New Survey of Financial Execs Shows Short-Term Economic Optimism Tempered by Long-Term Concerns

Feb. 2, 2011 - PRLog -- Survey highlights:

•   58% of respondents are optimistic about the economy for 2011.
•   40% expect the U.S. economy will get back to a strong growth trend within two years, but 41% think it will be longer.
•   61% have a higher level of economic optimism than they did a year ago.
•   55% report uncertainty about whether the new financial regulatory policies are somewhat or significantly affecting their business decision-making, including investments in new projects and hiring.

“The ‘UHY Advisors Survey of Financial Leaders’ shows us that the optimism is back, but it’s balanced by the reality that our economy has a long way to go before it’s strong again,” says Frank Fenello, managing director for UHY Advisors in the Southeast.  “It is vital that companies learn how to operate more efficiently in this new economic reality, from operating efficiencies to more effective tax strategies.”

The Financial Leaders Seminar is a quarterly half-day seminar offering insightful professional training and networking for high-level financial executives.  At the fall 2010 event, senior financial experts provided C-level insight to the almost 300 attendees.

Financial executives attending the firm’s Financial Leaders Seminar (FLS) in November 2010 participated in the survey.  The FLS features timely intelligence from senior finance leaders. It allows UHY Advisors’ clients to gain new insights, learn new skills and build new professional contacts, all while earning CPE credits.

Nationally, UHY Advisors is one of the top 20 professional services firms specializing in business consulting and tax services to public and private companies in the Fortune 1000 and middle market. The Atlanta Business Chronicle recently ranked UHY Advisors among the city’s Top 25 Accounting Firms.

UHY Advisors continues to grow in the Southeast.  The firm recently launched two new practice areas, Management Consulting and Tax Services, and added more than a half dozen executives to its Atlanta-based team.  The growth in business from major companies based in the southeast stems from UHY Advisors’ unique services, resources not offered elsewhere in the marketplace.  The new offerings are enabling UHY Advisors to better serve its existing clients as well as increase its footprint in the region.

About UHY Advisors

At UHY Advisors, Inc. (www.uhy-us.com) we deliver professional financial, tax, and business consulting services to mid-sized and larger companies we refer to as the dynamic middle market.  As professionals we are constantly evaluating opportunities to propel incremental growth, avoid financial pitfalls, and reduce costs.  We call our philosophy “The Next Level of Service.”  Our clients tell us it’s what sets us apart.  UHY Advisors, Inc. is one of the Top 20 professional services firms as ranked by Accounting Today.

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors” from offices across the United States.  UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms.

UHY LLP is a full service national accounting firm with international resources and a broader range of services that include: SEC audits, internal audit and Sarbanes Oxley reporting as well as turnaround and transaction services. These additional services have been part of the growth of UHY and its commitment to meet the demands of middle market clients. UHY LLP is a licensed independent CPA firm that performs attest services. UHY Advisors, Inc. and UHY LLP are independent U.S. members of Urbach Hacker Young International Limited.

UHY Advisors Survey Summary

When do you think the U.S. economy will get back to a strong growth trend?
•   16% - within one year
•   40% - within two years
•   41% - it will take more than two years

Are you optimistic about the economy for the coming year (2011)?
•   58% - yes
•   42% - no

What is your optimism level compared to a year ago?
•   61% - higher
•   27% - no change
•   12% - lower

How much do you believe uncertainty about the new tax policy is affecting your company’s business decision-making (investments in new projects, hiring, etc.)?
•   18% - not at all
•   39% - somewhat
•   16% - significantly
•   27% - don’t know

How much do you believe the new financial regulatory reform bill will impact your business?
•   12% - not at all
•   45% - somewhat
•   15% - significantly
•   28% - don’t know

Are you concerned that the new financial regulation will limit your business’ revenue potential?
•   15% - yes
•   47% - no
•   38% - don’t know

Do you think the new financial regulations could help your company’s performance?
•   6% - yes
•   52% - no
•   42% - don’t know

Do you believe the financial reforms went far enough?
•   29% - yes
•   21% - no
•   50% - don’t know

If you answered “no” to the previous question, in which areas does the reform bill fall short?
•   50% - mortgage underwriting
•   13% - bank capital requirements
•   31% - private equity and hedge fund investments
•   63% - derivatives
•   6% - state pre-emption
•   38% - consumer protection
•   25% - other

Contact: Mitch Leff, (404) 861-4769, mitch@leffassociates.com