Reporting and Fraud Risk Arising from COVID-19 Pose Significant Challenges for Professional Accountants

Published by: IFAC Globally the COVID-19 crisis is causing huge financial implications for many organizations, as well as exposing them to a variety of other emerging risks related to virtual operations, cybersecurity, and changes in...

Six Ways for SMPs To Evolve and Thrive in the Covid-19 Environment

Published by: IFAC To say that the coronavirus (or Covid-19) pandemic is one of the major catastrophes of the 21st century may not be an exaggeration. Members of the IFAC SMP Committee (SMPC) recently shared their experiences about how Small Firms and Professional Accountancy...

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Publications

Publications of International Federation of Accountants   Title   1. Practice Transformation Action Plan - A Roadmap to the Future    

Practice Transformation Action Plan - A Roadmap to the Future

Published by: IFAC These extraordinary circumstances offer small- and medium-sized practices (SMPs) significant opportunities to adapt and service a rapidly changing world. IFAC has developed thought leadership on practice transformation, focused on how SMPs can embrace change, leverage...

Remote auditing during COVID-19

Published by: AICPA   AICPA Chief Auditor Bob Dohrer provides advice on remote auditing and inventory observation during the coronavirus pandemic.  To access the Video, click HERE

SAICA Leadership in a Time of Crisis – complimentary webcast series

Published by: The South African Institute of Chartered Accountants Leading in unprecedented times Crises inadvertently create opportunity. Challenges and crises have the potential to ignite our greatest ideas, creative thoughts and leadership decisions as it forces us outside the norm....

PAOs Counting on Each Other—The Race to Online CPD During COVID-19

Article written by: Alta Prinsloo - Executive Director Source: IFAC   Earlier this year, I participated in a review of our school district’s long-range financial plan and asked whether we should anticipate that children would not be sitting in classrooms in ten years’...

Seven Essential Crisis Management Planning Steps for PAOs

Article written by: Linda Lach - Director, Governance, IFAC and Darlene Nzorubara - Senior Technical Manager, Quality and Development, IFAC Source: IFAC The speed, global span, and widespread impact of the recent coronavirus (COVID-19) pandemic have made crisis management...

Coronavirus considerations for auditors

Published by: ICAEW   ICAEW’s Audit and Assurance Faculty shares a recording of its recent webinar looking at the challenges faced by auditors due to the spread of coronavirus: attendance at client sites, stocktakes, valuations, group audits and reporting dates. This webcast,...

COVID-19: How to start looking forward with hope

Article written by: Amy Brachio - EY Global Advisory Risk & Performance Improvement Leader   Four important learnings from the COVID-19 crises to take into the future. As a global community, we are collectively sharing the experience of the COVID-19 pandemic. The outbreak of a...

Enterprise resiliency: nine areas of focus for COVID-19 crisis management

Article written by: Tonny Dekker - Global Client Service Partner | EMEIA Risk Advisory Leader Introducing an easy-to-use diagnostic tool to help provide a comprehensive, methodical approach to crisis management. The global spread of COVID-19 is a humanitarian crisis, first and foremost. But...

COVID-19: business recovery planning for private businesses

Article written by: Ryan Burke - EY Global Growth Markets Leader   As businesses navigate the ongoing COVID-19 crisis, now is the time to focus on five key priorities that can help reshape results. The World Health Organization (WHO) declared COVID-19 a public health emergency of...

Pandemic Planning - Practical Considerations Supporting Audit Quality

Published by: Forum of Firms Important Notice This material is not designed to be comprehensive or a complete summary of the issues – but to assist discussion, in as timely manner as possible, during these unique times – all in support of audit quality. Consequently, limited...

COVID-19: GUIDANCE for SMPs

Source: EFAA Helping SMPs and their SME clients cope with the COVID-19 crisis Across Europe and beyond SMEs and the self-employed are facing acute financial stress.  While SMPs are themselves suffering disruption from the crisis, they remain, more than ever, an invaluable source of...

