Managing Covid-19: Important Resources for Energy Companies
March 30, 20205:49 AM BOE Report Staff
Financial reporting and audit implications
When we feel a global impact like the one from novel coronavirus (COVID-19), we need to be prepared to adapt and keep every aspect of your business safe—from pivoting immediately to formulating long-term strategies for success. Above all, the people driving your businesses are priority. BDO teams across the country are proactively engaged and rapidly monitoring new developments, providing guidance and support to clients wherever they need it, and responding accordingly. We’re here to offer resources to support you in workforce and economic impact strategies, crisis and risk management, regulatory impairments and deadlines, tax implications, and financial recovery. Let’s stay prepared together. Visit our newly created and regularly updated COVID 19 RESOURCE HUB to access the following: WEBINAR Hear from BDO on immediate steps you can take to manage your cash flow during this challenging time. Focusing on tax measures and government programs, it is designed to help uncover the liquidity options hidden in your business. DOWNLOAD HERE CRISIS MANAGEMENT The time to assess and plan ahead is now. We explore some foundational ways to help your business get started in managing this pandemic. Steps to manage loss and business interruption during COVID-195 tips to manage a crisisInsurance coverage considerationsCrisis management & forensic insurance risk and recovery for COVID-19 RISK MANAGEMENT As situations develop, so do new levels of risk. How can you protect what’s valuable? We examine some starting points. Determining your infectious disease risk during COVID-19 outbreakHow to be cyber-resilient during the pandemicCOVID-19-related fraud schemes ECONOMIC IMPACT STRATEGIES How do you apply fluctuating economic data to your readiness plan? Economic impact will be felt everywhere. Here’s what to watch for. Utilizing dynamic financial analysis to weather the COVID-19 financial storm TAX IMPLICATIONS How is COVID-19 affecting investments, tax structuring and future planning, and the downturn in financial markets? We examine steps to help you manage your taxes and financial well-being. Tax considerations for difficult and uncertain timesFederal and Québec governments extend income tax filing and payment deadlinesFederal government fiscal stimulus package in response to COVID-19S. provides 90-day extension to pay individual and corporate taxes due to COVID-19Cash Flow strategies and Government Incentives in the time of COVID-19 WORKFORCE STRATEGIES How do you guard the safety of your staff while following all the proper protocols? Ensure your people are taken care of every step of the way. Shifting to work safe and work smart during the COVID-19 pandemic FINANCIAL RECOVERY How do you manage your business’s cash flow now, and plan for recovery amid future developments? How to respond to liquidity and debt challenges in the wake of COVID-19 FINANCIAL REPORTING How is the spread of COVID-19 affecting audits, reporting deadlines, impairments, and other financial statement delays? Our guide gives an overview of what to focus on.