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U.S. strikes did not destroy Iran nuclear program, says Pentagon assessment; Dems join GOP to kill vote impeaching Trump over Iran strikes; Health gaps persist for American Indian, Alaska Native Coloradans; Alternative payment models better for WA patients, providers; New CT law ends election agency's independence.

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Some members of Congress are upset about lack of transparency on Iran policy, but House Speaker questions constitutionality of War Powers Resolution, and Fed Chair explains why interest rates aren't being cut.

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Giant data centers powering artificial intelligence want cheap rural land but some communities are pushing back, Hurricane Helene mobilized a North Carolina town in unexpected ways, and Cherokee potters make ceramics that honor multiple generations.

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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