On Tuesday, 28 April the Board Leadership Center organized a webinar on the impacts of COVID-19 for board members, through four lenses:
If you missed the webinar or would like to revisit all or some of the sections, we invite you to watch the recording and download the slides. If you have any further questions or comments, do not hesitate to reach out to the relevant experts as listed below.
Lastly, we invite you to take a look at our COVID-19 pages, where we have gathered the latest insights and information on how to maintain business continuity in these unprecedented times.
Most companies are likely to be impacted by the coronavirus pandemic (COVID-19), either directly or indirectly, and the increased economic uncertainty and risk may have significant financial reporting implications. This session focuses on whether: (1) there are any going concern considerations; (2) the pandemic is an adjusting or non-adjusting event; (3) the pandemic has resulted in an unavoidable liability or a loss-making contract; (4) if any non-financial assets have become impaired; (5) if taxable profits will be available to recover deferred tax assets; (6) if there is any impact on expected credit losses; (7) how companies should account for rent concessions; and (8) the impact of COVID-19 on interim financial statements.
This session discusses the legal impacts of the coronavirus pandemic, including the: (1) impact on agreements; (2) impact on the company; (3) supporting measures; (4) general meeting of shareholders; (5) insolvency; and (6) liability of directors.
This session highlights a couple of fiscal attention points that you need to be aware of as a board member, centralized around the following topics: (1) cash tax management; (2) cost savings; (3) tax in the accounts; (4) travel restrictions and homeworking; and (5) tax strategy.