Careers

View All

Big 4

View All
KPMG building exterior with scissors overlay

Layoff Watch ’26: The King’s KPMG Kindly Asks 600 Auditors to GTFO

We covered this story in yesterday's Monday Morning Accounting News Brief but it's significant enough news to earn its own spot in a separate article as it's a large market…

Read More
Clenched fist

A KPMG Senior Director Got Beat Up By a Guy Who Stars in Reacher

Oh my God it feels like it's 2010 all over again with that headline. Thanks to the algorithm for putting this item in my feed since no one saw fit…

Read More
KPMG building upside down because Australia lol

KPMG Picked an Aussie to Rule Over the Global Empire [UPDATED]

Ed. note: This article was originally published on March 5, 2026. It was updated on March 18 after KPMG made a public announcement confirming Gary Wingrove as Global Chairman and…

Read More
guy with cameras

Deloitte Runs a Photo Competition??

Wait, what is this? Deloitte Italy and Fondazione Deloitte [Deloitte Foundation] are handing out tens of thousands of euros in a photo competition centered around the subject of "proximites." Why?…

Read More
EY building exterior

EY Is Now Paying a $10k CPA Bonus

Anyone in the mood for a bit of good news? Here goes: EY is doubling their CPA bonus for early career new hires who can manage to pass all four…

Read More

News

View All
puppies in a basket

Friday Footnotes: EY Tells Tax to Get Back in the Office; Associates Are Vibe Coding Now | 4.3.26

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you're here, subscribe to our newsletter to…

Read More
KPMG building exterior with scissors overlay

Layoff Watch ’26: The King’s KPMG Kindly Asks 600 Auditors to GTFO

We covered this story in yesterday's Monday Morning Accounting News Brief but it's significant enough news to earn its own spot in a separate article as it's a large market…

Read More
orange and white cat on balcony with daffodil

Monday Morning Accounting News Brief: KPMG Asks Hundreds of People to Go; One Big Beautiful Bill Equals Billable Hours | 3.30.26

Good morning and happy Monday, capital markets servants. I ventured out into the muck to dig up some news for you to start the week. In this news briefYour Services…

Read More
Chihuahua puppy and parent in a patch of sunlight

Friday Footnotes: EY Socks Away a Bunch of Money For Future Fines; Can You Leave at 5 and Still Make Partner? | 3.27.26

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you're here, subscribe to our newsletter to…

Read More
Business handshake

The Top 20 Firm That Kicked Off PE Madness in 2021 and Its PE Firm Announce They’ll Keep Kickin’ It

EisnerAmper (#15 on the INSIDE Public Accounting Top 100 with $1.023 billion in revenue) and TowerBrook Capital announced yesterday that they've completed a continuation vehicle transaction which basically means TowerBrook…

Read More

Technology

View All
Surprised chihuahua

ICYMI: According to This AI CEO You Won’t Have to Go to Work in a Year

Commence to fantasizing about what you'll do with all that glorious free time when you lose your job to AI in 12-18 months because that's the confident prediction made by…

Read More
a RIP tombstone on a laptop keyboard

Another Early AI Accounting Startup Just Bit the Dust

TIL that early AI accounting platform Botkeeper has died. I found out via this CFO Brew article which pointed to a post on Botkeeper's own site. Turns out r/accounting was…

Read More
KPMG exterior building with sign, inverted

KPMG Brings Cheating Into the AI Age By Using AI to Cheat on AI Exams

The image is upside down because Australia. This story sounds like a joke but we assure you it is not. KPMG Australia has expanded KPMG's storied cheating repertoire by being…

Read More
KPMG building exterior with discount sale signs

KPMG Brings AI Talking Points to a Fee Negotiation, Inadvertently Opens a Pandora’s Box Filled With Stingy Clients

As reported by Financial Times on February 6, included in Friday's edition of Footnotes, and widely chuckled at by public accountants both current and former across the world since, KPMG…

Read More
System hacked warning alert

Hackers Set Out to Ruin Tax Season Early For One Old-Ass Firm

'Tis the season. For alleged data breaches, that is. Cybernews is reporting that a Russian ransomware group called Lynx claims to have gotten its hands on a whole mess of…

