Corporate debt levels to fall 16 October 2014 5:29PM John Kavanagh The chief financial officers of major companies expect their gearing to fall in the year ahead, according to the latest Deloitte Quarterly CFO Survey.This is despite the fact that 41 per cent of CFOs said their balance sheets were under-geared.Expectations for increased revenue, margins, headcount and spending are all positive - but lower than they were three months ago.Plans for capital expenditure, mergers and acquisitions, organic growth and new products remain in place.However, risk appetite is down, with fewer than 30 per cent of respondents saying now was a good time to take greater risks.The outlook has been affected by weaker commodity process and uncertainty over the passage of the Budget.More CFOs expect their gearing to fall in the year ahead, as opposed to rise. They said low interest rates were not stimulating business investment. Internal funding remained the favoured source of corporate funding.