A new financial crisis before 2024?

2020-02-19 15:06

Summary

 

The results of this survey indicate an existing concern among leading experts over the risk of a future financial crisis. Among the 60 percent who believe a financial crisis will occur within the next five years, there are a few recurring factors viewed as potential warning signals: trade wars, high debt levels, protectionism, and political uncertainty.

However, a recurring view among respondents is that a potential crisis most likely will be less severe in comparison to the last one. Additionally, the belief is that there are factors indicating that companies and governments are bet-ter prepared to handle a crisis this time. 70 percent of respondents believe measures exist that can be implemented now in order to avoid a crisis in the future.

There is also a consensus in terms of believing that auditors have an impor-tant role to fill regarding sustainability – both before and during a financial crisis. 82 percent of respondents emphasize that auditors contribute to companies’ ability to remain sustainable and viable during a financial crisis through quality assurance and ensuring proper financial communication is available.

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