Accounting and financial reporting impacts of COVID-19

A cross-discipline team will provide insights on the latest accounting and financial reporting developments, disclosure issues, recent SEC actions and income tax accounting ramifications of the CARES Act.

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Understanding the COVID-19 stimulus package

Our cross-discipline professionals will explore the most relevant provisions of the COVID-19 stimulus package and the impact on business.

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Respond and Restore
How we can help
Respond and Restore
Times of uncertainty require resiliency and fast decision-making. Organizations are unpacking the impact of COVID-19 on their business and clarifying which elements of the economic stimulus package can help most. Top of mind for many are liquidity and cash management, supply and demand, labor concerns, and factors such as regulations and political changes. Businesses need advice that enables solutions to respond and restore. Grant Thornton is here to help keep you going.

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Grant Thornton listens and assists
Whatever you need to steer through the disruption from COVID-19, Grant Thornton is here. First, we listen ̶ whether you have to navigate tax or accounting implications, safeguard trust and value, or adapt to a remote workforce. Then we help. We assist in identifying and mitigating risks and offer solutions to your specific challenges.
How we can help
We’re here to listen and assist
Whatever you need to respond to the disruptions from COVID-19, Grant Thornton is here for you. First, we listen—whether you have to navigate tax or accounting implications, safeguard trust and value, or adapt to a remote workforce. Then we help. We can assist you in identifying and mitigating risks and offer solutions to your specific challenges.

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Solutions for working capital and liquidity & solvency

  • Tax savings - review the new economic stimulus and other areas to identify tax savings and opportunities.  
  • Cash cycle optimization – Review cash cycle processes to optimize performance across the cycle and improve working capital.  Coming soon
  • Cash flow and liquidity assessment – Develop cash flow forecasts and assess opportunities to enhance liquidity and balance sheet strength.  
  • Managing enterprise licensing & cloud spend – fully evaluate premise and SaaS licensing before making decisions to optimize your spend while freeing up liquidity.  
External factors
Solutions for regulatory, political changes, currency valuation and other major disruptions

  • Economic stimulus - Assess opportunities to maximize benefits from the new economic stimulus including tax credits and savings, accounting and financial reporting implications and access to various funding programs.   Learn more about the and
  • Impairment testing – Reflect impact on business valuations, review indicators that trigger impairment testing / asset impairment disclosure in quarterly reporting.  
  • Accounting advisory – Assess potential adjustments to accounting estimates, financial statements and disclosures to reflect the current economic uncertainty.  
  • Manage planned and in process construction projects – determine how external mandates and project-specific information impact your overall project oversight and governance.  
Payroll complexity
A global workforce brings complexity for employers and payroll management is a key challenge. Our U.S. and international teams support companies in managing local obligations and shadow payroll to help companies report and pay taxes accurately across international locations.
People & labor
Solutions for labor dependencies and human capital

  • Remote workforce enablement - Identify opportunities to enhance remote workforce operations, monitoring and technology.  
  • Tax consulting – Prepare for the new Paid Leave Law and claim applicable payroll tax credits.  
  • Human capital management – Model labor costs for improved human capital management and lead change amongst employees thoughtfully.  
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In many business sectors, internal negligence causes the majority of security incidents. We can help you shore up this weakness and efficiently enforce regulations by coordinating your processes, policies and technologies into an identity and access management framework.  
Supply & demand
Solutions for supply chain execution and demand management

  • Supply chain optimization - Assess disruption impact on the supply chain to quantify the sales and working capital at risk and take immediate recovery actions. Coming soon
  • Supplier solvency – Identify critical suppliers and determine spend in play; evaluate ability to perform and risk of insolvency; develop action plans. Coming soon
  • Customer demand – Reconcile major changes in customer demand by channel / client; frame the supply chain impacts; update terms for risky customers.  

How to define and respond to your pandemic risks

Our fast, data-driven assessment quantitatively determines your pandemic risks and offers focused resiliency plans to protect your business, customers and shareholders.

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