Reporting issuers and COVID-19: Financial reporting and audit impacts

March 30, 2020

Developments surrounding coronavirus (COVID-19) continue to change daily. While every business and industry is affected, public companies are experiencing added levels of complexity to these challenges.

Economic uncertainty and volatile financial markets are global concerns. This is particularly felt by reporting issuers as their share prices are likely seeing substantial fluctuations in the stock markets.

We've examined some areas of financial reporting where COVID-19 uncertainty impacts public companies:

  • Accounting and audit implications
  • Impairment
  • Revenue recognition
  • Penalties related to termination of contracts
  • Leases
  • Debt restructurings
  • Reimbursements
  • Deferred taxes
  • Financial statement and public disclosure documents
  • Going concern
  • Reporting deadlines

Learn more about which areas of your company's financial reporting need your attention.

Download Guide

To learn more, contact:

Armand Capisciolto, National Accounting Standards Partner, FCPA, FCA