Creating opportunity in adversity - Ernst & Young - Greece

In 2009, Ernst & Young held more than 40,000 meetings with senior executives around the globe. We asked them how the downturn was affecting their business, then gathered those insights into Lessons from change. Learn which eight strategic actions companies should focus on now.

Amid signs of economic recovery, we suggest in The future of Finance (pdf, 248.8kb) that CFOs establish and implement a holistic framework that identifies weaknesses and potential improvements, and which helps enable Finance to be more effective, lower costs and help deliver more value to the bottom line.

Governments around the world are fighting the first global recession we've experienced since World War II, and tax measures are playing a major part - 56%, according to recent OECD figures - in the range of stimulus packages being rolled out globally. Tax policy has gone global in a major way, and in this study from Ernst & Young, tax measures in 24 major jurisdictions are analysed, and a key set of common themes are apparent, resulting in both challenges and opportunities for the tax function. Read more in Worldwide fiscal stimulus - tax policy plays a major role.

A comprehensive thought leadership study, the European Attractiveness survey was presented to the World Investment Conference in La Baule on June 3, 4 and 5, 2009 in front of a global audience of decision makers from the public and private sectors. A number of branded national reports, originating from this survey and written, published and promoted by different European countries were also presented during the conference.

Liquidity and cash flow have become more critical than ever in a company’s ability to drive its strategic agenda, yet a recent EY survey found that many companies have not fully considered the impact that cash tax management strategies can have on their financial position. Wherever a company sits on the financial spectrum — from “cash burn” to “cash earn,” tax provides a variety of strategies to preserve, acquire, or maximize cash to support business goals. Read more in this latest report (pdf, 248kb) from Ernst & Young.

What strategic challenges are likely to affect your company in 2009 and beyond? Ten of the most critical risks, including regulatory and compliance, financial shocks, and aging consumers and workforce, are analysed in The 2009 Ernst & Young business risk report: the top 10 risks for global business (pdf, 1.9mb).

This issue of BoardMatters Quarterly, "Managing risk in the current climate" (pdf, 610kb), is dedicated to helping audit committees identify, prepare for and protect against the key risks their companies may face during these strenuous times.

The world is changing more rapidly than ever. Globalization continues its march. The financial landscape is in turmoil, driving increased regulation. "Global megatrends 2009” (pdf, 886kb) presents an Ernst & Young perspective on the most important themes that are likely to play out in the near future, and what we need to think about to prepare ourselves for it.