Aspectele ESG sunt esențiale pentru reziliența afacerii tale

Pandemia a amplificat importanța aspectelor ESG (de mediu, sociale și de guvernanță). Părțile interesate își doresc mai multă transparență cu privire la modul în care organizațiile își gestionează riscurile ESG și le integrează în strategia de afaceri. Factorii ESG dețin un rol important în capacitatea organizației de a crea valoare. Obținerea de rezultate presupune crearea de valoare pentru toate părțile interesate, nu doar pentru acționari. Parametrii ESG vă pot ajuta să recunoașteți momentele în care strategia de afaceri are nevoie de o revizuire și să identificați practicile care pot fi asociate cu riscuri viitoare și modul în care acestea pot fi transformate în oportunități pentru a obține un avantaj competitiv.

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The future of the accounting profession

The accounting profession, like all professions, is going through a period of evaluation of its future position as a result of the many changes in the cultural, technological and working environment. In particular, the profession is witnessing a threat to its future viability posed by three challenges: the challenge of attracting new specialists, the challenge of relevance and the challenge of change. These challenges are related to the nature and definition of the profession, and overcoming them is vital for its future.

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The accounting profession in the new normality

Each generation goes through a defining moment. Undoubtedly, the COVID-19 pandemic is an unprecedented crisis that will largely change the economic, social and political systems we knew until now. The accounting profession is no exception to this wave of change and will undergo a long-term transformation. However, according to studies by industry bodies such as CAPA (Confederation of Asian and Pacific Accountants), the outlook for the accounting profession and professional accounting organizations is not bleak. According to the data obtained, their financial sustainability is not jeopardized in the long run, there are a large number of development and adaptation opportunities even in the current uncertain environment, and the digitization process will continue to grow and contribute to both development efforts, as well as to increase the attractiveness of the field among the new generation.

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Risk management in SMEs: Insolvency

Every year, around 200,000 companies go bankrupt in Europe, resulting in the loss of more than 1.7 million jobs. The health crisis caused by the COVID-19 pandemic and the economic downturn have exacerbated the situation, placing an unprecedented burden on small and medium-sized enterprises in Europe. The most difficult moment has not yet taken place, as governments will at some point cease to provide financial support to the business sector. Accountants can be an essential help for SMEs in difficulty, ensuring that a business is run in a sustainable manner and identifying and contributing to the effective resolution of insolvency risks that are increasing in the current context.

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Expert opinion: the demand for professional accountants is higher than ever

The economic crisis caused by the COVID-19 pandemic has led to the loss of many jobs, including among professional accountants. However, in the opinion of Evelyne Blain, professional accountant and director of development at CPA Quebec, the year 2021 seems very favorable to practitioners in the field of accounting. She points out that, in this highly volatile environment, professional accountants are considered reliable advisers whose experience and skills are particularly important. Although the pandemic will be present during 2021, professional accountants will have the chance to demonstrate their ability to adapt and contribute to the modernization of the business sector.

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It is time to rebuild improved corporate governance

In the first podcast of 2021, Accountancy Europe invites Mathilde Mesnard, Deputy Director of Economic and Financial Affairs at the Organization for Economic Co-operation and Development (OECD), to discuss corporate governance, a topic of global interest. She looks at the changes companies have implemented to become more responsible and sustainable, but also stresses the need for a more radical transformation. This transformation is based on a change of system and a reorientation of priorities on environmental, social and governance (ESG) issues.

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The most important risks for the business environment in the post-COVID-19 period

Although many companies have reinvented themselves and quickly adapted to the new circumstances imposed by the COVID-19 pandemic, gaining additional market share, not all have achieved this performance. Also, not all companies will benefit from the expected economic recovery. The business environment needs to be prepared for a number of challenges in various areas that will follow in this volatile recovery period. It will need to strengthen and constantly review its risk mitigation strategies to improve its resilience to future shocks.

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Professionals, in the public interest (II): The role of the accounting profession in Romania's resilience

The series of shows Professionals, in the public interest dedicated to the role that the accounting profession can play in ensuring Romania's resilience continued on Thursday, December 3, 2020, on CECCAR TV, with the dialogue between Adrian Câciu, economic analyst, representative of the Social Democratic Party, and prof. univ. Dr. Robert-Aurelian Șova, President of the Superior Council of CECCAR.
On this occasion, Adrian Câciu stated, regarding the PSD's governing strategy, that no normative act will be adopted without prior consultation with all stakeholders, and explained the vision of this political party in terms of how they can to involve the liberal professions in the process of elaborating and implementing public policies.

