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On July 8, the federal government released a fiscal and economic snapshot from the House of Commons.
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On May 6, the BC government released its BC’s Restart Plan, a multi-phased approach to reopening the economy. Read our analysis on the road to recovery and our synopsis of BC’s Restart Plan.
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The Ministry of Finance has delayed the coming into force of the transparency register requirements under the Business Corporations Act until October 1, 2020. Subscribe to the Ministry’s website to stay up-to-date with future changes and bookmark CPABC’s webpage on Beneficial Ownership.
On May 15, the government released sector-specific guidance to help businesses and organizations develop their COVID-19 Safety Plans, following their announcement of the Restart Plan. Of note for most CPAs is the guidelines on operating in an office space.
The COVID-19 Safety Plan must follow the six steps below:
- Assess the risk at the workplace;
- Implement measures to reduce the risk;
- Develop policies;
- Develop communication plans and training;
- Monitor the workplace and update plans as needed; and
- Assess and address risks from resuming operations.
More details on Safety Plan and you can also review the BC Government's checklist to prepare the safe re-opening and operation of your business.
The Greater Vancouver Board of Trade offers a toolkit to help guide businesses in reopening, including preparing workspaces, and accommodating employee and client needs.
CPA Canada has released an article, “Best practices to adopt before reopening your workplace”, with some helpful advice on how to safely and responsibly resume physical workplace operations.
- Many are exploiting businesses in the digital space during this pandemic, make sure you are following the best practices to minimize cybersecurity risks:
- As there have been high incidences of COVID-19 related scams, you are encouraged to visit the Canadian Anti-fraud Centre to familiarize yourself with how to identify scams. Remember to report any suspicious activity.
- How to securely share files remotely with clients
- Cloudy with a chance of a data leaks: What business professionals need to know before using the cloud
- Six tips on using Zoom safely and securely
- Workplace privacy policies: What are they and why are they essential?
- Thwart cyber-criminals through better password policies
- Is your company prepared for a cyberattack?
- Leverage the tips from the following CPABC Newsroom and CPA Canada articles to effectively manage your business from home:
- Make use of your CPA member benefits to find savings on E-Courier, Clearly Payments, and Staples Canada.
- Access the BC Economic Development Association's live-updated COVID-19 resources and information document, which includes specific information for industries like agriculture, forestry, entrepreneurs, construction, tourism, technology, and etc.
- Find the latest updates and information for individuals and owners on the provincial government’s COVID-19 support and information page.
- Access the resources, and guidance necessary to navigate challenges from COVID-19 with Small Business BC’s BC Business COVID-19 Support Service. Small Business BC also has a resource centre that provides the latest updates on government resources, as well as tips on how to create a crisis plan, prepare for business continuity, etc.
- Visit the federal government’s COVID-19 Economic Response Plan and BC government’s action plan to stay up-to-date on announcements that can affect your business.
- Check the Canada Revenue Agency’s webpage for the latest COVID-19 related updates, including tax changes and filing deadlines.
- CPA Canada Resources:
- COVID-19: Resources related to reporting and audit: understand the potential financial reporting and audit implications of the COVID-19 pandemic
- COVID-19 Information Resources: tips on ensuring business continuity, working remotely, and avoiding fraud and identity theft.
- The Government of Canada’s Innovation Canada site is an online tool that helps business owners generate a tailored list of COVID-19 support and other programs and services.
- Use the BC Government's checklist to safely re-open and operate your business or organization and reduce COVID-19 transmission.
- Minimize the risk of exposure to COVID-19 as you prepare to re-open with WorkSafeBC's guide to COVID-19 and returning to safe operation and questions you should consider to prevent exposure to COVID-19 in the workplace.
- Understand when an employee can take unpaid, job-protected leave of absences related to COVID-19. The COVID-19 leave is retroactive to January 27, 2020. Once no longer needed, this leave will be removed from the Employment Standards Act.
- Learn about the changes to employment insurance with regards to COVID-19 by visiting the Employment and Social Development Canada webpage.
- Check the Service Canada website to verify office hours of in-person services. Consider using their online services which remain available.