The International Federation of Accountants sets out how smaller accountancy practices can help businesses that have been disproportionately affected by Covid-19
IFAC’s Small Business Continuity Checklist – How to Survive and Thrive Post Covid-19 outlines key financial management and strategic management tasks, helping businesses to proactively identify and consider essential and timely information.
IFAC adds that small- and medium-sized practices (SMPs) have in-depth knowledge of their clients and provide vital guidance for navigating these uncertain times. Research indicates the business advice provided to small businesses from their professional accountant is associated with improved rates of survival, growth, improved decision-making procedures and superior financial performance.
The checklist is included on IFAC’s dedicated Covid-19 web page, which has a number of other useful resources.