Read More

Practice Management

View All

Top Remote Tax and Accounting Candidates of the Week | October 16, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

Read More
remote accountants to hire

Top Remote Tax and Accounting Candidates of the Week | October 2, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

Read More

Top Remote Tax and Accounting Candidates of the Week | September 25, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

Read More
tax hiring season

Top Remote Tax and Accounting Candidates of the Week | September 18, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

Read More

Top Remote Tax and Accounting Candidates of the Week | September 4, 2025

Struggling to Find Remote Accounting Talent? We’ve Got You Covered. If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're not…

Read More

Get the Accounting News Roundup

* indicates required
We need this to send you the newsletter.

Quick Reads

View All
person counting money at her desk, piles of papers and calculator

Here Are Tax and Audit Salaries at Top 25, Top 300, and Regional Firms

Recruiting firm Brewer Morris has released its 2025 US CPA salary guide and should you want to read the whole thing you can request it from them here. Perhaps you,…

Read More
Guy with a migraine surrounded by work

Friendly Reminder Not to Work Yourself to Death For This Profession

Saw this on the bird app yesterday and thought its message would be worth passing along what with 20 days remaining until April 15 and nerves as strained as ever…

Read More
sorry we're closed sign in business window

Accounting Firm Abruptly Nopes Out of Tax Season Early (UPDATE)

Ed. note: An earlier version of this article's headline stated the sheriff is investigating. The Alexander County Sheriff's Office informed us they are not investigating, only fielding calls from the…

Read More
an office trash can with paper

This Deloitte Office Has Eliminated Trash Cans at Desks to Make Staff Get Up Off Their Asses

Boston Business Journal wrote an article about Deloitte's new office in Boston and for some reason they chose to lead with this: You won’t find trash cans at the desks…

Read More
screenshot of an IRS system outage warning

The IRS Decided to Troll Tax Pros For 10/15

We realize the decision to run maintenance on IRS systems likely isn't made by anyone who understands deadlines but surely someone who does could inform the IT department of these…

Read More

Sponsored Content

View All

Top Remote Accounting Freelancers: February 3, 2024

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled…

Read More
men juggling on a plain, black and grey

10 Essential Project Management Principles for Accounting Firms

Every accounting firm struggles with project management, with smaller practices that are rapidly expanding taking the brunt of the damage. As your firm adds new clients, takes on more work,…

Read More
Upset stressed woman holding cellphone disgusted shocked with message she received isolated grey background. Funny looking human face expression emotion feeling reaction life perception body language

6 Ways Email is Secretly Destroying Your Accounting Firm

Email: The word itself sounds innocent, doesn't it? Kind of like "snail mail," but faster, sleeker, and without the slimy trail. But don't be fooled—email is secretly a sinister beast,…

Read More
Pink note on blue walll with text written CAN WE TALK , concept of talk openly to improve relationship, listen and share more, for couples or for teamwork

Don’t Grow Your Accounting Firm Out of Business! Break Up With These Unscalable Practices Now

Business growth is always a high priority for accounting firms, especially small-to-midsize practices. Take care, though, because growth can be a double-edged sword. If your firm expands too quickly or…

Read More

Get the Accounting News Roundup

* indicates required
We need this to send you the newsletter.

Grant Thornton to Close Greensboro, NC Office

We’ve received multiple tips informing us that Grant Thornton’s Greensboro, North Carolina office will be closing in the spring after busy season has ended.

Greensboro has approximately 35 professionals in all three service lines although our sources indicate that many tax professionals were laid off late last year in anticipation of the closure. Greensboro currently functions as a satellite of the Charlotte office which houses the support professionals.

What’s not known at this time is whether the office will become virtual, similar to the setup that Ernst & Young arranged for its Greensboro office other whether it will be an outright closure.

We contacted Grant Thornton for comment and had not heard back from them at the time of this posting.

If you’re familiar with the situation in Greensboro and have more information, get in touch with us. We’ll continue to keep you updated as we learn more.

Job of the Day: Moody’s Needs a Senior Internal Auditor

Moody’s needs a senior internal auditor to help keep their internal controls tip-top.

