Social Responsibility and SDG 8 during the First Wave of the COVID-19 Pandemic: The Role of Chartered Accountants in Portugal

The fragility of the Portuguese economy, the weight of sectors that were especially vulnerable to the crisis caused by the pandemic, and the small size of enterprises meant that their economic and financial structure was not capable of supporting the effects of the economic crisis, jeopardizing the...

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Bibliographic Details
Published in:Sustainability 2022-07, Vol.14 (14), p.8625
Main Authors: Borrego, Ana Clara, Carreira, Francisco Alegria, Pardal, Pedro, Abreu, Rute
Format: Article
Language:English
Subjects:
Bankruptcy
Chartered accountants
Coronaviruses
COVID-19
Economic crisis
Economic development
Economic growth
Economic policy
Economics
Employees
Fragility
GDP
Gross Domestic Product
Layoffs
Literature reviews
Pandemics
Professionals
Public utility districts
Self employment
Self evaluation
Small & medium sized enterprises-SME
Small business
Social responsibility
Society
Stakeholders
Sustainability
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Summary:The fragility of the Portuguese economy, the weight of sectors that were especially vulnerable to the crisis caused by the pandemic, and the small size of enterprises meant that their economic and financial structure was not capable of supporting the effects of the economic crisis, jeopardizing the achievement of the SDG 8. This research explores the perception of chartered accountants about their role in supporting small and medium-sized enterprises during the first wave of the COVID-19 pandemic in Portugal, based on a literature review and on a questionnaire. The results show that 70% of professionals consider that their clients evaluated their work positively during the first wave of the pandemic. However, most chartered accountants did not charge their clients for their extra-work and expenses and 30% even decreased their monthly fees. Portuguese chartered accountants, confronted with the economic–financial problem caused by the pandemic, focused on saving most of their clients from collapse and safeguarding many jobs. This research highlights the public utility and social responsibility of chartered accountants’ work, in the pandemic context in Portugal, as well as their central role for the efficient application of Government economic policies to maintain economic growth and decent work (SDG 8).
ISSN:2071-1050
2071-1050
DOI:10.3390/su14148625