The spread of the novel coronavirus presents serious concerns and challenges for many around the world. To help, we’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos from FM magazine and the Journal of Accountancy on this page, along with curated items from our archives to help with uncertainty and disruption.
The Association, the global voice of the American Institute of CPAs and the Chartered Institute of Management Accountants, is continually monitoring the impact of the coronavirus (COVID-19) on members, staff, exam candidates, students, and the profession. Visit this page on cimaglobal.com for updates and details about where to find the information you need.
3 ways to tackle the coronavirus’s economic risk
The COVID-19 pandemic is keeping CFOs and CEOs up at night as a leading risk facing the global economy. Here are three basic suggestions to tackle the economic risk.
SBA issues details for Paycheck Protection Program loans
The US Small Business Administration has released an interim final rule providing additional guidance and requirements for the program. The final rule includes a number of changes, including a doubling of the loans’ interest rate from 0.5% to 1%.
Applications for small business Paycheck Protection Program open April 3
The US Treasury Department released information for borrowers and lenders, posted an application and urged applicants to act quickly.
10 business sectors boosted by coronavirus concerns
Some businesses are experiencing a demand surge due to the pandemic — and could continue to grow well into the future.
COVID-19, complexity, and strategic decision-making
Author and risk consultant Chris Clearfield explores complexity and COVID-19, offering advice on how finance professionals can improve their strategic decision-making in the face of this complexity.
Steering your budget amid coronavirus uncertainty
A forecasting and budgeting expert describes the forward-looking ways the finance function can help organisations better weather the coronavirus storm.
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.
How consultants can face the coronavirus crisis
Consultancies are projected to lose an average 19% in revenue this year because of the coronavirus pandemic. But there are things they can do in the face of the crisis. Here are seven suggestions.
UK regulators set out policy changes amid disruption
Changes announced include an additional two months for UK companies to publish their audited financial statements.
UK’s economic response to COVID-19 pandemic takes shape
UK chancellor of the exchequer announces unprecedented response to the pandemic’s economic fallout, including helping to pay furloughed employees’ wages.
Ethical leadership at a time of crisis
The next weeks and months are likely to be challenging, but the following steps will help you provide the leadership your team needs to weather the COVID-19 pandemic.
Managing coronavirus disruption: Lessons from Asia
Teams in Jaguar Land Rover China and Rentokil Initial Hong Kong have close to two months of experience battling coronavirus disruptions. What can we learn from them?
US regulators clear way for certain loan modifications amid pandemic
A move by regulators to ease certain restrictions for borrowers in good standing will facilitate loan modifications linked to the coronavirus pandemic. But borrowers will need to act fast to secure relief while still in good standing with their lenders.
AICPA-led coalition calls for small business funding
An AICPA-led coalition is urging quick government action to avert layoffs and allow US small businesses affected by the coronavirus pandemic to continue paying workers. A key step is a federal payroll funding account that small business payroll processors could use to get money directly to employees.
How US small businesses can apply for SBA disaster loans
US small businesses and not-for-profits with fewer than 500 employees can seek to borrow up to $2 million to cover coronavirus-related loss of revenue in declared disaster areas.
Consumer confidence, spending are top coronavirus concerns
The sudden onset of the coronavirus is testing many companies’ financial stability and emergency preparedness. But financial executives tend to believe their businesses are positioned to weather the storm.
How world’s largest glove maker meets coronavirus demand
The finance head of Malaysia’s Top Glove shares efforts behind the scenes in the company’s production ramp-up.
Finance’s crisis role in managing supply chain risk
Taking steps to assess, protect, and where appropriate reconfigure supply chains can help minimise disruption from the spread of the coronavirus.
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 organisations related to employees, customers, and vendors.
Coronavirus risks: The importance of preparation
Organisations that have planned for extraordinary events are better positioned to handle challenges associated with the coronavirus outbreak. Learn more in this podcast.
Jaguar Land Rover China CFO on coronavirus damage control
The virus outbreak has caused the premium carmaker’s China factory and retail network to grind to a halt. China CFO Arthur Yu shares his immediate priorities.
Video: Coronavirus could cost African airlines $40 million
African airlines are facing a hit of up to $40 million from the coronavirus outbreak, a global industry body has said.
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 an AICPA quarterly survey.
Coronavirus concerns: Putting people first
Organisations can’t simply wait and hope for the best when it comes to coronavirus response. Disaster planning expert Jennifer H. Elder, CPA/CFF, CGMA, shares advice in this podcast.
How the coronavirus may affect financial reporting and auditing
The coronavirus pandemic looks likely to create major challenges for the preparation of financial statements, both for the current quarter and also for annual financial reports and audits over the next year.
Conditional coronavirus relief provided by SEC
The US Securities and Exchange Commission said public companies that have trouble meeting filing obligations because of the coronavirus outbreak may qualify for regulatory relief under certain conditions.
Video: ‘Worst yet to come’ – European airlines on virus impact
As the coronavirus spreads, travel industry leaders are predicting more severe consequences. Learn more in this video.
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.
Video: Coronavirus outbreak dominates G20 meeting
The coronavirus outbreak, climate change risk, and global tax rules for tech giants were on G20 finance leaders’ agenda at their Saudi Arabia meeting.
Managing labour shortages key for factories amid coronavirus
Manufacturers in China face labour shortages and logistical challenges that may take months to resolve.