CPAs and accounting professionals are known for wearing many hats—but crisis responder isn’t usually one of them. Since COVID-19 began sinking its toxic roots into our country, accounting professionals have stepped up to the front line to provide guidance to individuals and businesses battling financial turbulence.
Committed to Supporting Our Communities
When we consider essential workers, we’re likely to envision those positioned in hospitals or labs fighting to save lives.
CPAs are deemed essential for a reason—specially licensed, these individuals offer unique guidance, serving as an economic sounding board during these especially vulnerable times.
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Translating Complex Legislation
Small businesses rely on accounting professionals to stay afloat as they demystify the complexities of PPP and EIDL loan processes, new payroll credits, and other rapidly evolving legislation.
NCACPA has witnessed a drastic increase in engagement as members seek to better understand these intricacies. During what’s appropriately referred to as “busy season,” CPAs and accountants are working even longer days, consulting one another on the Connect Online Forum at all hours in a determined effort to guide clients.
Providing Budgeting Advice
As with those in public practice, professionals working in industry are committed to sustaining their businesses. Theycontribute investment and outlook advice while leading cost-cutting measures to provide the necessary prudence and redirection of funds to meet the increased demand and expense for remote working technologies. In addition to helping offset revenue decreases and office supplies, these professionals help their organizations by providing advice and guidance on economic relief packages available at the federal, state, and local levels.
Furthermore, accounting professionals are helping individuals receive financial aid by assisting with unemployment claims and explaining the CARES Act.
Despite increased working hours and the challenges that come with working from home, these essential workers are acknowledging and appreciating the good they’ve observed.
On behalf of NCACPA, thank you to our essential workers who are giving more to the community than we could possibly capture in words. Your efforts are sincerely appreciated.
For more information about COVID-19 and related updates and resources, please visit our COVID-19 Resource Page.