The American Institute of CPAs and Chartered Institute of Management Accountants have published a Business Resilience Toolkit to help finance professionals and business leaders cope with economic uncertainty and challenging conditions.
The document discusses how to deal with risks such as inflation, stagflation, geopolitical tensions, tax policy changes, and more. The Business Resilience Toolkit offers tools, strategic frameworks and prompts to help organizations scan the external environment more clearly; evaluate how economic shifts impact operations; and adapt strategies to avoid uncertainty and seize new opportunities.
“With record numbers of businesses failing or under financial pressure, access to strong financial management expertise can make the difference between survival and failure,” said Tom Hood, executive vice president of business growth and engagement at AICPA & CIMA, in a statement. “Financial business partnering is essential to navigating uncertainty.”
The Business Resilience Toolkit helps accounting and finance professionals to act as strategic advisors and critical business partners. It explores areas including:
Understanding economic and policy risks;Developing integrated thinking;Identifying and monitoring key drivers;Enabling proactive response; and,Utilizing strategic tools and exploring opportunities.
It’s aimed at accounting and finance professionals in both corporate settings and those working in firms, providing a set of prompts to help evaluate how shifting conditions could affect their business model, strategy and operations.
