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RFK Jr. taps eight new members for CDC's vaccine advisory panel; CO communities to join national 'No Kings' protests Saturday; End of hospital emergency abortion care rule will affect rural KY women; LIHEAP cuts could put lives at risk in rural AL, advocates warn.

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White House says there will be more ICE raids, as protests spread across the county. California Gov. Newsom says democracy is at a crossroads, and Elon Musk says he 'regrets' social media posts about President Trump.

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EV charging stations are harder to find in rural America, improving the mental health of children and teachers is the goal of a new partnership in seven rural states, and a once segregated Mississippi movie theater is born again.

Survey: Election poses threat of business disruptions

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Thursday, October 31, 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 added 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 said labor shortages are no longer a priority among economic risks as employers seek to upskill workers and increase compensation. Still, layoffs and decreasing workplace flexibility remain top strategies for companies to improve their bottom line.


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