When the Covid-19 pandemic began, many finance and accounting organizations were still getting used to change as the new normal. Suddenly, uncertainty became a common sentiment for companies around the world.

With very little time to prepare, F&A teams had to figure out how to work from home and close virtually with a distributed workforce. Audit teams had to start performing their procedures remotely, and the roadblocks created by manual close processes and undocumented institutional knowledge became greater than ever before.

But we live in a digital age, and while the transition to a virtual professional world hasn’t been easy, it is possible to leverage what may seem like chaos into a strategic advantage. And the reality is that although change is uncomfortable, it can be more dangerous to live with outdated manual processes and the inherent risks of human behaviour, especially in our current environment. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook