Brexit has created an environment of radical uncertainty. It is more important than ever for organisations to act with conviction about the anticipated future outcomes from potential accounting implications to the tone of the board, say Costa Coffee’s Malcolm Finn and University College London’s (UCL) David Tuckett
A lot has happened in the last few months. Brexit has arguably been one of the biggest and most sudden economic shocks in recent years, bringing significant changes to the political landscape in its wake. Theresa May has said ‘Brexit means Brexit’ which despite sounding definitive and incontrovertible may disguise some uncertainty, although she has now confirmed the process will begin by the end of March 2017. The aftershocks and prolonged uncertainty create new challenges for organisations.
Notwithstanding that life outside the EU must be possible, it is not clear when we will know what it looks like (it may be years) or how Britain will emerge following negotiations of the split. The government has not yet decided what trade relationship it wants with the EU, and it remains unclear what it will be able to get.
