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AICPA Conference on Current SEC and PCAOB Developments 2020


SEC2008 - Keynote: The Economy and the Ripple Effects of COVID-19


Dec 8, 2020 10:00am ‐ Dec 8, 2020 10:50am

Description

In this session, Dr. Marci Rossell separates fact from fiction on the potential impact businesses can expect from coronavirus (COVID-19). Marci outlines the current state of the economy, explaining government relief packages, including the CARES Act, and the aid needed for natural disasters. Explaining the source as a healthcare problem, rather than an economic issue, she analyzes past events (think SARS and MERS epidemics) to predict the economic effects, such as postponed spending, job loss, and a decreased value of retirement savings.

She highlights that this outbreak is symptomatic of a larger trend: that businesses today face a variety of seismic surprises. Cyberterrorism, environmental disasters, swings in the regulatory regime, and, yes, epidemics like COVID-19 can all impact interest rates, yield curve, and profitability of financial institutions.

Learning Objectives:
  • Analyze the state of the economy
  • Recognize the impact of natural disasters like COVID-19 on financial markets and institutions
  • Identify how businesses can plan for unforeseen events today and in the future

Speaker(s):

Category: General Session (Online)

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