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Covid-19 and the CFO

Covid-19 and the CFO

The furious speed with which the COVID-19 outbreak morphed from a health care issue to an economic issue has created unprecedented challenges for chief financial officers. To manage through these challenges and position their organisations for recovery, CFOs need to take decisive action now.

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The Issue

Employees are the first priority, of course: doing everything possible to safeguard their health and financial security is an imperative. It is not only the right thing to do but will be critical to rebounding when COVID-19 abates. Ongoing communication will be important, too, both to minimise employees’ stress and to keep them engaged.

Many companies have already instructed corporate staff to begin working remotely, safeguarding both their physical and financial health. However, most organisations have little experience managing a work-from- home workforce, and their employees little experience working in one.

CFOs must prioritise making sure workers get the tools and technologies they need to communicate and collaborate, along with ready access to  the corporate data pertinent to their jobs—all while maintaining security  standards.

© 2020 KPMG, a Ghanaian registered partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

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