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Steps to be taken by CPA Firms during the Corona Crisis.

COVID-19 pandemic has caused the firms across the globe to close the doors temporarily to slow down novel Corona spread. CPA firms can continue doing the business by having the employees work in a reduced capacity. 

This article lays out a few steps which the CPA firms can take during this pandemic time.

Enable working from home:

It's the responsibility of the company to provide the employees with computer equipment and make sure that every employee is working from home. Encourage the work from the home culture because it's the only solution in this global emergency period. 

Anticipate a drop in productivity:

In this crisis, normality goes by the wayside. People are cancelling their trips; Children not at school; revising the life plans; and making sure they are safe. The tax returns will get down, and it's the time to give a break to the employees, which leads them to work hard later.

Focus on clients who are hurting:

Everyone has clients who need help standing under the laws to deal with this emergency. It's in the hands of the employer to proactively see the client's needs and make a plan to achieve those needs. 

For COVID-19 updates create a page on the website:

At present, the situation is not in our hand, and we don't know how to predict. The daily updates are not enough to keep the people informed. We sent out an email by directing the clients to the web-page for updates. To upgrade the page in the auto-replies, make sure to turn off the employee's office reply.

Maintain the Calmness:

The CPA firms are far better than many other businesses to deal with the downturn of the economy. In turn, the clients in the firm looking for reassurance and information kept being calm, which is collected from the accountants.

Communicate the financial situation of the firm with the employee:

Most of the companies struggle during this pandemic time which leads to furloughs and layoffs. It's essential to communicate with the team how the firm is going (in the right direction or the wrong).  

Conclusion:

As with the pandemic Coronavirus, a sudden unhealthy environment created across the world and most people were not prepared well to challenge this crisis. Many firms and organizations were not prepared to handle this type of situation. But, one positive aspect is that we can make use of this critical time. There is no need for infrastructure for the office and not required to enact the necessary measures of time. For the firms which do not have the proper infrastructure and materials, it's a golden opportunity for them to incorporate all the essential things.

Simandhar Education:

Simandhar is the official partner of Becker and AICPA - Largest Training provider for US CPA, US CMA , IFRS and EA courses in India with offices in Bangalore, Hyderabad, Delhi, Ahmedabad, Gurgaon, Kerala, Cochin (Kochi), Trivandrum, Kottayam, Kozhikode, Malappuram, Chennai, and Mumbai.

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Author Bio:

Anji Velagana is the Content Strategist at Simandhar Education and has 2 years of experience in content writing and blogging. He loves pursuing excellence through writing and has a passion for technology & educational content. Contact him on LinkedIn.

 

Comments

  1. Zaki khan

    Thank you for the interesting blog.

  2. Anisha

    Great article!

  3. Salini burnwal

    It is a great article that can help the CPA aspirants as well

  4. Anju Rathore

    Thank you for sharing!!

  5. Aakanksha

    Important informations, thanks for sharing!

  6. Shipra

    Helpful insights

  7. Ashutosh

    Helpful insights for the CPA firms during this pandemic. Thanks for sharing

  8. GAURAV YADAV

    Thanks for the information.

  9. GAURAV YADAV

    Interesting stuff to read. Keep it up.

  10. Anju Rathore

    well explained!!

  11. Shubham Manapure

    Very important steps are taken by the CPA firms

  12. suma

    Great Blog, Thanks for Sharing......

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