State of Accountants Report on COVID-19 Impact

The State of Accountants Report serves as a technical report that evaluates the impact of the COVID-19 pandemic on accounting professionals globally. Compiled from a survey conducted between April 1 and April 8, 2020, the report includes responses from over 1,100 accounting professionals from 18 countries. The findings indicate that firms utilizing cloud-based technology experienced a smoother transition to remote work, with 63% reporting effective handling of the pandemic's challenges. The report categorizes firms into 'Most Successful' and 'Least Successful' based on their preparedness for remote operations and their perceived effectiveness during the pandemic. It highlights that successful firms focused on client communication and adapted quickly to new technology. The report also discusses the future implications for the accounting profession, suggesting that the pandemic has accelerated the adoption of cloud-based solutions, which may influence job expectations and client demands moving forward. Overall, the report aims to provide insights and advice for firms navigating these unprecedented times.