WHERE ARE WE NOW?
Additional legislation surrounding PPP loan forgiveness and payroll tax deferrals could have a major impact on clients facing bankruptcy, turnaround or restructurings going forward.
Our clients are looking to us to help model and forecast their cash flow needs. Proactive financial modeling and forensic accounting with data analytics have been big in helping our clients avoid a bankruptcy, when possible.
We anticipate helping our clients with financing sources, whether that means supporting current banking relationships or seeking new financial partners during this economic crisis.
HOW DID WE GET HERE?
The anticipation of recessionary pressures with regard to the pandemic has forced clients to take a hard look at their cash flow and other business processes.
In some cases, downsizing has created the need to outsource accounting services and other back-office support functions. Through outsourced accounting, we also help clients address the additional reporting requirements that comes from working with a bank or creditors through a restructuring process.
Clients look to us as their trusted partner and they expect us to guide them through these business challenges. Our team jumped at the opportunity to become experts in the CARES Act, PPP and other legislation, which has proven invaluable to our clients.
WHERE ARE WE GOING?
Partnering with clients through a turnaround, restructuring or bankruptcy is one way our COVID-19 Business Response Services team is helping clients face disruption, resilience or growth. We have a number of transaction advisory, tax and business performance consulting professionals with 20+ years of C-level corporate restructuring and bankruptcy experience. We’ve added additional outside expertise to strengthen our firm’s ability to consult on all matters related to business processes.
Click here to download these insights as a PDF.
For more insights on Bankruptcy, contact:
Bryan Graiff, CPA/ABV/CGMA, CVA, CFE, CM&AA | Partner in Charge | Brown Smith Wallace
Moore NA Consulting Marketplace Service Provider
bgraiff@bswllc.com
Bankruptcy is just one offering available in the Moore North America Consulting Marketplace. To learn more about this resource and how you can incorporate it into your service offerings, contact Lauren Williams (lwilliams@moore-na.com).