Financial reporting implications of coronavirus


Accounting considerations related to coronavirus disease


FRC advice to companies and auditors on coronavirus risk disclosures
The FRC advises companies to consider which disclosures they may need to include in their year-end accounts, particularly for companies either operating in or having close trading associations with China or global supply chains dependent on Chinese-manufactured goods.

Updates issued by the FRC with regards to the COVID-19 Virus response

Useful resources especially if some of your clients have audits by someone else.


Features a comprehensive resources hub. 

IFAC small business continuity checklist

Six ways for SMPs to evolve and thrive in the Covid-19 environment

To emerge from the COID-19 crisis, small firms need to address six key areas – focus on staff, client communication, accessing external resources, diversifying service offering, risk management and investment in technology.

Summary of Covid-19 Financial Reporting Considerations

Key financial reporting challenges and implications due to Covid-19 separated by specific areas (e.g. going concern, fair value measurement and impairment, lease accounting and hedge accounting) and highlighting various relevant resources from external stakeholders.

IATA Industry Accounting Working Group

Should coronavirus be accounted for as an adjusting or non-adjusting event?
Blog post from the IAWG focusing on whether the coronavirus should be accounted for as an adjusting or non-adjusting event.