Survey on COVID -19 impact on Kosovo enterprises

This study has been commissioned and executed jointly by : Kosovo Chamber of Commerce American Chamber of Commerce in Kosovo Kosovo German Chamber of Commerce European Investors Council Kosovo Manufacturing Club The study aims to provide a preliminary overview of the impact of...

Covid-19: Frequently Asked Questions on Auditing

Article written by: By MIA Professional Practices & Technical Team The varying travel restrictions both locally and abroad that have been set in place following the outbreak of the Coronavirus Disease 2019 (Covid-19) pose new challenges for auditors. In addition, the onset of...

Report from FCM - Protection of SMEs and Self - Employers in times of COVID-19

As COVID-19 has spread around the globe, SMEs and self-employed workers seem to be the most vulnerable to the economic effects that it’s causing at a global level of society. As the number of SMEs in Europe goes up to 25,000 representing 2/3 of the jobs, it is of...

Staying close to clients while social distancing

Article written by: Megan Breen In these tough times, while we maintain our social distance, clients need to know their practitioner is right by them. As the impact of COVID-19 continues to spread across the world, small businesses are suffering financially and relying on their...

Digital transformation is the new necessity – and a big opportunity

Article written by: Will Farnell - Founder and Director of "Farnell Clarke" and author of "The Digital Firm" The coronavirus (Covid-19) lockdown is forcing the pace of technological change. Will Farnell, author of The Digital Firm, argues it could be the making of...

Coronavirus (Covid-19) and data protection: what you need to know

Article written by: Ian Cooley - GDPR, Data Protection and Privacy Specialist at GDPR Advisors UK Although Covid-19 has caused a great deal of unprecedented disruption for businesses, the General Data Protection Regulation (GDPR) [and the UK equivalent, the Data Protection Act 2018 (DPA2018)]...

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Managing the impacts of coronavirus: 10 expert tips for business owners

Article published by: ATT The Insolvency team from leading legal firm Aaron & Partners have produced a guide aimed at helping UK business owners to navigate the current economic climate in relation to Coronavirus (Covid-19). Senior insolvency solicitors at Aaron & Partners, Mark...

We Have to Address Mental Health—Especially Now

Article written by: Prof. Andrew Conway, FIPA, FFA Source: IFAC Mental health and well-being is not a trend or buzz word. It is real and must be addressed—not just in the public interest but in the interests of humanity. The COVID-19 outbreak has brought this sharply into focus. The...

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Tomorrow’s Risk Leadership: Delivering risk resilience and business performance

Article published by: CGMA Tomorrow’s Risk Leadership, a report from London-based think tank 'Tomorrow's Company', shows how companies should rethink their risk leadership. The risk landscape is constantly evolving and becoming more complex. Being able to identify and...

Guidance for Auditors during the Coronavirus Pandemic

Article published by: The International Auditing and Assurance Standards Board (IAASB) Source: IFAC The COVID-19 pandemic is a global health and humanitarian crisis. Beyond the significant challenges that lay ahead in all facets of life, the pandemic has the potential to significantly...

Five steps for business continuity amid COVID-19

Article written by: Ash Noah, CPA, CGMA, FCMA, VP - Managing Director - MA Learning, Education & Development, Association of International Certified Professional Accountants  As a former CFO, I have managed through crises, including the Gulf War, 9/11 and the 2008 financial crisis....

A Guide to Managing Your (Newly) Remote Workers

Article written by: Barbara Z. Larson, Susan R. Vroman and Erin E. Makarius for Harvard Business Review In response to the uncertainties presented by Covid-19, many companies and universities have asked their employees to work remotely. While close to a quarter of the U.S. workforce already...

Latest from The European Federation of Accountants and Auditors for SMEs (EFAA)

Source: EFAA   Foreword from the President - Salvador Marín   Dear Members and Friends of EFAA, As we all know too well, the whole world is currently in the middle of a global pandemic that has fundamentally changed the way we live and work, possibly forever and...