wales have suffered most since the recession with rising unemployment, increased individual insolvency and volatile house prices.

On the other hand, the East of England, London and the South East have coped much better. Even though London has seen worse unemployment rates than a lot of other areas, the financial stress placed on households is less than in other regions.

PwC chief economist, John Hawksworth, said it is becoming increasingly difficult for the government to close the north-south divide. GDP next year is expected to remain at about 1%, consumer spending will stagnate as concerns over the worldwide economy increase and public sector redundancies will cause unemployment to rise.

The East of England and the South East will continue to fare better than the North, the Midlands, Scotland and Wales, he concluded.

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