Even by recent standards, 2026 has been a geopolitical and economic rollercoaster. Every corner of the world is feeling the impact of the conflict in the Gulf, at a time when economies were already struggling with volatility and instability.
Professional accountants must grapple with the consequences of geopolitical events every day, as they guide their organisations or clients through an increasingly uncertain environment. It is hardly surprising that the latest ACCA/IMA Global Economic Conditions survey, for the first quarter of 2026, found that international and geopolitical instability are the biggest concern for accountants.
‘Traditional forecasting and planning can’t keep up with today’s events’
In this environment, accountancy and finance professionals around the world are stepping up to the crucial role of strategic adviser. But as a new paper from ACCA’s Policy and Insights team, Accountants leading in a volatile world, points out, they are well prepared to rise to the challenge.
The impact of a complex geopolitical environment has been a significant driver in the evolution of the finance function in recent years – a fact highlighted in a 2024 report and survey by ACCA, CAANZ and PwC. It was also the impetus behind ACCA’s decision to enhance and redesign its qualification, to ensure members are equipped with the strategic skills needed for a volatile and rapidly changing world.
Super-connectors
Accountants leading in a volatile world explains that when uncertainty and volatility abound, managing enterprise risk is key. ‘Accountancy and finance professionals are super-connectors within organisations,’ it says. ‘They have unparalleled connections and appreciations of the complexity of operating models. At a time when these models are being stress-tested as never before, bringing that knowledge to bear is essential.’
The paper details the interdependent shifts in the business and financial landscape, and the role that professional accountants play in identifying marketplace, governance and information security risks, and in ensuring that financial and non-financial data is reliable and well governed. Their role is to help their organisation navigate uncertainty, interpret complex risks and make informed decisions.
CFOs can provide the pre-emptive advice their organisations need
‘Accepting that ongoing geopolitical and economic uncertainty is a reality is important,’ the paper says. Organisations, supported by finance professionals, must decide on their level of risk appetite and develop mitigation strategies accordingly. ‘Events are changing faster than traditional forecasting and planning cycles can keep up with. The importance of “what if?”-based decision-making as a tool to guide strategy is clear.’
This has significantly raised the profile of accountants and the finance function, the paper adds, to the extent that the CFO ‘is often now regarded as the right hand of the CEO’. But it is essential that finance leaders and their teams deliver on these increased expectations. They can do this by identifying risks and their financial and operational impact, and providing the pre-emptive advice that their organisation needs.
‘Creating an element of certainty in an uncertain world is a skill,’ the paper concludes. ‘Yet it is one that accountancy and finance professionals are well placed to deliver on in volatile times.’
More information
See also the AB articles ‘Time to review risk response’ and ‘Supply chain risk is strategic concern’