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Professionals, in the public interest (I): The role of the accounting profession in Romania's resilience

Thursday, December 3 this year, a new edition of the show Professionals, in the public interest was broadcast by CECCAR TV. The role of the accounting profession in Romania's resilience was the subject of discussion.
Dan Barna, co-president of the USR PLUS Alliance, and univ. Prof. Dr. Robert-Aurelian Șova, President of the Superior Council of CECCAR, expert accountant, discussed during the show the objectives of the governing program of the USR PLUS party and the vision of the party on the involvement of the liberal professions, in particular the accounting profession, in achieving these objectives, in the public interest.

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Corporate governance for a sustainable recovery

Accountancy Europe provides professional accountants and stakeholders with a podcast whose guest is the organization's CEO, Olivier Boutellis-Taft. The theme of the podcast is the importance of corporate governance in paving the way for a sustainable economy. Olivier Boutellis-Taft emphasizes the urgency of the current environmental, social and governmental crises that became even more evident with the outbreak of the COVID-19 pandemic. At the same time, it explains how sustainable corporate governance can be fundamental to the functioning of businesses and economies.

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November 24-27, 2020: Romanian Business WeekExploring doing business in Romania

The webinar series will take place online from November 24-27 this year Romanian Business Week: Exploring doing business in Romania, organized in collaboration by the Dutch Romanian Network (DRN), the Netherlands Romanian Chamber of Commerce (NRCC), NL.In Business (an organization dedicated to promoting international relations) and the Romanian Embassy in The Hague.

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IFAC & MOSAIC: Forum Building resilient and sustainable economies

Between December 7-11, 2020, IFAC will organize, in collaboration with the MOSAIC Steering Committee, the online forum on Building resilient and sustainable economies. The event will examine the opportunities for the accounting profession to support emergency response and a strong public health sector and will highlight the importance of accrual accounting for economic recovery, IFAC said in a statement.

The forum will also discuss the digital transformation of the accounting profession in the context in which COVID-19 has accelerated the use of technology, as well as how professional accounting bodies can collaborate with development partners in their jurisdictions. According to IFAC, professional accounting bodies have the potential to support high-quality financial reporting in the public and private sectors and to facilitate the transformation of the way public finances are managed, given that the COVID-19 pandemic and the economic recession have required significant interventions by governments around the world. For more details and registration, please visit the page dedicated to the forum.

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4 things that will redefine the way we work until 2025

The COVID-19 pandemic has redefined our present, bringing both a significant degree of uncertainty and a wave of change that affects our lives in all its aspects, including the way we conduct our work. The World Economic Forum has identified 4 changes that will redefine the way we work in the next 5 years. Work from home, "green" jobs, the temporary job revolution and automation will be the four vectors of labor market change.

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Amy Vetter, CPA Canada: We are at an important time in the evolution of our profession

Amy Vetter, professional accountant, speaker at National Technology Forum 2021, an event organized by CPA Canada, scheduled to take place in January next year, discusses, in an article published on the Canadian organization's website, the benefits of technology for the accounting field and sets out the reasons for creating a positive accounting environment. work in the context of the COVID-19 pandemic and after this period. In her opinion, now is the right time for the accounting profession to self-evaluate and outline a new perspective.

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IFAC has developed a tool to assess the level of readiness of PAOs for digitization

Given the importance of digital transformation for the sustainable development and resilience of professional accounting organizations (PAOs), IFAC, in collaboration with cloudThing, has created a tool to assess the level of readiness of PAOs for digitalisation. 19 and the current crisis generated by it have accelerated the need for ODPs to use digital technologies to create new business processes or to modify existing ones, including in relation to members and learners. IFAC supports member organizations in their approach to make the most of technology, by providing resources and expertise. IFAC member organizations can access this tool through links provided to each organization.

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World Bank: Millions of people will be in extreme poverty by 2021

The World Bank (WB) estimates in a report recently published that about 150 million people will be in extreme poverty by 2021 as a result of declining incomes caused by the pandemic. Given that companies and employees globally have been affected by the COVID-19 pandemic, the WB warns that without a series of prompt support measures and coherent policies, “healthy” companies will collapse, leading to other consequences in chain for employees, collaborators, other stakeholders, etc.

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Evolution of accounting skills: the effects of the COVID-19 pandemic and the way forward

Like any other profession, the accounting profession will change as a result of the crisis caused by the COVID-19 pandemic. Professional accountants will become familiar with digital processes once considered impossible. Their change management skills will be stronger than ever. The way in which the accounting profession will anticipate the future will be shaped by experiences that we would hardly have imagined could take place.

