The rapid outbreak of the coronavirus presents an alarming health crisis that the world is grappling with. In addition to the human impact, there is also a significant commercial impact being felt locally. During these challenging times, KPMG professionals are focusing on the wellbeing of our people, clients and communities. We are working to ensure we continue to provide local businesses with the level of service they need and expect and navigate the programs being put in place across Canada. The team at KPMG can work with you to support you during these challenging times so please reach out to either:

In Manitoba: Brad Klassen, KPMG Tax Partner based in Winnipeg at 204-957-1770.
In Saskatchewan: Stuart Pollon, KPMG Regions West Enterprise Leader based in Regina at 306-791-1200.
In northern Alberta: Deb MacPherson, KPMG Regions West Tax Business Unit Leader based in Edmonton at 780-429-7300.
In southern Alberta: Ebony Verbonac, KPMG Tax Partner based in Lethbridge at 403-380-5700.

In a crisis or economic downturn, how can boards, senior management and risk managers act so that they can safeguard the business and discover opportunities? In this publication, KPMG has compiled a series of business continuity insights to help businesses across all sectors stay on course.

Featured topics include:

• Developing a robust cash management strategy
• Building an agile and resilient operating model
• Getting smart about tax
• Staying vigilant about employment matters
• Paying attention to contracts and other legal obligations

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This guide serves as a checklist for businesses that are planning response strategies around the COVID-19 pandemic. It outlines actions already taken by organizations to date (as of March 2020), such as: establishing a Pandemic Planning/Preparedness Team consisting of executive-level members; reviewing a work from home policy; and developing communication vehicles and frequencies for employees, clients, regional offices, supply chain/service providers and Board of Directors.

The guide also suggests activities that should be performed now, during, and after a health crisis, such as closely monitoring announcements as reported by government and health organizations; as well as activities that should be performed following the event, such as reinforcing health guidelines and debriefing/discuss any lessons learned.

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Our new reality requires strong, steady leadership, and clear, consistent communication with employees, suppliers, clients, and stakeholders. As in any emergency situation, it’s vital to stay connected, boost morale, and remind everyone that they have an important role to play in minimizing community spread of the novel coronavirus. The situation is very fluid, and changing daily, and the stress of uncertainty on your workforce is real. Leaders and teams must act quickly, but also be mentally and emotionally prepared to weather an extended storm.

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In an increasingly volatile business environment, organizations not only have to prepare for crises, but expect them. An organization’s crisis management framework (CMF) is the foundation which enables escalation, communication and co-ordination during a crisis. It also provides the structure through which to train and exercise stakeholders with crisis management responsibilities.

Learn more about the four phases of a crisis management program: identify, design, deliver and report. Effective business continuity management (BCM) can help ensure your firm is equipped with the ability to prevent, respond to and recover from various operational disruptions during a crisis.

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In addition to the health impact of COVID-19, there are considerable commercial impacts being felt globally particularly in the supply chain. This current challenge can be used as an opportunity to gain deeper understanding of your organization’s strategic operations and supply chain, and in turn, to develop more collaborative and resilient relationships with critical suppliers.

Businesses with extensive presence in or direct ties to affected areas must take immediate actions to assess organizational exposure, positioning them to appropriately support key stakeholders, employees and customers. Beyond immediate actions, organizations should value the opportunity COVID-19 provides to reflect on the ability to navigate a crises and going forward, consider actions to increase agility and become more resilient in the future.

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Certain innovative businesses may still apply for financial assistance during COVID-19.

Small and medium-sized Canadian employers pursuing technology‑driven innovation should consider whether they may be eligible for a temporary 12-week wage subsidy under a new Innovation Assistance Program (IAP) available through the Industrial Research Assistance Program (IRAP). This program is intended to support innovative firms that do not yet have revenue or are in the early stages of development and may not qualify for other government support.

Employers that are innovative businesses should act fast to determine whether they qualify for this subsidy and make an online application for this program. The application period for the IAP will be open until April 29, 2020, and the government states that payments to successful applicants will begin the week of May 11, 2020.

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In addition to the health impact of COVID-19, there are considerable commercial impacts being felt globally particularly in the supply chain. This current challenge can be used as an opportunity to gain deeper understanding of your organization’s strategic operations and supply chain, and in turn, to develop more collaborative and resilient relationships with critical suppliers. Businesses with extensive presence in or direct ties to affected areas must take immediate actions to assess organizational exposure, positioning them to appropriately support key stakeholders, employees and customers. Beyond immediate actions, organizations should value the opportunity COVID-19 provides to reflect on the ability to navigate a crises and going forward, consider actions to increase agility and become more resilient in the future.

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Wages and real property leases are arguably two of the largest cost items on any Canadian company balance sheet and any meaningful response plan should include a careful consideration of these two items.

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There is no question that the rapid spread of COVID-19 is having an impact on businesses around the world including on your employees, their travel and immigration as well as your contractual obligations. When responding to employees who may be self-quarantined or have a family member who is ill or quarantined, employers should familiarize themselves with the relevant company policies as well as the legal considerations under employment standards legislation, health and safety and human rights obligations and the duty to accommodate.

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COVID-19 is introducing uncertainty into contractual relations and disrupting the ability of a party to fulfill its obligations.

In some circumstances, a party may be able to assert a force majeure event in order to excuse its non-performance under a contract without incurring liability.

Determining whether force majeure is available (or in the case of the other party, being validly asserted by the non-performing party), requires a detailed legal analysis of the facts, contracting terms and law governing the contract. Additionally, it is prudent to review all contracts to ensure you are aware of the implications in the event COVID-19 (or other adverse or related scenario) triggers any other rights, obligations or potential defaults.

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