The position requires 3 to 5 years of experience and requires some both domestic and international. Check out more details for this position after the jump.


Company: Moody’s

Title: Senior Internal Auditor

Location: New York

Minimum experience: 3 years

Responsibilities: Plan and execute financial, operational and SOX audits of Moody’s ratings and analytics businesses in accordance with the internal audit plan and departmental & the Institute of Internal Auditors standards; Develop a complete understanding of Moody’s ratings and analytics business, current accounting, compliance and operating policies; Assist Internal Audit management with defining and updating the annual and long-range internal audit programs based on associated financial, operating and compliance risks;

Execute internal audits with the following responsibilities: Plan and communicate the detailed audit scope; Supervise & develop staff auditors; Oversee 3rd party internal audit professionals; Ensure timely completion of audits; Communicate all aspects of audit results / findings timely from the closing meeting to the final audit report; Assist with updating Internal Audit policies and procedures based on changes within the profession.

Qualifications: Bachelor’s degree in Accounting with approximately 3-5 years experience; A combination of Big 4 Accounting firm and private industry experience is preferred; CPA required; Ideal candidate will have an understanding and experience of a global organization and a strong knowledge of GAAP; Ability to travel 20% (domestic & international); Proficiency in financial system is a must – PeopleSoft Financials highly desirable.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

How to Charge the Client: Killing the Billable Hour with VeraSage’s Ron Baker

I’ve long wanted to track down VeraSage’s Ron Baker and pick his brilliant brain; at last, JDA had the opportunity to steal a few minutes with the man credited for killing the billable hour.

In his 15-some years crusading against the ridiculous measurement of “time” as a performance gauge, Ron has made quite a few steps in the right direction. Seven to ten percent of 90,000 firms have moved away from time sheets and toward “value pricing”, with 1,000 or so firms eliminating the billable hour completely. While he admits it’ll be a cold day in hell when the Big 4 follow suit, he’s encouraged by the momentum.


“There is a change and it is coming from customers,” he says, “[unfortunately] the billable hour has survived many recessions.” The rigid “that’s how it’s always been” structure of public accounting, specifically, doesn’t seem to be taking the idea well. “They’d rather be precisely wrong than approximately right,” he says of major accounting firms trapped in the billable hour vice.

Encouraging value pricing in pay structures is a slow process, he says, equating the movement to that of Germ Theory in the 1800s. It was hundreds of years from the time “contact contagion” was theorized to the time it was generally accepted in medicine and eliminating the antiquated pricing structure of employee incentive won’t go down without a fight either.

Billed as “a think tank dedicated to promulgating and teaching Value Pricing, Customer Economics, and Human Capital Development to professionals and businesses around the world,” VeriSage seeks not to revolutionize business but improve it.

“You don’t let your surgeons pierce ears,” says Baker, meaning value pricing implies a company’s best soldiers will be dispatched to serve their respective battalions. In simpler terms, employees are paid results, not for how long they’re sitting in a chair. And in an uncertain economic environment, aren’t results what matter above all else? I’m not sure it could be much simpler.

Baker knows he’s got his work cut out for him but yours truly is 100% behind the idea. As a person who can tear up in one hour what five people can’t even accomplish in two, I get it. Boy do I get it.

Lucky for those who choose to accept what Ron is selling, he’s also a brilliant business mind. Knowing that Michelle Golden may have potentially criticized his website, he chose instead to hire her as a consultant. Genius! (Disclaimer: JDA loves Michelle Golden and isn’t just saying that because she doesn’t want to get torn up on her website – her “Accounting Blog list” is the most comprehensive I’ve ever seen.) She sits on their Board so she gets it. Excellent!

Want more JDA? Check out all of her posts for Going Concern here.

Florida CFO: Office Supply Czar will Oversee Paper Clip Exchange

Of course! It didn’t even occur to us that Florida CFO Alex Sink would be far too busy running for Governor to oversee the new CFO Depot. Accordingly, as is the rage in politics these days, there will be a Office Supply Czar to overlook this little treasure of savings.

Not only does the video below inform us of this new critical position in the Florida government, the exact number of paper clips that were counted is made known: 402,419.


