Accountants exist to ensure the accuracy of financial statements and advise how to save money or boost revenue.
The coronavirus pandemic, then, with its profound and deepening impact on the economy has jolted the profession like all others.
Depending on their role, accountants have been battling to keep on top of the unprecedented flurry of government schemes and announcements, while concerns potentially mount about their own employer’s financial health. Accountants, after all, can be furloughed, too.
With cashflow tight-to-non-existent for many businesses, the temptation to cut back on accounting costs may be too much to resist. But good accountants’ services also have heightened relative value in these tough times.