Adopt “above-the-bar” regulatory / governance protocols
Workforce & strategy: A priority for CEOs as they work with CHROs and CSOs to prepare and manage business continuity during crisis
Regulatory monitoring & compliance
Implementing COVID-19 regulations within your business
This article discusses the impact of the new and rapidly evolving COVID-19 regulations on businesses. As the coronavirus continues to spread globally, governments have implemented strict measures, passing a range of emergency rules and regulations pertaining to travel, quarantines, and workplace safety and hygiene. Organisations need to proactively monitor the latest regulatory requirements, assessing organisational exposure and adjust operational activities where necessary. As part of their efforts, companies should also address how to communicate about and track compliance with the new COVID-19 regulations as they emerge.
Topics covered in this article:
- The importance of a robust compliance framework with up-to-date information
- Effective communication tools and channels and how they are impacted by new working environments
- Tracking employee compliance with regulatory requirements and company policies and what key data you may need to collect
Accounting and disclosure considerations
Reporting implications for entities operating in regions impacted by COVID-19
This article discusses the potential accounting and financial reporting implications for entities impacted by their operations in regions experiencing disruption from COVID-19. This includes companies with foreign subsidiaries, operations, investments, or joint ventures in impacted regions as well as those with suppliers, vendors, or customers in these areas. Even those who lend or borrow from entities in these regions may experience accounting and financial reporting challenges. Additionally, the overall economic uncertainty caused by COVID-19 in some regions could indirectly affect entities if events increase global market volatility.
Topics covered in this article:
- Reassessing accounting conclusions and adequacy of disclosures for key areas
- Appropriate disclosure of ability to continue as a going concern
- Disclosure of subsequent events related to coronavirus impacts
