Business in distress during COVID-19

Content summary

COVID-19 has caused a significant impact to businesses. Actions taken to reduce the spread of the virus have created fluctuations in demand for products and services, labour shortages and supply disruptions.

As part of a comprehensive risk management strategy, there are actions you can take to help you or your clients’ business through these challenges and build resilience for the future.

Guides for SMEs: Understanding your options

In an ever-changing economic environment, it's important to understand your options if your business is in distress. Learn how to spot the signs of insolvency in your SME and what your options are.

Business in distress
PDF · 168.5 KB

It’s important to understand your options should your company be experiencing financial difficulty.

A CPA Australia guide for SME's facing financial difficulty

Simplified liquidation
PDF · 119.4 KB

Your business may be insolvent if it can't pay its debts as and when they fall due.

Business exit strategy

Public Practice Conference 2020 recorded session.

Be the doctor, not the undertaker

Public Practice Conference 2020 recorded session.

Supporting clients through COVID-19

Insolvency fact sheets

The outbreak of COVID-19 is continuing to have an overwhelming impact on individuals, businesses and communities. We have created these fact sheets designed to work together to help you and your clients in financial distress.

The risk of corporate failure under the current and evolving COVID-19-related economic circumstances is unprecedented. Learn about the meaning of insolvency and how to identify the indicators.

If your clients are in financial distress, find out how you can help them navigate through this health and economic crisis with an overview of the options available.

An overview of Director’s Duties and Insolvent Trading provisions in the Corporations Act 2001 and the implications this may have for our members who are advising clients in financial distress, despite the relief offered through the Coronavirus Economic Support Package.

This factsheet highlights the various factors to take into account when considering whether a company is insolvent, so you can refer clients to an insolvency expert as soon as possible.

The Australian Restructuring Insolvency and Turnaround Association (ARITA), with the support of CPA Australia and Chartered Accountants Australia and New Zealand, has released a special guide for accountants in public practice. It outlines steps you can take to help your clients with companies in financial distress.

Webinar presentation files

View the webinar presentation file for the "Dealing with clients in financial distress" webinar.

View the webinar presentation file for the "Corporate and personal insolvency" webinar.