The Impact of COVID-19 on the Finance Function

This report, supported by a worldwide survey of finance and accounting professionals, examines the impact of the pandemic on the finance functions of organizations around the world. It describes the impact of the pandemic on companies’ revenues and staffing levels, finance performance priorities, the areas within which finance professionals are wanting to upskill, and problems associated with reskilling.

Key findings include:

  • An all-inclusive decline within the revenue of firms, with terribly giant ones (those with quite $10 billion in revenue) possibly to report a substantial decline.
  • Companies within the U.S. were the smallest amount doubtless to own reduced the scale of their employees, followed by China and Bharat. Those within the geographic area were possibly to own a reduced employees size.
  • Most survey respondents had a discount in their compensation, either in wage, bonus, or both, though the impact of the pandemic on compensation varied considerably by country.
  • There is important concern on whether or not current skilled skills can still be relevant within the post-COVID-19 era. Most survey respondents are engaged in raising their skills, or about to do thus, across a good variety of domains.