COVID-19

CFOs worry coronavirus may lead to global downturn

Mar 16, 2020

On March 16, 2020, Accounting Today released an article on the potential for COVID-19 to lead to a global economic downturn is the top concern of finance leaders in the U.S. and Mexico.

All of the CFOs and finance leaders surveyed said their business is experiencing some impact as a result of coronavirus. However, 90 percent of the finance leaders polled said their business would return to normal in less than three months if COVID-19 were to end immediately, which seems unlikely as the pandemic continues to spread around the world.

Review the full article on Accounting Today's website.

COVID-19: The crisis communications response

Mar 04, 2020

On March 4, 2020, the Conference Board released a podcast that discusses insights and recommendations that will be helpful as you formulate, implement and manage your crisis communications response strategy.

As the COVID-19 outbreak continues, communications leaders face the growing challenge of supporting the safety of staff, the reputation of the company, and the viability of operations. At the same time, the risks of missteps are significantly compounded by social media activism, misinformation and the critical gaze of international observers.

Listen to the podcast on the Conference Board's website.

SEC issues COVID-19 Coronavirus exemptive order

Mar 04, 2020

On March 4, 2020, the Securities and Exchange Commission (SEC) announced that it is providing conditional regulatory relief for certain publicly traded company filing obligations under the federal securities laws.

The impacts of the coronavirus may present challenges for certain companies that are required to provide information to trading markets, shareholders, and the SEC. These companies may include U.S. companies located in the affected areas, as well as companies with operations in those regions.

Review the press release and exemptive order on the SEC's website.

Coronavirus is disrupting global value chains - Here’s how companies can respond

Feb 27, 2020

On February 27, 2020, the World Economic Forum (WEF) released an article on how it is clear that the COVID-19 (coronavirus) outbreak is disrupting manufacturing and global value chains, with consequences for businesses, consumers and the global economy.

Many CEOs are scrambling to respond to urgent questions about how to protect their employees, ensure supply security, mitigate the financial impact, address reputational risks, and navigate market uncertainty, which is driving down demand. Global value chains, which are essential engines of economic development and GDP growth, have traditionally been designed to optimize for cost competitiveness. The coronavirus underlines the need for companies to focus on risk competitiveness as well. According to conservative estimates from Reuters, China’s economic growth is expected to slow to 4.5 percent in the first quarter of 2020—the slowest pace since the 2008 financial crisis and could cost the global economy $1.1 trillion in lost income.

Review the full article on the WEF's website.

Coronavirus and political unrest: Determining compensation in uncertain times

Feb 13, 2020

On February 13, 2020, the National Association of Corporate Directors (NACD) released a blog on how US companies doing business in China are grappling with how to determine bonus payouts for 2019 and incentive plan goals for 2020 given the political unrest in Hong Kong and the recent coronavirus outbreak that began in the city of Wuhan.

Starting in summer 2019 and increasing in scale and violence over the course of the year, protests have disrupted businesses in and around Hong Kong, an important financial hub and consumer market. Additionally, over the last six weeks, the global spread of the coronavirus has had a significant and far-reaching economic impact. Given these extraordinary circumstances, Compensation Advisory Partners (CAP) has outlined approaches that compensation committees can take to determine 2019 executive bonuses and plan for 2020.

Review the full blog on the NACD blog's website.

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