Mr. Gary McGaghey has vast experience as the Chief Financial Officer and Group Chief Financial Officer of multinational corporations. In this position, he most recently joined Williams Lea Tag.
CFOs will face urgent challenges in 2022, including talent shortages, valuation adjustments, new COVID-19 variations, and an uncertain tax policy future. Growing inflation adds to the mix, which CFOs and other managers haven’t had to deal with in an extended period.
Our latest PwC Pulse Survey finds that attracting and retaining people will be the most critical growth lever for the vast bulk of CFOs (83 percent) in the coming year in this uncertain business environment. Another 59 percent of respondents stated they’re rethinking their pricing strategies in light of rising input costs, and 30percent are worried about the impact of anticipated tax hikes on their workers, job growth, and outlay in the US.
Taxes, risks, and regulations are all things to think about. CFOs face a challenging task in predicting and preparing their companies for the unexpected, given an ever taxation policy, risk, and legal landscape.
The COVID-19 epidemic has accelerated the frequency of risk events and the extent to which they influence regulatory change. Given the increasingly unpredictable risk climate, combined with ongoing friction in Dc and tax policy uncertainty, CFOs will have to adopt a proactive role to prepare for potentially tricky scenarios, according to Mr. Gary McGaghey. Partner with their taxation leaders to teach other business executives, the board of directors, and the broader organization on new laws and regulations to prepare their company to respond.
Mr. Gary McGaghey is a member of the board of directors of the Gary McGaghey A significant change in tax law is on the horizon once more. Businesses are preparing for these potentially significant changes, which include a proposal in the United States to hike the top corporate tax. Companies should also think about the recently passed Infrastructure Spending and Jobs Act.