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Coming soon: a tool to assess the level of readiness of PAOs for digitalisation

Digital transformation is essential for the sustainable development and resilience of professional accounting organizations (PAOs). Although this process is a long-term one for most of these organizations, the COVID-19 pandemic has accelerated the need to use digital technologies to create new business processes or to modify existing ones. Given the importance of digital transformation for ODPs, IFAC has taken a two-pronged approach to assisting its members through a partnership with cloudThing with the aim of creating a tool to assess the level of readiness of OAPs for digitalisation.

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SMEs: What's next?

Accountancy Europe makes a podcast available to professional accountants and other business stakeholders with Martin de Bie, the digitization expert from the Accountancy Europe team dedicated to SMEs. Martin de Bie discusses the digitalisation transition that SMEs are going through and how the adoption of digitalisation is the best chance for them to remain competitive in a modern economy. Through this podcast, Accountancy Europe also broadcasts a series of tips to help SMEs avoid collapse in the post-Covid period and maintain a sustainable growth rate.

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Risk, scenarios and reporting: 3 key areas where accountants can promote climate action

IFAC and ACCA hosted, at the end of September 2020, the second annual panel of the event Climate Week, which focused on how accountants can create value in climate emergencies. Starting from the issues discussed last year, this year's discussion was differentiated by approaching the topic in the context of the current COVID-19 pandemic. Although climate risks will be present long after this pandemic, the current epidemiological context makes it difficult to fight them. The role of accountants in this fight is mainly focused on supporting companies in improving their climate risk assessments, the quality of information provided, reporting and scenario analysis. The discussion in the panel can be watched on IFAC's YouTube channel.

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How has the pandemic affected the way accountants work?

Organizations have had to adapt to significant changes to cope with the COVID-19 pandemic and its consequences. As far as professional accountants are concerned, the circumstances may never be the same. Important changes that have taken place include the acceleration of the decision-making process due to the increased degree of uncertainty, the increase in investments in technology to facilitate remote work and the maintenance of customer relations and not only, the adaptation of audit services to new restrictions on social distancing, etc.

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The leading role of the investor: Identifying new tools for building a resilient future

The COVID-19 pandemic has created challenges for all sectors, from governments to businesses and individuals. Investors, from their position as capital providers, play an important role in terms of the influence they exert on the business environment and the economy. During this period, the platform Shaping the future of investments of the World Economic Forum brought together people with leadership positions in the investment sector, through a series of meetings and interviews, to identify key challenges and ways in which investors can take the lead in the future recovery process.

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In the face of economic turmoil, professional accountants focus on improving skills

According to experts, the focus on big data and technological innovation will help prepare financial professionals for the challenges facing the industry. As the COVID-19 pandemic generates unprecedented uncertainty, professional accountants are focusing on improving their skills in order to overcome the current economic turmoil. The development of digital skills and those related to the management of large volumes of data is the main target category.

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Technology: Risks and opportunities

In the first part of 2020, ICAS conducted a series of interviews with accounting professionals on the challenges and opportunities that technology generates in the accounting profession. Most of the subjects involved in the interviews were practitioners from companies of different sizes, but technology specialists without knowledge in the field of accounting were also interviewed. Some of the interviews took place in the context of isolation measures imposed at UK level, which extended the discussion to the topic of the importance of using technology in ensuring business continuity.

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What COVID-19 has shown us: corporate governance needs to focus on important risks

Is corporate governance just a set of rules that we have to follow no matter what? Some seem to believe this, focusing only on the burden and cost, the accountancyeurope.eu blog reports. However, they fail to perceive the added value generated when there is good governance. Crisis situations, such as the COVID-19 pandemic, have shown us that there is a need for a change of priorities and an identification of risks that are truly important and that are capable of producing large-scale and possibly irreversible effects.

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Deloitte study: CEOs share business perspectives in the context of COVID-19

The crisis generated by the COVID-19 pandemic  it is in many ways a catalyst, accelerating some existing trends and slowing down others, according to a recent study by Deloitte. The pandemic has initiated a structural change in terms of work, the workforce and the location of activities. In the midst of these changes, the CEOs consulted in the study by Deloittese are optimistic and see this period as full of opportunities.

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CPA Australia: Model of recovery from the health and economic crisis

As most companies have assessed the damage caused by the crisis and have already taken the first remedial action, they should allow time for an assessment of the pre-crisis situation. Knowing the financial situation of companies and how they operated before facing difficulties will provide important details on the steps required in the recovery process.

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Actions taken by CFOs to manage challenges and protect companies

On September 10 this year, the research and consulting company Gartner is organizing an online seminar on the actions taken by CFOs and their responses to the pandemic crisis. In recent months, CFOs have faced unprecedented pressure to take swift and decisive action to protect companies and their employees. Gartner works with more than 1,000 CFOs to understand their responses to this crisis and to determine what facilitates success in this difficult context. The experiences shared by the CFOs can be accessed by participating in the mentioned seminar.

