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CPAs Collaborate on Disaster Recovery Guide
4/17/2003
CPAs Collaborate on Disaster Recovery Guide
By: SmartPros Editorial Staff
NEW YORK, Apr. 17, 2003 — The American Institute of Certified Public Accountants (AICPA), and the National Endowment for Financial Education (NEFE) have jointly developed a new, broad-based guide to help people affected by natural and man-made disasters recover from financial loss.
Comprehensive Guide Offered to People Affected by Disasters to Help Them Recover from Financial Loss; CPAs to Offer Financial Planning to People Affected by Disaster
Disaster Recovery: A Guide to Financial Issues will be offered free of charge by local American Red Cross chapters across the country as a public service to aid people affected by disasters and their families. The guide is being offered as a public service of the AICPA, AICPA Foundation, American Red Cross, and NEFE.
"Prior to this guide being produced, there were no comprehensive, easy-to-understand resources that guide people affected by disasters through the three key stages of recovery -- the days immediately after a disaster, the months following that period, and the future," said Terry Sicilia, executive vice president, American Red Cross Disaster Services. "CPAs can play a central role in the process ... providing much needed financial planning advice so that families can recover as soon as possible."
The 32-page guide addresses several topics in three parts:
Part I defines the steps to take immediately following a disaster, such as restoring household stability, managing an injury or disability and financial decisions after death;
Part II identifies steps to take in the weeks and months after disaster has occurred to help people affected by disasters try to settle into a more normal routine by establishing a steady flow of income, handling expenses and debt, and working through potential lawsuits or other settlements;
Part III illustrates the steps to take in planning for the future and moving on with life in areas such as assessing financial needs, getting retrained for a job, and estate planning.
"For people who've suffered because of a disaster, the right kind of advice and guidance is even more critical," said Anat Kendal, AICPA Director of Financial Planning. "This guide outlines the steps people affected by disasters should take to recover, and more importantly, includes a checklist of proactive steps to plan for the event of a possible future disaster and minimize the risk of loss."
To request a copy of the guide, visit www.redcross.org/services/disaster/beprepared/financeprep.html or contact your local Red Cross chapter.
© 2003 SmartPros Ltd. All rights reserved.
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