CPAs Trust Their Organization - Not the Economy

Mar 4th 2008
Share this content

By Dave Tate, CPA, Esq. - I read that CPAs are pessimistic or very pessimistic about the economy over the next twelve months, according to a new AICPA survey of CPAs who are senior financial executives. Pessimists outnumbered optimists for the first time since the AICPA began conducting the annual survey in 2005, and they did so by a five-to-one margin. That is a big margin. However, the survey also indicates that the CPAs were more positive about their own organizations.

There sure is a lot of negative news out there. I have found that unsupported pessimism causes unnecessarily negative results, as unsupported optimism tends to cause more positive results. However, in all situations the results are better when people stick together, working for overall improvement and a common goal.

Your thoughts for improvement and a common goal? For example, I read regularly that significant improvements are around the corner for hybrid vehicles. I, for one, cannot wait for a practical, reasonably priced hybrid that gets 40 – 60 miles electric only, or for the hydrogen cell vehicle that runs long distance and is relatively quick to re-fill. Both of those would be big improvements over what we have now--and we seem close to getting there.

Dave Tate, Esq. (and CPA)
Litigation, Advising & Mediator
[email protected]

AccountingWeb Blogger,

CalCPA Financial Leadership Forum Advisory Panel member,

AICPA CPA Ambassador,

Author of the CEB Audit Committee Chapter for Advising and Defending Corporate Directors and Officers,

The Institute of Internal Auditors,

One-hour presentations available on the following topics:

-Satisfying the Employer’s FEHA / ADA Reasonable Accommodation Interactive Process for Employees with Physical or Mental Limitations (Disabilities).

-Audit Committee Responsibilities and Functions, Risk Management and Compliance Processes, Performance Evaluation, and Interactions with Others.

-Trustee Responsibilities and Beneficiary Rights.

-The Legal Process for Officers, Management, Directors and Accountants.

-Preventing, Spotting and Responding to Financial and/or Physical Elder Abuse.

* * * * * * *


Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.