Business continuity & contingency planning: Audit and advisory

Unforeseen or sudden major disruptions to business as usual, such as the coronavirus, extreme weather events and other environmental factors, can result in business owners and employers facing significant continuity challenges. 

Not only do we have a vastly experienced business continuity audit and advisory team, we will also examine the results we find to offer solutions in these uncertain times and look ahead to assist in your contingency planning. 

Our dedicated Business Continuity team is made up of experienced specialists whose pragmatism has earned the firm a strong reputation for delivering commercial results, delivered into one seamless service.
RSM has several management accounting advisory and support services which can help you mitigating the adverse effects of this Covid-19 crisis.

Financial reporting

Financial reporting is becoming more and more complex, which can mean even seemingly simple transactions can have complex reporting ramifications for your business. Given the recent overhaul of Irish and UK GAAP and other frequently changing regulations, our team can help avoid adverse effects in navigating troubled waters . Your accounts are a window to your stakeholders, including investors, lenders, suppliers and customers. We can:

  • lend you a hand with our tailored financial reporting support service;
  • help you understand how FRS102 will affect you; and
  • take the stress out of IFRS, by using our specialist team to optimise your reporting opportunity.

 Accounts prepartionand management formation

Our team knows that to make business decisions during uncertain times, you must have confidence in the information on which you base them. Working with poor management information can lead to a lack of clarity and control. We can put a set of figures into perspective and help you to determine what the management accounts say about the performance and state of your business towards minimizing your risk of operational and commercial exposure.

Profit improvement, forecasting and cash-flow projections

Maintain continuity during times of crisis can be difficult so you need to be able to focus on the most profitable areas of activity. As we assist with your management accounting, we can also help you to:

  • assess the key performance criteria in your business and explore ways of improving the monitoring of key performance data;
  • assess the impact and likelihood of key risks and define appropriate actions; and
  • accurately present budgets and forecasts for a wide range of users, helping to build confidence and foster business growth.

Strategic planning

It is often hard to step away from the day-to-day running of your business, especially during major disruptions to business-as-usual. However, having a defined and articulated strategy that is implemented in a highly responsive way is a key factor in achieving increased business profits and value. RSM’s business continuity advisors can work with you as part of a facilitated process to help you by:
developing an effective business strategy to articulate and focus on the areas of priority necessary to mitigate risks during situations such as the coronavirus outbreak;

  • providing you with a recorded plan to implement;
  • conducting an annual strategic review to assess what has changed, and updating your plan accordingly;
  • assisting with communicating corporate and team agendas around your crisis communication plan; and
  • helping you maximise team performance.

Our dedicated Business Continuity team can support you by acting as a sounding board. By having separate ‘big picture’ meetings, we can explore any issues and opportunities or simply take time out to focus on your contingency plans.

Please do not hesitate to contact us for a discussion as to how our advice and support can benefit your organisation. The Business Continuity team at RSM, provides innovative solutions to clients involved in critical continuity situations, allowing them to minimize costs, enhance value and properly position themselves for the future.

Through these uncertain and critical times, our multi-disciplinary Business Continuity team can advise on a full range of continuity planning and resource services. We can harness our expertise across audit and advisory, tax, transaction and management consulting, to work with your people towards minimizing your risk of operational and commercial exposure to help you serve your clients.