The modern business environment no longer changes by the year, or even by the quarter, but by the news cycle. Most businesses operated on the assumption that tomorrow would look broadly like today, only bigger, faster and hopefully more profitable; now, they face a world that is shaped by constant disruption, geopolitical tension and economic uncertainty.
The pace of change that once seemed dizzying has come to look almost like a gentle stroll in the countryside on a summer afternoon. In this decade, history has become stuck on fast forward.
Everywhere we look we see risk and uncertainty: climate crises, global pandemic, conflict, the rise of AI – and, right now, energy emergencies and fractured supply chains resulting from the conflict in Iran. Anyone craving a comfort zone or a quiet life was born at the wrong time.
Of course, most of us respond to these shocks by getting on with our lives, taking care of our loved ones and controlling what we can control.
Critical support
For ACCA members, that means staying true to our identity as people who display professional integrity in all that we do, and in a wider sense by promoting the future of sustainable business, which is the best and only antidote to chaos.
So much of that spirit is captured in a recent ACCA report, Accountants leading in a volatile world (see the AB writeup ‘Risk wranglers take centre-stage’. It describes how, at a time of growing unpredictability, organisations increasingly rely on their accountants for strategic insight and critical support in decision-making.
It makes it plain that as well as all the technical knowledge that accountants command, it is their personal qualities that add real value: their ability to see the broader picture; to act with integrity at all times; and their sense of curiosity and scepticism, which helps them identify risks and respond with purpose.
The CFO role shifted in just a few years in response to the rising tide of confusion
I have seen this trend in my own career as a CFO. The role shifted in just a few years in response to the rising tide of confusion, and this is precisely what I hear from the leaders I talk to around the world. Risk management and forward thinking are required skills as the job has expanded way beyond the traditional parameters of sound financial governance and stewardship.
Today’s CFOs – and, increasingly, all accountants – need a solid grasp of scenario planning and the ability to look at more than just the numbers, to consider other aspects connected with business continuity and agility. They must remain vigilant for the next shock and be ready to respond.
First-hand experience
This is a real issue right now when many of our members are experiencing at first hand the impact of war in the Middle East. They are guiding their organisations and clients through the consequences of supply-chain disruption, the threat to oil markets and wild lurches in the price of fuel.
There was a time when globalisation encouraged the belief that trade would become frictionless and limitless, and the scope for growth and commerce as wide as the planet. In 2026, that vision can appear precariously dependent on a 24-mile stretch of water through the Strait of Hormuz.
We don’t know precisely how events will play out in the next few months. But ACCA members will carry on doing what they always do, offering the advice and all-round perspective that will help organisations plot a path through troubled waters and reach a safer haven.
More information
See also the AB articles ‘Time to review risk response’ and ‘Supply chain risk is strategic concern’
