Global CFO Survey 2026: Growth expectations up – risk perception even higher / only 38 percent of European CFOs are focusing on acquisitions

• Concern about geopolitical conflicts rises by 19 percentage points to 84 percent: the sharpest increase among all risk areas
• Only 38 percent of European CFOs are actively pursuing acquisitions; in North America, the figure is 51 percent
• 55 percent of European CFOs are primarily occupied with operational tasks

A similar pattern emerges across all three regions surveyed: CFOs’ confidence is rising, but perceived risks are rising even more sharply. Concern about geopolitical conflicts has risen by 19 percentage points compared to the previous year (from 65 to 84 percent), about cybersecurity by 12 percentage points (from 70 to 82 percent), and about inflation by 11 percentage points (from 72 to 83 percent).

“The fact that growth expectations and risk perception are rising so significantly at the same time is not a contradiction; it describes the reality for many CFOs in 2026,” says Julian Drellmann, Senior Managing Director at FTI-Andersch, the consulting unit of FTI Consulting in Germany specializing in restructuring, business transformation, and transactions. “In practice, we observe that CFOs today are driving growth investments while simultaneously building safeguards against the risks that could jeopardize this growth. This requires significantly greater complexity in management. The demands on CFOs continue to rise.”

Different Strategies: North America Focuses on Transactions, Europe on Organic Growth

Globally, 45 percent of CFOs say they are actively pursuing acquisitions. In North America, this figure stands at 51 percent, in Asia at 46 percent–in Europe, however, it is only 38 percent. European CFOs currently place greater priority on cybersecurity (54 percent), expansion into new markets (50 percent), and customer acquisition (49 percent). The three biggest challenges in Europe, according to respondents, are global regulatory changes (83 percent), uncertainty in the capital markets (83 percent), and interest rate volatility (82 percent).

Yet the fundamental conditions for transactions are in place: Globally, two-thirds of CFOs report improved access to financing sources–whether through internal financing from their own cash flow (67 percent), private equity (66 percent), public capital markets (65 percent), or debt financing (61 percent). Despite this improved financing situation, 83 percent cite uncertainty in the capital markets as a significant risk, underscoring the trend toward selective transactions.

“There are reasons for European CFOs’ reluctance regarding acquisitions: regulatory complexity in Europe is high,” says Julian Drellmann. “But a defensive stance comes at a price. Those who don’t buy today must grow organically, which competitors can achieve more quickly through acquisitions. In our consulting practice, we see both: companies that are leveraging the current environment for targeted acquisitions on improved terms, and those that are waiting it out. The key is to identify and evaluate strategic options and make informed decisions.”

High AI Investment in Europe – Operational Burden Remains the Bottleneck

European CFOs are investing in artificial intelligence across the board: 73 percent have AI capabilities in the finance function either in use, under development, or planned as a high priority. This is a similarly high level to that in North America (69 percent) and slightly higher than in Asia (65 percent). The most frequently prioritized applications in Europe: predictive cash forecasting (90 percent), machine learning-based forecasting (88 percent), and automated AI reporting (88 percent).

At the same time, 55 percent of European CFOs report spending the majority of their working hours on budgeting, system management, and team leadership. When asked where they would like to spend more time, they cite AI and digital initiatives as well as tapping into new growth areas. Globally, 52 percent of CFOs are now leading company-wide transformation programs, while 48 percent are steering AI implementation within their organizations.

“At first glance, it may seem surprising that European CFOs are currently leading the way in AI adoption in purely quantitative terms,” says Julian Drellmann. “If 55 percent of European CFOs spend the majority of their time on routine operational tasks, it stands to reason that AI investments will initially flow there: that is, into accelerating existing processes. We see this in practice as well: this frees up more time for strategic tasks. Further AI investments should also be directed toward this area–not just in automation, but in providing targeted support for strategic CFO work. The next twelve months will show who is setting the right course in this area now.”

About the survey:

The 2026 Global CFO Survey by FTI Consulting was conducted in collaboration with CFO Dive. A total of 700 CFOs and finance decision-makers in North America, Europe, the Middle East, and Africa (EMEA), as well as Asia-Pacific (APAC), were surveyed. More than 83 percent of respondents hold the position of CFO, VP of Finance, Chief Accounting Officer, or Director of Finance.

You can download the full report here.

About FTI-Andersch

FTI-Andersch is a management consulting firm that supports its clients in developing and implementing sustainable strategies for the future, performance improvement, and restructuring. FTI-Andersch actively supports companies that must address strategic, operational, or financial challenges and change processes –or that wish to proactively align their business models, organizations, and processes for the future. Clients include, in particular, mid-sized companies and corporations operating internationally. FTI-Andersch is part of the FTI Consulting Group (NYSE: FCN), which has more than 8,100 employees worldwide.