We are living in unprecedented times. The coronavirus (COVID-19) pandemic is sweeping the globe leaving almost no community untouched – both from a human and an economic perspective. With most affected countries now in various states of ‘lockdown’ to flatten the curve, both the local – and worldwide – economies are suffering. In these uncertain times, everyone needs to come together to pool their knowledge and help businesses to survive, getting them into the best possible shape they can be and going the extra mile to protect them and their employees as far as possible.
Chartered Accountants across the globe are increasingly being sought out and seen as trusted pairs of hands to help advise businesses (both small and multi-national) in areas of commerce and how best to keep cash flow going. Indeed, it is our duty to pull together and come up with forward planning strategies to help right the global ship once the pandemic is over. Naturally, we do not have a timeline to work towards, but Chartered Accountants Worldwide is working with its member institutes to gather resources and share best practices, so that institutes and their individual members, are best placed to assist wherever they can.
Furthermore, for those in Audit, there needs to be much thought given to new ways of working, in particular changes from face-to-face meetings with Directors and Management, which were essential to exercise judgment and skepticism, as well as relaxing deadlines. Over the coming days, weeks and months, we will be building a hub of information and help for members to draw on, allowing them to help rebuild confidence in the economy and allow us to see the world thrive again once things settle down.
In the meantime, I would like to thank all the members from across our worldwide network for their tireless work helping find the best solutions for companies in these difficult times.
Chairman, Chartered Accountants Worldwide