LAS VEGAS, April 7 – For insight and perspective on COVID-19 that aims to help businesses and communities remain resilient and better understand the evolving implications of COVID-19 as they occur, visit the KPMG COVID-19 portal. Working together, KPMG LLP can help business leaders respond with practical and informed approaches to navigate uncertainty and gain clarity in these unprecedented times. Here are a few ways KPMG can assist immediately:
Surviving with Near Term Planning
Assessing and taking timely action with respect to cash flow, credit, and operating expenses are critical steps that companies need to address in the near term. Our experts can help by applying practices like 13 week cash flow forecasts and operating cost takeout analysis, as well as scenario analysis.
Business Interruption
We can quickly provide a free assessment of an entity’s insurance policy to determine the likelihood of claim submission status. If a claim can be submitted, we can help in the process to ensure costs and lost profits are captured, and our fees are often paid by the insurer (depending on the policy).
Cybersecurity
We can assist you and your CISO assess the heightened risks of remote work such as unauthorized applications, ensure systems are maintained and monitored – including third party systems, and help mitigate the impact of phishing and other intrusion attempts that may increase during this situation.
Financial Reporting Requirements
For companies and tribes that have public (or quasi-public) financial reporting requirements, we have a team who can help with impairment analysis and accounting issues resulting from the circumstances (for example, accounting for rent concessions or employee-related costs). See the latest financial reporting developments here.
We are happy to talk to those that may simply be uncertain of next steps to determine together the best plan for each circumstance, just reach out. You can reach the Las Vegas office managing partner, Rick Arpin, at rarpin@kpmg.com or 702-498-7663.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.
About KPMG LLP
KPMG LLP is the independent U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s independent member firms have more than 219,000 professionals working in 147 countries. Learn more at www.kpmg.com/us.