The State of Emergency that had paralysed the business fabric, economy and our lives drew to a close on 21 June. Returning to activity, which is not to say normality, has made us want to take up everything that was put on the back burner all those months. Click & Tweet!
We can’t forget that this situation has also brought changes, in the way we live, work and connect. Thanks to the technology available today, many sectors have been able to weather the situation and continue providing their services to clients, and in some cases with unexpected success.
Specifically, with multidisciplinary firms like Kreston Iberaudit, it has been surprising and admirable how nearly all the sector was prepared and totally organised to tackle the challenge of carrying on with our professional management services over these difficult months. And it’s not a temporary restructuring. No, it’s about taking on board the new methods and ways of working this situation has led us to and that we will have to live with for some time still. Click & Tweet!
It is already normal that our firms have not only implemented but fully normalised telecommuting, through highly advanced digital transformation processes, to foster business management, decision-making and monitoring of our clients while they are physically distanced from their professional environments and workplaces.
Because now, more than ever, we’ve showcased the importance of our work. Click & Tweet! Multidisciplinary firms have been and continue to offer, as has been recognised, essential services to keep the country’s economy running.
A very high percentage, over 75%, of Spanish companies get funding through lines of credit and banks offer better access to credit when the companies are audited.
Under the framework of the Professional Auditor’s Forum, the Col·legi de Censors Jurats de Comptes de Catalunya (Catalan Association of Chartered Accountants) and the Instituto de Censores Jurados de Cuentas de España (Spanish Institute of Chartered Accountants) requested a “lowering of the legal limits for auditing companies” and highlighted that audits will play “a key role” in winning back trust and in economic growth.
And one of the conclusions of the first virtual session, on The effects of Covid-19 on financial information and the connection to the work of Chartered Accountants, hosted by the Spanish Registry of Chartered Accountants (Registro de Expertos Contables, REC), highlighted “the significant role auditing is playing right now, demonstrating the accuracy of financial information.” At a time when “the economic damage being caused by the pandemic is already being reflected in annual accounts and in the financial and non-financial information arising from them.”
There is no question as to the importance of companies’ financial and non-financial information in tackling the road to recovery Click & Tweet! , knowing the status of their accounts is essential for making decisions at this time.
And, faced with all these challenges and new scenarios, we are here, restructured to face the future from the current situation and willing to use our work to help recovery start now.
First though, as much as possible, it is time to take a step back, to disconnect, relax and recharge, so we can face the future with optimism and motivation and see through the personal and professional projects we all have under way or in mind.
Good summer everyone.