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