Accountants claim banks are not open for business

Most accountants do not believe the banks are open for business in terms of releasing credit, a new survey has found.

More than 90% of accountants surveyed in the survey by the Institute of Certified Public Accountants (CPA) said their clients are finding it increasingly difficult to secure credit.

"Almost 80% of respondents have witnessed a viable business getting into trading difficulties due to a lack of credit from their bank," the CPA said today.

One in two respondents (50%) said many of their clients would not survive 2009.

The three issues of most concern to CPA accountants are getting paid, client survival and stress.