Accounting | October 21, 2026
Accountants Took Cautious Stance in Q3, But Global Economy Proving Resilient
Confidence among accountants globally fell slightly in the third quarter, but despite the negative impacts from the conflict in the Middle East, data points to a resilient global economy, according to a new report from the ACCA and the IMA.
Confidence among accountants globally fell slightly in the third quarter, but despite the negative impacts from the conflict in the Middle East, data points to a resilient global economy, according to a new report from the Association of Chartered Certified Accountants and the Institute of Management Accountants.
The ACCA and the IMA say its Global Economic Conditions Survey is the largest regular economic survey of accountants around the world, in both the number of respondents and the range of economic variables it monitors.
Fieldwork for the Q3 2026 survey took place between Sept. 1 and Sept. 17, gathering 699 responses: 478 ACCA members and 221 IMA members.
While accountant confidence is higher than the near-record low in Q1 amid the outbreak of the Middle East conflict, it remains in the low range—a place where it has been since late 2024. This is likely in part due to the uncertain and unpredictable global economic backdrop, which has increasingly become the “new normal” operating environment for firms, the report says.
“This continued caution among accountants likely reflects the impacts from geopolitical risks and tensions, major changes in trade policy, country-specific challenges, and rising political polarization, which have created a highly uncertain and unpredictable operating environment for firms,” the report says. “Unsurprisingly, economic pressures and geopolitics remained the top risk priorities for accountants globally in Q3.”
Confidence did improve among CFOs but remains quite low by historical standards. Twenty-eight percent of CFOs ranked economic pressures as their top risk priority, followed by 25% who chose geopolitics.
The other key indicators, however, remain consistent with a resilient global economy, the ACCA and the IMA say. The Global New Orders Index improved and is just above its historical average and broadly similar to other readings in the aftermath of Russia’s invasion of Ukraine. There were also small gains in the Global Capital Expenditure and Employment indices, although both remain below series averages. The artificial intelligence boom continues to provide major support to global growth and stock markets.
Downside risks are growing though, amid the renewed rise in energy prices and inflation in recent months, large increases in government bond yields, and tighter monetary policy. Cost pressures remain a major challenge for firms—almost 70% of surveyed accountants globally reported increased operating costs in Q3—down from Q2, but significantly above the series average. Eighty-two percent of CFOs experienced higher costs, barely lower than in Q2. Meanwhile, almost 50% of respondents expect interest rates to rise in their country over the next three months, up from 42% in Q2.