When you think about it, the appointment of a czar is a natural progression in the bureaucracy. If there is a specific problem (e.g. an overabundance of paper clips) appointing one individua to get on the problem like stink on a monkey is the best way to address said problem. The creation of a committee, while tempting, has run its course. Why appoint a team of 10 – 12 individuals to talk about a problem when you can get one person (with the appropriate qualifications) to make the solving of the problem their sole purpose for being on Earth?

The CPA’s 12-Step Program For Winning New Business

Avi Dan is President & CEO of Avidan Strategies, a New York based consultancy specialized in advising professional service companies on marketing and business development. Mr. Dan was previously a board member with two leading advertising agencies and managed another.

CPAs have made great strides in the art and science of sales and marketing in recent years but the profession still has a long way to go in adopting robust business development practice. Many firms barely weathered the storm of 2009, but a celebration may be premature. 2010 is likely to be as tough, and perhaps even tougher as clients cut back on expenses. Smart firms are reviewing their marketing plans and planning ways to generate new business in a weak economy.

That is the first step – make sure that you have an effective and comprehensive plan, including cost projections, strategies and person responsible for each. Here is a twelve point checklist for an effective sales plan:

• Cultivating business from current clients is the low hanging fruit. They are already pre-disposed toward you. Just ask them for more business.

• Even resumptions from formerly-lost clients should be considered especially if the loss was not performance relation but for objective reasons, such as a merger.


• Emphasize cross-selling in your firm by getting all senior team members involved in the sales effort and make sure that client/industry knowledge is shared effectively.

• Public speaking on specific topics related to your target prospects. Good old-fashioned word of mouth is still the best new client leads. “Cascade” the speeches into white papers and articles to expand their impact.

• Simply asking clients for referrals of specific types of prospects/assignments among their friends and professional collegues.

• Qualify prospects before investing time with them. Be selective about setting up an appointment on the initial contact and determine valuation of prospect relationship to assess if they are worth pursuing.

• Consider replacing less profitable, time consuming, and unappreciative clients with clients that are a better fit with your objectives as a firm.

• Conduct a “gap analysis” and focus on specific targeted niches: high quality, profitable prospects, and develop a case as to why your experience and expertise is relevant.

• Focus on growth industry with good long-term potential of growth.

• Use relationships with spheres of influence: referrals by attorneys and bankers who reach across companies.

• Use the right people for marketing and prospecting. Not every one is comfortable selling.

• Focus relentlessly on relationship building: aggressive involvement in trade associations and the community; conduct seminars for clients and prospects; cultivate the press including the prospect’s trade press.

To be really successful, you must sell your services. You must generate leads and convert them into paying clients. And the recent Great Recession calls for a significant rethinking of sales and marketing strategies.

While the market for professional services continues to grow, so does the number of firms and individuals competing for that business. In other words, to really succeed means to differentiate yourself from others.

PwC Accepts Responsibility for Losing Personal Records of Alaska Public Employees

In Alaska news that doesn’t involve Sarah Palin, it emerged late last week that PwC lost the personal records of 77,000 public employees and retirees who participated in the State’s Public Employees Retirement System and the Teachers Retirement System in 2003 – 2004.

Alaska had engaged P. Dubs as expert witnesses in a lawsuit against its former actuary Mercer and turned the data over to the firm for analysis during the discovery process. PwC discovered that the data vanished in December and PwC notified the state last week (nobody wants to share bad news during the holidays).


PwC has accepted responsibility for the whole mess and has agreed to pay for identity theft protection, credit monitoring, and security freezes (if necessary) for the 77,000 employees affected. The firm will also reimburse any losses suffered by any of the participants.

The firm must have realized that there was little upside to disclaiming responsibility, as this would inevitably lead to a sentence in a Sarah Palin speech that involved PwC opposing God, guns, and regular Americans. Populist rancor would ensue and the firm would be run out of Alaska within a week (give or take).

This is the second SNAFU for PwC in the last month. The firm issued a press release on January 15th announcing that someone was sending bogus PwC checks to random people advising them that they had been selected to be secret shoppers. It’s not clear as to whether this is a sign of the wheels coming off or simply bad luck. We’ll keep you informed of any additional slip-ups.

