Two-thirds of Irish firms plan to hire staff next year as a survey of chief financial officers showed increasing optimism about the outlook for Irish business.

The RSM Farrell Grant Sparks survey found that 91 per cent of “traditionally cautious” chief financial officers (CFOs) believe their business is in a good position to capitalise on an expected economic upturn in the fourth quarter and next year.

The survey found that 73 per cent of CFOs were optimistic about the Irish business environment, saying that they see an improvement in their business due to the upturn in the economy.

More than half, or 54 per cent, said they had opportunities for employment in their companies while two-thirds, or 66 per cent, expect to hire next year.

Just over half believe the recent budget will support business but 82 per cent said that the Strategic Banking Corporation of Ireland will be invaluable to small firms.

In other findings, the survey showed that only 40 per cent of finance professionals use cloud applications as part of their finance function, which is relatively low by global standards.

Two-thirds of finance professionals do not believe that the introduction of Ireland’s new financial reporting framework, which includes FRS 102, will significantly impact their business.

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