The Impact of COVID-19 on Financial Statements and Auditors’ Reports
Companies are facing many uncertainties connected with the COVID-19 outbreak. These are affecting their current situation and are also likely to affect their prospects for a considerable period of time. This guide sets out the factors that need to be considered and addressed when preparing the annual financial statements of a company in the current circumstances, and the potential implications for the audit report.
It is important to note that there are very few absolutes. Every business needs to consider its own specific circumstances. Some industries and / or some businesses are not as adversely affected as others by the current restrictions and likely knock-on effects to the wider economy, so an appropriate approach will vary on a case by case basis.
This guide covers the following:
- Financial reporting
- Accounting treatment
- Auditors’ reports
Download a copy of the guide below or contact a member of our specialist Audit team.
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