ACCA Report: The Road to Recovery
Earlier this year, the Association of Certified Chartered Accountants (ACCA) conducted a global survey of over 10,000 finance professionals on the impacts and responses to the pandemic inside a spectrum of businesses. It identifies a wide range of business and financial challenges facing organisations of all sizes and across all sectors.
In follow-up to the Survey, the ACCA produced The Road to Recovery report on how the crisis is evolving, some of the strategies being adopted, and suggests a roadmap for recovery. The roadmap suggests a number of practical steps that organisations can take as they chart a path to recovery and build resilience for the future. The three phases are:
- Act: Focused on the short term horizon and the initial few weeks of response to the crisis, this stage is critical to ensure the current situation is managed properly, continuity plans are brought into place and the well-being of employees is protected.
- Analyse: The shift to the medium term horizon reflects the focus on starting to build the path to recovery. At this stage, the organisation starts to resume its business operations, planned in manageable phases.
- Anticipate: The longer term horizon is focused on innovation and understanding how organisations must evolve in the face of the pandemic. Here the business model and strategies may evolve.
The BRC Business Finance call on 9th September included a presentation from Clive Webb, ACCA Senior Insights Manager, on the findings of the ACCA report (attached). Log-in to view.