More than three-quarters of accountants globally reported increased operating costs in the second quarter of 2026, surpassing the previous record set after Russia’s invasion of Ukraine, according to the Global Economic Conditions Survey by ACCA and IMA. The proportion of North American accountants reporting higher costs jumped more than 10 percentage points to 74%, while 83% of CFOs worldwide experienced increased costs, close to series peaks from 2022 and 2023. Despite the cost pressures, global confidence among accountants recovered from near-record lows in Q1, though it remains weak by historical standards in North America and Western Europe. Economic pressures returned as the top risk priority at 22%, ahead of geopolitical instability at 20% and cybersecurity at 14%. ACCA Chief Economist Jonathan Ashworth warned that if firms increasingly pass costs to consumers, it could raise the risk of policy tightening by major central banks.