Accountants poised to help firms during difficult times

City AM ’s Ian Hall argues that good accountants’ services “have heightened relative value in these tough times,” noting that businesses would be well advised not to give in to the temptation to cut back on accounting costs.

Mike Suffield, director of professional insights at the ACCA, says: “Accountants help navigate the Government support available, manage liquidity and cashflow in the near term. They will build forecasts and review business models as organisations adapt and look to identify opportunities as they and the economy emerge from the pandemic,” while Michael Izza, chief executive of the ICAEW, says chartered accountants have been “looking to see what can be done from firms’ own resources, then looking at what government schemes can help.”