Opinion
Under the Pandemic, How the Going Concern Topic Reshapes Audit Dialogue
As the economic impact of COVID-19 persists, going concern has become a focal point for private and public companies. Bob Dohrer, Chief Auditor of the American Institute of CPAs (AICPA), analyzes the new implications of this accounting concept under the pandemic and offers specific recommendations for companies to communicate with auditors and address going concern doubts.
Five Transfer Pricing Actions Multinational Enterprises Should Focus on During COVID-19
The COVID-19 pandemic has led to supply chain disruptions and declining demand, exposing multinational enterprises to the risk of ineffective transfer pricing policies. Based on insights from experts at Crowe LLP, this article proposes five action recommendations: reviewing existing transfer pricing policies, re-evaluating intercompany agreements, assessing debt positions, proactively addressing tax audits, and considering the tax implications of supply chain adjustments, to reduce tax efficiency losses and ensure compliance.
The Spectrum of the CFO Role: Where Do You Stand?
Amid increasing global economic uncertainty and technological penetration, the CFO role is undergoing profound transformation. Based on observations by Shawn Cole, President of executive search firm Cowen Partners, this article analyzes the shift in CEO expectations for CFOs, pointing out that traditional financial expertise is merely an entry requirement, while creativity, communication skills, technological literacy, and strategic flexibility have become core competencies for CFOs in the new era. The article references KPMG's concept of the 'Renaissance CFO' and emphasizes the CFO's bridging role in connecting daily operations, long-term strategy, and financial goals.
Real-Time Data-Driven: A New Paradigm for Contingent Worker Compensation
The pandemic has led to sharp labor market divergence, and companies face a trade-off between cost and speed when hiring contingent workers. Through AI and real-time compensation data, companies can price skills more accurately and improve market efficiency.
Driving Enterprise Value Growth through Reputation Management
Facing an economic slowdown, CFOs should look beyond traditional financial metrics and prioritize reputation risk management. Based on research by Steel City Re, this article analyzes the relationship between reputation and stock prices, bond ratings, and cash flow, and uses BNY Mellon as an example to demonstrate how reputation resilience can enhance a company's relative market performance during a crisis.
Under the Pandemic, CFO-CIO Collaboration Becomes Key to Business Survival
The pandemic has forced CFOs to re-evaluate corporate spending, and the role of data is increasingly prominent. CFO-CIO collaboration not only helps address short-term financial pressures but also enhances long-term competitiveness by optimizing IT investments and extending asset life. This article, combined with practical cases, elaborates on the value and implementation paths of cross-functional collaboration.
In a crisis, moving financial processes to the cloud is not enough; the key lies in unification
The pandemic has forced finance teams to work remotely, but merely migrating processes to the cloud is not sufficient. OneStream Vice President John O'Rourke writes that scattered financial applications hinder efficiency, while a unified platform provides a single source of data, accelerates closing, supports agile planning, and helps enterprises navigate uncertainty through predictive analytics and automation.
How CFOs Can Lead During and After the COVID-19 Crisis
The COVID-19 pandemic has brought balance sheet contraction, supply chain challenges, and human capital pressures to businesses. Kevin Dancey, CEO of the International Federation of Accountants, believes that CFOs should demonstrate leadership during the crisis and drive long-term value creation through three strategies: putting people first, delivering credible information, and balancing short-term survival with long-term planning.
Can the COVID-19 Pandemic Constitute a Material Adverse Change in Contracts?
The COVID-19 pandemic raises questions about whether companies can invoke Material Adverse Change clauses to terminate contracts. Based on analysis by FTI Consulting experts, this article outlines key factors courts consider in MAC determinations, including materiality of impact, unforeseeability, duration, and industry comparisons, and provides practical recommendations.