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HSBC Bank: Report on the resilience of companies during the pandemic

HSBC Bank released a report that looked at more than 2,600 companies globally to identify ways they can handle the unprecedented crisis caused by the COVID-19 pandemic. The report shows that, despite an extremely difficult first half of 2020, companies have shown great resilience, many of them in the process of transitioning to a more sustainable future strategy.

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19 prospects to consider for better resilience in the second wave of COVID-19

The crisis generated by the new coronavirus has given us many lessons on increasing business resilience, starting with issues related to leadership and continuing with those related to technology, human resources, operations, etc. The management of organizations must take control of the situation in such times and respond to the crisis with careful planning and supervision that will allow them to adapt as circumstances evolve.

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OECD: A sustainable and resilient recovery following COVID-19

In order for the economic recovery from the COVID-19 crisis to be sustainable and resilient, a return to old practices and destructive activities must be avoided. To this end, economic recovery packages need to be designed to rebuild better, which means changes in investment strategies, but also in civic behavior, which will reduce the likelihood of future shocks and increase resilience to them when place.

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Remote work and uncertainty caused by COVID-19 affect auditors

Accounting firms are currently facing new challenges related to inventory, conducting evaluations, analyzing changes in internal controls and identifying the evidence needed to prepare documents. Limiting the auditor's access to information may lead him to question a company's ability to continue to operate, which will affect that company's relationship with creditors, customers and other stakeholders.

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How the pandemic of COVID-19 affects the asset and wealth management industry

The asset and wealth management industry could be considered a leader in the economic environment as a whole, given the close link between revenues and capital markets. The document prepared by PwC identifies some of the risks faced by this industry in terms of finance and liquidity, human resources, supply chain, etc.

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COVID-19 pandemic response policies

The World Bank has taken stock of all the measures taken by the world's states in response to the COVID-19 pandemic and the financial crisis it has generated. The measures identified are in the fiscal, legislative, economic fields, and the information related to them comes from public sources or is provided by the authorities. The information shall be updated by 31 July 2020 inclusive.

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Key risks posed by the COVID-19 pandemic

The paper outlines some of the key risks posed by the COVID-19 pandemic that accountants, risk managers and other directors who are on or are advisors to boards of directors need to consider, regardless of size, nature and complexity. company.

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Company Insolvency Report: Answers in the Context of the COVID-19 Series of Publications Global Guide: Measures Taken to Support Companies in Trouble During the COVID-19 Crisis

Economically, the COVID-19 pandemic has primarily affected companies. In an attempt to mitigate the economic impact of the pandemic, governments and other global authorities have implemented numerous crisis management measures, many of which refer, directly or indirectly, to corporate insolvency. This report provides an overview of the measures taken globally in relation to the insolvency of companies and highlights some similarities and differences between them.

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Public integrity for an effective response and recovery in the context of COVID-19

Public integrity is the key to a resilient response to the crisis caused by the COVID-19 pandemic because it provides assurance that government action is being taken for the benefit of those in difficulty. This publication briefly discusses key integrity issues and recommends measures that can help governments ensure an adequate response to the COVID-19 crisis and an effective recovery.

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Boards during the COVID-19 pandemic

Boards need to find a balance between supporting management teams working under stress and encouraging them to make the best decisions in the context of a crisis for which there are no rules yet. They must live up to expectations and guide their organizations to the new normal.

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Supporting companies with financial problems to avoid insolvency during the crisis caused by the COVID-19 pandemic

The slowdown in economic activity as a result of the COVID-19 pandemic and the related emergency measures implemented to manage the health crisis have created severe difficulties for companies, many of which are on the verge of insolvency. National authorities may take a number of measures set out in this article to avoid this scenario.

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Coronavirus crisis: measures for the public sector

The crisis generated by the COVID-19 pandemic resulted in the fastest generation of government financial resources, except for situations related to conflicts, wars. Most governments have developed support programs with admirable speed. This article provides ideas on how the public sector can counteract the short- and long-term effects of the crisis.

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A series of podcasts on post-COVID-19 recovery, provided by CPA Australia

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How environmental, social and governance (ESG) issues are discussed in boards in the context of the COVID-19 pandemic

It could be assumed that this crisis caused by the pandemic will forever shift attention from environmental, social and governance (ESG) issues, but in fact, the actions taken by companies will bring them even closer to the principles underlying ESG base. This article initiates a discussion on the place of ESG in the agenda of boards in the current context.

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Public interest responsibilities must remain paramount in the context of COVID-19

In this article, OECD experts and opinion leaders from around the world and in various fields address the effects of the crisis caused by the COVID-19 pandemic, proposing solutions for the present and the future.

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