Deloitte UK's Q1 2016 CFO Survey shows a rise in chief financial officers supporting the EU in the run-up to the UK's EU referendum on 23 June. Three-quarters of CFOs say that remaining in the EU is in the best interests of UK companies (up from 62 per cent at the end of 2015).

Just eight per cent of CFOs are in favour of the UK leaving the EU, according to Deloitte's findings.

The survey found that CFOs think the UK benefits from its role within the EU due to

• UK exports,
• inward investment and
• financial services.

However, just 15 per cent of CFOs see a benefit for UK businesses from the EU’s legal, regulatory and compliance framework.

Other findings from the survey include:

• The forthcoming EU referendum in the UK is the top risk to business for 54 per cent of British CFOs, putting eurozone economic weakness in second place (48 per cent said the latter was a risk to business).
• There is increasing uncertainty around the economic environment alongside a decline in risk appetite (which has fallen from 51 per cent down to 25 per cent in the past year).
• CFOs are maintaining a focus on reducing costs and increasing cash flow and there is little enthusiasm for expansion.
• More than half – 53 per cent – of CFOs have not made and are not making contingency plans for leaving the EU, possibly as they see this as a low possibility.
• However, 26 per cent said they have made or are making contingency plans for leaving.