State Acts Promptly to Safeguard Alaskans Against Potential Identity Theft [State of Alaska Department of Law]

Accounting News Roundup: Obama’s Budget Proposal; Davos Wraps Up; FINS’ Top Tax Blogs

Obama Offers $3.8 Trillion Budget With Focus on Boosting Jobs [Bloomberg]
The $3.8 trillion budget calls for an additional $100 billion in stimulus spending and would increase the federal deficit to $1.6 trillion. “The $1.6 trillion deficit forecast for the current year represents 10.6 percent of the U.S. gross domestic product, making it the biggest by that measure since World War II, according to administration figures.”

The most impressive part is that the WH blew all the other forecasts out of the water, “The White House deficit projection exceeds other forecasts. The Congressional Budget Office has forecast this year’s shortfall at $1.35 trillion. The median of 39 analysts survey by Bloomberg News is for $1.37 trillion this year and $1.10 trillion next year.” Look! We’re going to dig the hole way deeper than anyone thinks!

As we mentioned last week, the spending freezes that will dig us out of said hole that were proposed last week would aim to cut that deficit to less than $1.3 trillion in 2011 and $828 billion in 2012; just in time for the election.


Leaders in Davos Admit Drop in Trust [DealBook]
After all the chocolate, blondes, and awkward interviews, the other thing that is pretty obvious is that no one knows what the hell is going to happen, “the one certainty seemed to be continued uncertainty.” It’s nice to be confident about something.

Plus, everyone pretty much agrees that if you’ve got even a sliver of power in government or business, you are not to be trusted. Ordinarily this wouldn’t be a news flash, what with the near financial apocalypse and all but Tim Flynn said we were moving towards the green light of trust. Is this not the case? Did TF just figure, “I’m out of here, I’ll just say whatever I feel like.”? One can’t help but wonder if he’s shooting from the hip a little bit. Oh well; all in all, good times. Good Davos times. See you next year (right?)!

The Top Five Tax Accounting Blogs [FINS]
For those of you that are inclined towards the tax side of the house, FINS presents its top five picks for wonky tax goodness that you should be reading if you’re not already. TaxProf Blog, The Tax Policy Blog and Don’t Mess with Taxes are three that we are intimately familiar and a couple we just discovered: Tax Watch and A Taxing Matter.

Big 4 at Davos: Jim Quigley is Long Dubai

He’s not really sure how much is debt (Jim, it’s a metric asston) is being restructured but Quigs believes that Dubai will come out of it a-okay.

Black holes aside, Quigs also wants to see global accounting standards which puts him firmly in the camp with the other half of Jim-squared and Knight of Accounting David Tweedie.

We’re not sure when this interview was done but could someone get JQ a cup of coffee or something? The guy seems a little stiff. Plus, no red light/green light of trust from Fox Business? They have got to start getting more creative over there.

The IRS Is Making “Thousands” of Visits to CPAs During Tax Season

Apparently the IRS is not one for timing. Earlier this month the Service announced that if you get paid to crank out 1040s, your life as you know it is more or less over. Well, at least a little more inconvenient. Okay, it’s hella-inconvenient.

Back when the new regulations were announced the Service let it be known that since it can’t get these new regulations implemented for 2010, it was still stepping up its efforts for getting all up in tax preparers’ shit.


The first step being to be to send 10,000 letters to paid preparers nationwide letting them know that they need to be on their A-game. The letters were intended for, “preparers…with large volumes of specific tax returns where the IRS typically sees frequent errors,” and that they should be “vigilant” for errors related to “Schedule C income and expenses, Schedule A deductions, the Earned Income Tax Credit and the First Time Homebuyer Credit.”

Well then. That should cover about EVERY TAX PREPARER IN THE COUNTRY.

Anyway, the IRS is following up the 10,000 “Dear Joe Kristan” letters with phone calls to set up sit-downs with “thousands” of preparers. According to William Stromsem, who wrote a piece over at CPA2Biz, these are “urgent” calls:

In at least one case, the IRS called a practitioner at home and spoke with the spouse by name, asking for a response within three hours and then calling back before that time was up. Another practitioner, who was unable to schedule a meeting during a busy time was threatened with having the refusal passed up the line to a supervisor.

