The COVID-19 pandemic and national lockdown have affected all businesses in a number of ways. RSM have been running a webinar series to assist your business to weather the storm. Details of each webinar are below, with links to watch the recordings.
Legal considerations & commercial agreements
Many organisations may be faced with significant legal issues in respect of the workplace and commercial agreements following the COVID-19 pandemic. This webinar will cover:
- Workplace issues:
- Employer’s Duty in light of COVID-19
- Working From Home
- Leave entitlements resulting from employer imposed quarantine, self-quarantine and/or government imposed quarantine
- The effect of a government imposed closure of business on the employment relationship
- Navigating commercial contractual obligations with regard to partial performance, non-performance or disruptions
Significant ripple effects have already been experienced by businesses around the world following the global transmission of COVID-19, which is choking global supply chains, altering the way businesses operate and affecting people’s everyday lives.
In this webinar we look at some immediate business continuity actions and technology considerations that can help your organisation brace for the weeks and months ahead, such as:
- A crisis communications plan
- Identification of operational essentials
- Evaluation of staffing strategies
- Implementation of remote work policy
- Understanding vendor dependencies
In light of the recent events, businesses have been forced to adjust the manner in which their operations are conducted very quickly. In this new and uncertain environment, what is expected from directors and how does this impact the fiduciary duties of the directors?
We will be exploring the above questions, with particular focus on the following:
- The provisions of the Companies Act 71 of 2008;
- The King IV Report on Corporate Governance for South Africa 2016; and
- The requirements of good corporate governance.
Exceptional Tax Measures arising from the COVID-19 Pandemic
In President Ramaphosa's speech to the nation on 23 March 2020, he announced certain economic interventions, including specific tax measures that would be put in place as a result of COVID-19.
In this webinar we look at these tax measures and how these impact on and can be applied by businesses.
In particular we will consider:
- Tax relief mechanisms announced
- VAT and Customs Duties
- U.I.F. Benefits
- Potential exposures to penalty and interest provisions
Accounting considerations due to COVID-19
The effects of COVID-19 will ultimately be reflected in all companies’ financial statements. Whether you are currently preparing financial statements for December, February or March year-ends, or will only be reflecting the recent events in future financial statements, you will have to consider questions like:
- Impairment – is inventory still fairly valued? What about the carrying values of property, plant and equipment, receivables or even goodwill?
- How do you account for recent events if the accounting period ended at the end of 2019, i.e. before the effects were truly felt in South Africa? Do they need to be accounted for at all?
- If COVID-19 creates or increases uncertainty about the ability of the business to continue, what needs to be communicated in the financial statements?
- How is everything else disclosed in the financial statements?
The accounting profession in South Africa and internationally has been hard at work trying to find answers to these questions and we will share the latest thinking with you.
Cybersecurity and privacy considerations for your remote work environment
The way the country works has changed in a very short amount of time, with many companies shifting to remote work policies to keep employees safe during the coronavirus pandemic while attempting to stay as productive as possible. Often, organisations are not experienced with such a rapid culture shift. When making that transition, they must be careful not to create any potential security vulnerabilities.
In this webinar we will take a look at some of the key privacy and cybersecurity risks, challenges and solutions to securing your remote work environment.
Part 1: The impact of COVID -19 on B-BBEE and transformation
The effects of COVID – 19 will have far reaching effects on businesses, both large and small. Many clients have asked us to relook their B-BBEE strategy following the economic fallout from the Covid 19 lockdown. As such, we thought that we would touch base with many of you and revisit certain aspects of the B-BBEE scorecard that may have changed. The webinar would be of particular interest to measured entities whose financial year ends post the Covid 19 lockdown and will cover:
- Ability to pay dividends
- Level of debt attached to B-BBEE shareholding
- Impact on Net Value
- Intervention strategies
- Management Control
- Staff reductions
- Due process
Part 2: The impact of COVID -19 on B-BBEE and transformation
The effects of COVID – 19 will have far reaching effects on businesses both large and small. When preparing for B-BBEE verification post COVID 19 entities will have to consider the following:
- Existing programmes
- New programmes
- ED,SD, SED
- What spend will need to be made
- How will compliance targets be calculated
- “YES” initiative