Dive Brief:
- Nearly six out of 10 audit partners (57%) hold a pessimistic view toward the U.S. economy during the next 12 months — a surge of 13 percentage points since May, according to a survey by the Center for Audit Quality (CAQ).
- Seven out of 10 audit partners (73%) expect companies to increase prices and 68% predict that inflation will persist during the next 12 months, CAQ said, describing results from a survey last month of 648 auditors who focus on companies across a range of industries.
- U.S. companies face the strongest headwinds from price pressures, labor shortages and supply chain bottlenecks, survey respondents said. Three out of four auditors identified inflation as the biggest risk to the companies they audit, according to CAQ.
Dive Insight:
The worst inflation in nearly four decades showed signs of slowing last month.
The Consumer Price Index rose 7.7% in…
