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Wednesday, December 11, 2024

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Ohio's milestone moment for women in government; Price growth ticked up in November as inflation progress stalls; NE public housing legal case touches on quality of life for vulnerable renters; California expert sounds alarm on avian flu's threat to humans, livestock.

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Debates on presidential accountability, the death penalty, gender equality, Medicare and Social Security cuts; and Ohio's education policies highlight critical issues shaping the nation's future.

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Many rural counties that voted for Trump also cast ballots against school vouchers and to protect abortion rights, Pennsylvania's Black mayors are collaborating to unite their communities and unique methods are being tried to address America's mental health crisis.

Survey: Election outcome will impact AR businesses

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Friday, November 1, 2024   

A new survey of public company audit firms reveals businesses are concerned the upcoming election could affect their financial performance.

The Center for Audit Quality found more than 60% of roughly 1,200 audit partners surveyed worry about potential disruptions.

Julie Bell Lindsay, CEO of the center, said few companies are adjusting their business strategies.

"It suggests that while businesses expect some market turbulence and some uncertainty, they feel equipped to navigate through that," Lindsay explained.

Delta Air Lines recently said election-related uncertainty would affect its fourth quarter revenue as consumers hold off on discretionary spending. Lindsay pointed out geopolitical concerns also remain a top risk factor for businesses, as conflicts in Ukraine and the Middle East continue to affect the global economy.

Despite ongoing resilience, Audit Partners' outlook for the economy over the next year is only neutral, with most believing a recession is likely on the horizon. Lindsay noted audit partners are watching for potential indicators, including recent federal rate cuts, a possible government shutdown and a fluctuating labor market.

"They also continue to see that inflation could be an ongoing concern over the next twelve months," Lindsay reported. "I will say that the audit partners in our surveys have been pretty accurately predicting what inflation is going to do."

Lindsay emphasized top priorities for businesses in 2025 remain cost management, improved financial performance and growth. She added layoffs and decreasing workplace flexibility remain top strategies companies use to improve their bottom line.


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