The piece goes to tell us that the visits will be performed in the coming weeks and months and may last up to 3 hours. Does anyone see a problem with this yet?

These chats are designed to be friendly reminders of all the pitfalls out there in tax preparer land; not a compliance visit (but they will remind you of the penalties that can be assessed for any malfeasance). Regardless of the pleasant intentions, the timing has irked CPAs to no end and we can’t say that we blame them. Hope no one is expecting an apology. And one more thing, we’d like to know how the Commish’s CPA feels about this whole thing. Just for fun; he should get a letter.

IRS ‘10,000 Letters’ Program Angers CPAs [CPA2Biz]

Five Questions with Francine McKenna

Our contributor Francine McKenna takes her job very seriously. When we asked her to participate in our little exercise she insisted that all her answers be as long of some of her posts but we managed to explain to her that none of these questions would be related to the Big 4.

She backed down.

As you know, Francine is the and Founder and Managing Editor of Re: The Auditors and a furious Tweeter. Prior to launching RTA, Francine worked for more than twenty years working for in consulting and professional services here in the States and abroad.

Why should you accountants read your blog?
Do they really have something more stimulating to do?


If someone had to read just one post of yours which one would it be?
Too Few To Fail Or Something More?” tells you everything you need to know about how the current regulatory regime works against the shareholder and for the perpetuation of the myth of the current audit firm business model. It’s my first post with original reporting, it’s where I coined the term “too few to fail,” and still one of my most popular.

Who is your favorite blogger?
So many favorites now, but the guy that told me blogging could make me famous is Mr. Clublife, the guy who stands on the box at your favorite club in NYC.

Best thing about blogging for accountants?
They are, for the most part, too introverted to complain or harass me too much.

The biggest issue facing accountants/auditors today is…
They’ve, for the most part, forgotten that their client is the shareholder and that, as professionals, they owe their first professional duty to that client, not their firms, not their partners, not their colleagues and not the management of the companies they audit.

FEI Survey: Half of CFOs Don’t Plan to Replace Laid Off Positions

This story is republished from CFOZone, where you’ll find news, analysis and professional networking tools for finance executives.

This is not the news you hear when there is talk of “recovery.”

Plus, it’s bad news for President Obama. The morning after our leader joined the rest of Americans and finally acknowledged that jobs are the most important issue facing the country, chief financial officers signaled they don’t expect the employment picture to improve anytime soon.

Sure, 62 percent of the 371 corporate CFOs who participated in the latest quarterly survey conducted by Financial Executives International (FEI) and Baruch College’s Zicklin School of Business said they do not plan any layoffs for this year. Big deal. Most companies have already gotten around to this cost-cutting measure. In fact, 77 percent of those surveyed said they already cut rank and file during the economic downturn.


More significantly, nearly half of the CFOs that previously laid off people said they do not plan to replace those positions. Rather, they figure to deploy other strategies to increase production or output. For example, they plan to reinstate overtime for existing employees, turn to outside consultants, hire part-time employees, and/or make current part-time employees full time before rehiring new full-time employees.

Just 44 percent of the total surveyed said they anticipate an increase in hiring at their companies. On the other hand, about one-quarter of the finance execs expect to cut back on hiring. Not too encouraging, huh?

What’s more, non-cash payments seem to be high on the list of anticipated cutbacks. For example, executive perks were cited more than any other area for potential cutbacks (37.2 percent). Benefits in general ranked third (31.5 percent).

“As far as the new normal is concerned, efficiency is the name of the game,” Marie Hollein, CEO and President, Financial Executives International, said in a press release.

CFOs may become more confident later in the year, however. Virtually half of the respondents to the survey said they believe indicators such as bond yields, mortgage interest rates, U.S. unemployment rate and rising GDP will collectively improve and result in the start of a recovery in the U.S. economy in the second half of this year. Another 22 percent don’t expect these conditions to materialize until the first half of 2011.

In general, however, CFOs indicated they were more optimistic about the U.S. economy in the fourth quarter survey than they were three months earlier.

They are also more optimistic about their own company’s financial prospects than they were in the third-quarter survey.