The American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) have launched a Business Resilience Toolkit.
The resource is designed to help finance professionals and business leaders navigate the complexities of the current economic landscape.
The launch comes at a time when businesses are facing various challenges including fluctuating economic conditions, geopolitical strife and technological disruptions.
The toolkit provides a suite of resources that includes frameworks, actionable tools and questions designed to prompt deeper analysis.
These materials are intended to assist organisations in three primary areas: scanning the external environment for potential risks; assessing the impact of economic changes on their operations; and adjusting strategies to remain robust in the face of uncertainty, while also identifying new opportunities for growth.
The toolkit addresses several key themes such as comprehending economic and policy risks, integrated thinking within organisations, tracking critical performance drivers, and enabling a swift and informed response to changes.
The toolkit insights are also applicable to business leaders, enabling them to evaluate the repercussions of market conditions on their company's strategy.
AICPA and CIMA business growth & engagement EVP Tom Hood said: “With record numbers of businesses failing or under financial pressure, access to strong financial management expertise can make the difference between survival and failure. Financial business partnering is essential to navigating uncertainty.
“The Business Resilience Toolkit equips accounting and finance professionals to act as strategic advisors and critical business partners.”
Recently, the AICPA reported that 32% of Americans are potentially unprepared for financial disruptions that could result from natural disasters.
“AICPA and CIMA unveil new resilience toolkit for finance leaders ” was originally created and published by The Accountant, a GlobalData owned brand.
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