Risk mitigation during COVID-19 - Journal of Accountancy

TOPICS / COVID-19

September 28, 2020

Companies use full array of tools to navigate the pandemic

Companies have used various means to expand credit, conserve cash and reduce tax burdens to combat the devastation of the pandemic. Here are some of the tactics that large public companies have used.

September 24, 2020

Safety of employees, customers ranks as top pandemic-related concern

A survey of U.S. finance decision-makers sheds light on the precautions businesses are taking and how they plan to address future office space needs.

September 18, 2020

Corporate governance in COVID-19: Cybersecurity and technology considerations

The coronavirus pandemic has resulted in a realignment of company strategies to enable success during these disruptive times. Some of these decisions — such as the sudden shift to remote work due to stay-at-home orders — have created additional risk corporate boards must consider.

September 2, 2020

COVID-19 decisions create data dilemma for businesses

The rush to set up and support remote working arrangements kept companies operating despite pandemic-related quarantines, but the swift shift to the cloud could mean that regulatory problems loom on the horizon. The first question that must be answered: Where is my data?

July 20, 2020

Pandemic-related legal risks that you can’t afford to ignore

A lawyer with years of experience advising companies on crisis management shares current and future legal risks organizations should be considering.

June 26, 2020

Handling nondisclosure compilations amid the pandemic

Compilations of financial statements that omit substantially all disclosures can provide challenges for CPAs as the pandemic hurts clients’ businesses. Here’s how CPAs can handle the challenging judgments in these engagements.

June 24, 2020

Strategies for addressing pandemic-related audit risks

Audit risk assessments and sampling procedures may need to change as a result of the coronavirus pandemic, according to Lynford Graham, CPA, Ph.D.

June 15, 2020

CFOs’ top 5 lessons for handling coronavirus crisis

Three experienced finance leaders share what they have learned and what they are doing to deal with turmoil and uncertainty.

June 5, 2020

4 key COVID-19 audit risks for 2020 year ends

The coronavirus pandemic has created special challenges for practitioners to consider related to internal control, fraud, legal compliance, and accounting estimates. Here’s how auditors can address these risks.

May 8, 2020

As cash worries persist, companies ponder cuts, investments

Revenue declines are chief on the minds of finance professionals in an April survey. More than half of finance professionals expect business operations to return to normal in the fourth quarter or later.

April 24, 2020

Strategic disruption: An expert’s thoughts on moving forward

Rita McGrath, a professor of management at Columbia University’s Graduate School of Business who has written extensively on disruption, foresees changes in business strategy in the wake of the COVID-19 pandemic.

April 21, 2020

The indirect impacts of COVID-19 on CPA firms

When money is lost, those who are damaged will seek recourse from wherever they can find it, and CPAs can be high on that list of targets.

April 6, 2020

How CPAs can fight fraud in the COVID-19 pandemic

Coronavirus is an opportunity for fraudsters to take advantage of fear and confusion. Elizabeth Woodward, CPA/CFF, and Howard Silverstone, CPA/CFF, discuss how accountants can identify and prevent coronavirus-related fraud.

April 1, 2020

Enterprise risk management: More critical than ever

The fast-moving, global reach of the coronavirus has illustrated that a forward-looking approach to risk management is more important than ever.

March 5, 2020

35 questions for coronavirus planning

Business leaders should be proactive in putting emergency plans in place in response to the spread of coronavirus. Here’s a checklist for organizations related to employees, customers, and vendors.

March 5, 2020

Coronavirus looms over positive economic outlook

Projections for the next 12 months are generally positive, but concerns about the effect of the virus diminished that enthusiasm, according to a quarterly survey.

March 2, 2020

What companies are disclosing about coronavirus risks

The coronavirus outbreak is causing significant disruptions to many companies’ supply chains and operations. Here’s how some companies are discussing risks related to the virus in corporate reporting.

May 6, 2019

Why you can’t wait to prepare for disaster

Jennifer H. Elder, CPA/CFF, CGMA, co-author of the book “Faster Disaster Recovery: The Business Owner’s Guide to Developing a Business Continuity Plan,” discusses how to prepare so that an organization’s finances and reputation will be protected if a disaster occurs.